The global real estate investment management firm, LaSalle Investment Management, has been awarded a £750m (€941m) mandate from the Greater Manchester Pension Fund (GMPF), which is the biggest local authority fund in the UK.
The mandate is to grow the current balanced portfolio of commercial property in Britain. It will commence with focus on assets worth up to £75m (€94m) each. This award is one of the largest in the real estate investment management field in the UK during recent years. LaSalle currently manages assets in excess of £1bn (€1.2bn) and this is their latest award.
The managing director of LaSalle UK, Alan Tripp, said the company is pleased to have received this award and anticipate a successful future partnership. They hope to build on their track record which has outperformed for around 20 years now.
The leader of Tameside Council and chairperson of GMPF, Councilor Quinn, has expressed delight at the appointment of LaSalle as their chief property investment managers.