LaSalle loses £500m Mars mandate to AEW

Kingdom Centre in Glenrothes Mars Pension Fund

Investment manager loses food giant’s £500m pension fund mandate to rival AEW after more than 25 years

The mandate, which had been held by LaSalle for more than 25 years, has been awarded instead to AEW, which has almost €30bn (£27bn) of real estate assets under management in Europe.

The Mars portfolio has assets across a range of sectors, including a large number of secondary shopping centres that LaSalle bought on its behalf in the wake of the financial crisis.

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