Fund GAV currently stands at €1.8bn
CHICAGO and LONDON and
SINGAPORE, Nov. 14, 2018 /PRNewswire/ -- LaSalle
Investment Management ("LaSalle"),
today confirms that it has assumed the sole responsibility for the
management of Encore+, the open-ended Continental European real
estate fund which has been jointly managed by Aviva Investors
("Aviva") and LaSalle for the last
twelve years.
As the existing asset manager of the Fund, and also having
shared joint responsibility for marketing, capital raising, client
relationships and strategic business planning with Aviva since
inception of the Fund, LaSalle is
well-equipped to take on sole management of Encore+. The
transaction is expected to further streamline the Fund's internal
processes and decision making. There are no changes to the terms
and offerings to investors.
David Ironside has assumed the
role of Fund Manager for Encore+ having been responsible for
LaSalle's management, strategy and
acquisitions contribution to the Fund for twelve years in his
capacity as Head of Acquisitions for Continental Europe and
LaSalle's CIO for Continental
Europe. Marianne Hemon-Laurens will
be the Deputy Fund Manager for the Fund; she has been working on
the Fund for ten years and seen the Fund triple in size over this
period.
Encore+'s investment strategy will remain the same and focus on
improving assets and creating growth by seeking opportunities to
actively manage assets to deliver superior income returns. Given
the strong demand fundamentals, we believe opportunities remain to
add value to assets located in markets with robust long-term trends
in demographics, technology and urbanisation. Over the last three
months, the Fund has continued to generate strong performance in
both absolute and relative terms, and the historic long term
returns have consistently been at the top end of its peer group;
this is a direct result of our commitment to and success in
generating attractive risk-adjusted returns over the long term.
Encore+ has been a leading Fund in the IPD PEPFI in terms of
performance and it was recently announced as the best performing
Fund in the Index for 2017 on both a one and five year basis.
David Ironside, Fund Manager
of Encore+, said: "I am delighted to confirm that LaSalle is now the Fund Manager of Encore+. We
are committed to maintaining the strategy and we remain well
positioned to execute the asset management required to generate the
returns in line with the Fund's objectives. Encore+ has continued
to be active in the market and to seek attractively priced assets
aligned to our strategy. Since the transaction was announced, the
Fund has continued to receive additional subscriptions from both
existing and new investors."
Simon Marrison, CEO of
Europe at LaSalle Investment
Management, said: "Encore+ is our flagship fund for
Europe and the market-leading
performance that we have seen from the Fund will be a great
platform for the future. I am delighted that LaSalle has become the sole Fund Manager as I
believe that we have the experience, the scale and the ability to
strengthen the Fund to help it reach its full potential."
About LaSalle Investment Management
LaSalle
Investment Management is one of the world's leading real estate
investment managers with approximately US$60
billion of private and public equity and private debt
investments under management (as of Q2 2018). LaSalle's diverse client base includes public
and private pension funds, insurance companies, governments,
corporations, endowments and private individuals from across the
globe. LaSalle sponsors a complete
range of investment vehicles including separate accounts, open- and
closed-end funds, public securities and entity-level investments.
LaSalle is a wholly-owned,
operationally independent subsidiary of Jones Lang LaSalle Inc.
(NYSE: JLL), one of the world's largest real estate companies. For
more information please visit www.lasalle.com.
This information discussed above is based on the market analysis
and expectations of LaSalle and
should not be relied upon by the reader as research or investment
advice regarding LaSalle funds or
any issuer or security in particular. The information presented
herein is for illustrative and informational purposes and is not a
recommendation, offer or solicitation to buy or sell any securities
or to adopt any investment strategy in any jurisdiction where
prohibited by law or where contrary to local law or regulation. Any
such offer to invest, if made, will only be made to certain
qualified investors by means of a private placement memorandum or
applicable offering document and in accordance with applicable laws
and regulations. Past performance is not indicative of future
results, nor should any statements herein be construed as a
prediction or guarantee of future results.
LaSalle
Contacts
|
|
Americas:
|
Matt Schuler |
Phone: +1 312 897 4192 | Email: matt.schuler@lasalle.com
|
Asia-Pacific:
|
Sinhuay Ho |
Phone: +65 64943520 | Email: sinhuay.ho@lasalle.com
|
Europe:
|
Lydia Kalia |
Phone: +44 207 852 4110 | Email: lydia.kalia@lasalle.com
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