LaSalle Investment Management today announced that it has been awarded a €500m global mandate from Germany's largest pension fund.
The €55 billion Bavarian umbrella pension scheme for self-employed professionals - including doctors, lawyers and architects - has committed €500 million to LaSalle to seek best-in-class real estate investment opportunities across all property types, various risk profiles, capital structures, and geographies. It is expected that the first investment will be made this year.
Norman Fackelmann, Head of Property Investment Management, BVK said: “The LaSalle mandate will complement our existing core portfolio, and help to diversify it further. We’re delighted to be working with such a well-respected firm”
Claus Thomas, International Director, LaSalle Investment Management said: “We are thrilled to have been entrusted with the assignment to help BVK build upon its already stellar real estate portfolio. We are currently seeing attractive opportunities in Asia, notably Japan; as well as Canada, Australia and the U.S.”
Source: LaSalle Investment Management