The Legal & General Investment Management (LGIM) real assets division has promoted Louis Storrar to senior asset manager on its specialist Leisure Fund, which has grown from £190 million (€220 million) to £500 million over the past five years.
LGIM says it has “significant growth plans” for the fund, which was formed in 2002 and comprises 14 prime leisure assets across the UK.
Storrar will now manage the fund as well as act as specialist leisure adviser to the rest of the LGIM real asset platform. The platform has a further 12 specialist leisure assets and in total, the real assets division manages leisure assets of around £1 billion.
In his career, Storrar has spent eight years at Savills as an associate, during which he was seconded to The Crown Estate – the government corporation that manages lands and holdings in the United Kingdom belonging to the monarchy. In 2015, he was seconded to L&G to support the leisure fund.
Around 50% of the fund’s income produced for investors is inflationary linked. In 2015, the fund returned 11%.
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