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Alaska Fund Tests the Waters in Europe

JUNEAU, AK—Working with LaSalle Investment management, the sovereign fund will begin its first European real estate foray by investing up to $415 million in the UK.

By David Phillips | Updated on March 06, 2014

JUNEAU, AK—Alaska Permanent Fund Corp., Juneau, committed more than $415 million (£250M) to LaSalle Investment Management for investment in the United Kingdom.

“While the entry into Europe is clearly expected to provide diversification benefits, the increased capital dedicated to real estate (both domestically and globally) compels us to expand our footprint and opportunity set,” said Michael Burns, executive director and CEO of the Fund, in a LaSalle press release. “We are excited to team up with LaSalle in the UK and are encouraged at the pipeline of opportunities.”

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