UK/US - GE Life, part of US-based GE Financial, has decided to outsource the management of its 540 million pound (814 million euro) property portfolio to Credit Suisse Property Investment Management (CSPIM), the UK property arm of Credit Suisse Asset Management.

CSPIM will be the sole provider of property investment management services to GE Life, with a mandate to manage 540 million pounds of UK property assets. These assets include 45 properties.

By outsourcing the property management, GE Life believes it will be offering its policyholders a better service by employing a specialist. Gavin Hill, chief investment officer of GE Insurance Holdings commented: “Outsourcing the property portfolio brings this asset class in line with GE Life’s manager of managers approach to equity investment management.”

CSPIM manages 1.2 billion pounds (1.81 billion euros) of UK property assets.

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