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State Street Appointed to Provide Fund Administration Services for LaSalle Investment Managementa?s Property Fund

^{Published on 2010-10-26 10:25:24 - Market Wire}
 

BOSTON--([ BUSINESS WIRE ])--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today that it has been selected by LaSalle Investment Management, to provide fund administration services for approximately $2 billion in assets on behalf of the LaSalle Property Fund, L.P.

"The specialized knowledge and capabilities offered by State Street were paramount in our decision to appoint them as our third-party service provider"

State Street will provide administration and transfer agency services for LaSalle Property Fund L.P., managed by LaSalle Investment Management.

aThe specialized knowledge and capabilities offered by State Street were paramount in our decision to appoint them as our third-party service provider,a said Allan Marques, chief financial officer of LaSalle Property Fund L.P. aState Street brings significant experience in servicing private equity funds which makes us very confident in its ability to accommodate the needs of our fund.a

aWe are pleased to partner with LaSalle Investment Management to meet the needs of its expanding real estate portfolio,a said George Sullivan, executive vice president for State Streeta™s Alternative Investment Solutions group. aThe diversity of our fund administration business allows us to service the needs of funds that are increasingly using private equity structures in their portfolios. Todaya™s fund managers place tremendous value on transparency, cost efficiency and scalability when evaluating independent fund administrators, and we look forward to establishing this new relationship.a

With more than $625 billion in alternative assets under administration as of September 30, 2010, State Streeta™s Alternative Investment Solutions group provides a complete suite of fund accounting, fund administration, corporate administration, risk and credit services to institutional investors, hedge fund managers, private equity fund managers and real estate fund managers. The team includes more than 3,000 employees worldwide.

With nearly 700 people in 16 countries worldwide, LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a leading global real estate investment manager, with approximately $40 billion of assets under management of private and public property equity investments. LaSalle is active across a range of real estate capital and operating markets including private and public, debt and equity and our clients include public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit [ www.lasalle.com ].

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment management, investment research and trading and investment servicing. With $20.2 trillion in assets under custody and administration and $1.9 trillion in assets under management at September 30, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Streeta™s web site at [ www.statestreet.com ].