LaSalle Investment Management has secured more than £300M in additional capital from an unnamed local authority pension fund client, taking assets under management across the client's UK portfolios to £1B once the new capital is fully deployed.

The additional allocation follows a “sustained period of outperformance” from the balanced property portfolio managed by LaSalle, the company said.

Since the start of 2024, LaSalle has completed seven asset sales and three acquisitions for the pension fund, with investment focused on inflation-linked and long-income assets. LaSalle said the new capital will continue to target those types of 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, UK Custom Accounts Sophie Simmonds said the additional capital would be used to continue investing in income-generating assets.

“With this expanded mandate, we will continue investing in high-quality, income-generating assets to deliver continued outperformance,” she said in a news release.

Simmonds said the strategy was particularly relevant as institutional investors increasingly seek tailored real estate investment solutions.

“We believe this format is particularly attractive in today’s market, where investors are seeking customised solutions that offer resilient incomes and compelling returns,” she said.