Press releases

L&G boosts leisure team with new hire

Louis Storrar

Louis StorrarLegal & General Investment Management Real Assets (“L&G”) announces that it has appointed Louis Storrar (photo, right) as Senior Asset Manager for its specialist Leisure Fund (the “Fund”), as part of the Fund’s significant growth plans.

Reporting directly to Fund Manager, Andrew Ferguson, Storrar is responsible for the asset management of the Fund, engineering existing space, by working with the Fund’s existing occupiers to create added value. He also acts as a specialist leisure adviser to the rest of the L&G platform which has a further 12 specialist leisure assets, taking the total of leisure assets under management to approximately £1bn.

Storrar has a wealth of experience in the leisure sector and in property management. He previously worked at Savills in its head office in London. During his time at Savills he was seconded to The Crown Estate to head up the property management for its Regional Portfolio, and most recently took on a secondment at L&G to support the Leisure Fund and its expanding portfolio.

Formed in 2002, the Leisure Fund Limited Partnership is approaching £500m of assets under management, comprising 14 prime leisure assets occupying dominant positions across the UK and a major development scheme in the centre of Bournemouth.  The fund offers an attractive income profile, with a weighted average unexpired lease term of close to 14 years that is backed by strong covenants and with almost 50% of the income benefiting from being inflationary linked or incorporating fixed uplifts.  In 2015 the Fund delivered a strong total return of 11% to its institutional investors, which compared favourably to the MSCI All Leisure Benchmark.

Andrew Ferguson, Fund Manager of the Leisure Fund, said:  “Louis will be a huge asset to the Leisure Fund and I am thrilled to have him on board. Over the past five years the Fund has grown rapidly from £190m to almost £500m, and with aspirations to be the number one leisure fund continuing to deliver excellent performance, this new appointment will help support these plans and ensure that we continue to go from strength to strength.”



For more information please contact:

Faye Walters, PR Manager, LGIM Real Assets
Tel: 020 3124 2823


Notes to editors:

LGIM Real Assets:

LGIM Real Assets is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £842bn in assets on behalf of over 3,200 clients (as at 30 December 2015), providing products and solutions spanning all asset classes.  LGIM Real Assets, headed up by Bill Hughes, has AUM of £21.1bn (as at 30 June 2016) and is responsible for the division’s direct investment capabilities in property and infrastructure. LGIM Real Assets is made up of three specialist divisions, Legal & General Property (LGP), its property fund management arm, LGIM Infrastructure, its specialist infrastructure lending and investment division, and Commercial Lending Limited (CLL), its commercial lending arm.

LGP is the fourth largest institutional property fund manager in the UK, managing or co-managing 17 separate funds or vehicles including three segregated mandates with an aggregate asset value of £17.7bn (30 June 2016).  These funds include:

  • Balanced Funds
    • Life Fund; Linked Pensions; Linked Life; Managed Fund; Legal & General UK Property Fund; UK Property Income Fund I; UK Property Income Fund II; LPI Income Property Fund and the Hybrid Property Fund
  • Specialist Pooled Funds  
    • The Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund
  • Single Asset Vehicles
    • Bracknell Regeneration Partnership; Central Saint Giles Partnership.

LGIM Infrastructure has concluded 18 debt investments to date across all key infrastructure sectors and has a total AUM of around £1.6bn. 

CLL has now invested a total of over £1.8bn across 19 deals. Transactions include eight loans to the social housing sector, two loans to the student accommodation sector, two hotel debt deals and two loans to the care home market.