Japan’s ¥193 trillion ($1.33 trillion) Government Pension Investment Fund hired LaSalle Investment Management to run a core global real estate fund-of-funds strategy.
An announcement posted on the Tokyo-based pension fund’s website, didn’t provide details regarding GPIF’s allocation to LaSalle. A GPIF spokeswoman declined to comment.
The latest hiring comes amid signs the pace of GPIF’s alternatives allocations, following years of incremental gains, has begun to pick up over the past 12 months.
GPIF’s report in July on the first quarter of its new fiscal year showed infrastructure, real estate and private equity assets climbing to roughly ¥2.5 trillion, or 1.32% of the fund’s portfolio, still well below its board-approved 5% ceiling but almost double the 0.76% reported 12 months earlier.
Chicago-based LaSalle Investment Management had $82 billion in assets under management globally as of March 31.
Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.
Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.
Our Mission
To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.
Main Office
685 Third Avenue
Tenth Floor
New York, NY 10017-4036
Chicago Office
130 E. Randolph St.
Suite 3200
Chicago, IL 60601
Contact Us
Careers at Crain
About Pensions & Investments
About Author
