LaSalle Investment Management (LaSalle) has launched LaSalle Global Partner Solutions (LaSalle GPS), a new fully integrated division dedicated to building robust, indirect investment portfolios by partnering with expert real estate operators across the world.
The launch follows the closing of La Salle’s acquisition of the Real Estate Multi-Manager business of Aviva Investors.
The new platform will offer a range of opportunities across private, public, debt and equity segments through investment in third-party and in-house funds, joint ventures, co-investments and secondaries.
LaSalle GPS will be led by CEO, Ed Casal, who joined LaSalle from Aviva Investors where he was CEO of Global Real Estate and Co-Founder of its Global Indirect Real Estate business. Casal will be based in New York and has joined LaSalle’s Global Management Committee.
LaSalle GPS brings together under one umbrella the Aviva multi-manager indirect business, LaSalle’s existing European-based global indirect investment team, and its global strategic co-investment team based in Chicago. The combined business will have assets under management of nearly USD10 billion across all geographies and risk profiles and a team of 40 investment professionals located in Chicago, New York, London and Singapore.
Jeff Jacobson, Global CEO at LaSalle Investment Management, says: “The launch of LaSalle GPS is an important strategic milestone for our business that will enhance our global solutions and investment capabilities to serve our clients’ needs and objectives. LaSalle GPS will benefit from LaSalle’s existing platform of professionals who are able to provide extensive market information and insight, strong local relationships and deal flow. By enhancing LaSalle’s existing capabilities with the addition of Aviva’s multi-manager business, we intend to grow the business and further enhance our global indirects offering.”
Casal says: “I am delighted to be leading the LaSalle GPS team and am excited about the offering the platform can provide for LaSalle’s clients. The combined team is highly-experienced, has deep operator relationships, and will leverage LaSalle’s industry-leading real estate research and global client service capability to build strong investment solutions that satisfy client objectives across the risk/return spectrum.”
From day one, LaSalle GPS will possess an industry-leading multi-manager team with a truly global platform and an on-the-ground presence, and a global network of operating partners. Its breadth and depth of resources will provide LaSalle’s clients with strengthened partnering capabilities and investment opportunities. The LaSalle GPS platform will look to provide investors with durable long-term income and attractive total returns through global relative-value investing pursuing a diversified approach, while simultaneously maintaining a high-conviction investment style.
LaSalle’s scale, global resources and operational expertise will provide the necessary support to grow the platform further while continuing to provide a high-quality of service to all clients.
