LaSalle Investment Management advises Italian pension fund on first overseas real estate investments
LaSalle Investment Management has successfully completed its first investments from an EUR85 million mandate awarded by Inarcassa, the Italian pension fund for self-employed architects and engineers.
This is the first time Inarcassa has invested in real estate outside its own domestic market.
LaSalle has already completed investments for Inarcassa in unlisted real estate funds focussing on core and core-plus strategies in Europe, the US and Asia. A total of 85% of the mandate has already been allocated by LaSalle, and it is expected to be fully committed by the end of the year. The mandate is the latest example of LaSalle using its expertise to advise pension funds making cross-border investments in core and core-plus strategies as they seek stronger returns in a low-yield environment.
Jennifer Gaines, Head of Indirect Investments at LaSalle, says: “We are delighted to be working with Inarcassa to build their real estate portfolio outside Italy. Our global footprint, coupled with our recognized expertise in core and core-plus strategies, as well as our strong research offering, means LaSalle is uniquely placed to help investors seeking to invest in such strategies around the world.
“Our expertise is particularly relevant for Italian institutional investors looking to diversify their Italian portfolios."
Paola Muratorio, President of Inarcassa, says: “We are aiming to make new forms of real estate investments outside our domestic borders, so we had to ensure we had an advisor with high standing, such as LaSalle Investment Management, which was chosen through a beauty contest which included the other main international players.
“The professional expertise of our manager will enable us to achieve our expected returns from this important investment, reinforcing the financial assets of Inarcassa and opening new investment perspectives, to guarantee the future social security of our members.”