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LaSalle secures £300M more for UK local authority property mandate
The additional capital brings the pension fund mandate’s UK assets under management to £1B, and LaSalle plans to keep emphasizing inflation-linked and long-income property while moving into residential assets.
LaSalle Investment Management has secured more than £300M in additional capital from an unnamed UK local authority pension fund, increasing assets under management across the client’s UK portfolios to £1B once the new funding is deployed, the firm said in a release. The added allocation follows what LaSalle described as a sustained period of outperformance from the client’s balanced property portfolio. Since the start of 2024, LaSalle said it has completed seven asset sales and three acquisitions for the mandate, with a focus on inflation-linked and long-income assets.
LaSalle said the fresh capital will continue to target income-generating investments while also expanding into residential assets. Property-level asset management for the mandate is delivered through JLL’s Asset Management Services platform, which has supported LaSalle’s direct UK custom accounts business since 2024.
LaSalle Managing Director for UK Custom Accounts Sophie Simmonds said the expanded mandate will continue investing in high-quality, income-generating assets, adding that the tailored format is increasingly appealing to institutional investors seeking resilient incomes and returns.