LaSalle Investment Management has won a £750m mandate from the Greater Manchester Pension Fund.
The mandate involves growing an existing balanced portfolio of commercial property in the UK and will initially target assets of up to £75m each.
It is one of the biggest mandates to be awarded in UK real estate investment management in recent years, the firms said.
LaSalle UK managing director Alan Tripp said the firm looks forward to building on its “track record” in the UK with its existing relative-return mandates.
GMPF chair Councillor Quinn added: “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.”
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