LaSalle wins Greater Manchester Pension Fund mandate
LaSalle Investment Management has been appointed property investment manager for a £750m pot by the local authority fund.
LaSalle will grow the Greater Manchester Pension Fund's existing portfolio of commercial property in the UK, and will initially target assets of up to £75m each.
The contract, which LaSalle said is one of the biggest to be awarded in the UK in real estate investment management in recent years, is the latest win for LaSalle's UK business. LaSalle UK manages more than £10bn of assets.
Cllr Kieran Quinn, leader of Tameside Council and chairmain of GMPF, said: "We are very pleased to appoint LaSalle as the main property investment managers for GMPF following a comprehensive selection exercise, and have confidence in their ability to achieve the required investment returns for the fund over the long term.
"This is a significant mandate which can rise up to £1bn and we hope that LaSalle can make a significant long term contribution for the fund's returns."