Mr. Klinksiek will lead LaSalle’s European Research & Strategy team responsible for forecasts of property markets, capital markets and metro economies across the region. Additionally, Mr. Klinksiek will take on a leading role in helping set LaSalle’s global strategy outlook, relative value assessments and portfolio strategies. He will work closely with the firm’s global clients and portfolio managers in developing and implementing comprehensive, integrated global investment strategies. Mr Klinksiek will also lead the expansion and enhancement of LaSalle’s global analytical tools and support the firm’s capital raising and investor relations activities.

Mr. Klinksiek joins LaSalle after spending nearly 17 years in various research and strategy leadership roles at Heitman, with diverse experience across a wide range of markets and property sectors in Europe, North America and Asia. He most recently served as Director of Strategy & Research Operations, based in Hong Kong, focused on global portfolio strategy and developing Heitman’s framework for global portfolio construction. Prior to that, he built and managed a new on-the-ground investment strategy and research capability in Europe for a period of 10 years. Mr. Klinksiek began his career in Heitman’s North America business, focused on research analysis across a wide range of property types and risk categories.

Jeff Jacobson, LaSalle Global CEO, said: “We are delighted to welcome Brian to LaSalle, and look forward to his leadership for this new role. I am confident that his wide-ranging experience and impressive track record will enhance our Research & Strategy platform and offer our clients a unique and sound perspective on European and global investment opportunities.”

Jacques Gordon, Global Head of Research & Strategy for LaSalle, commented: “Today more than ever, investors seek insights that are both tactical and strategic. LaSalle’s approach is to examine long-term secular and structural themes that can affect specific locations and markets when considering buy/hold/sell decisions. Brian’s depth of experience will serve our clients well as we advance through an unprecedented global recession and fragmented recovery.

Brian Klinksiek, Head of European Research and Global Portfolio Strategies for LaSalle added: “I am honoured to be joining LaSalle at a time when both European and global real estate remains a critical allocation for investors. I look forward to building off the impressive foundation and track record LaSalle has established and leveraging my experience to enhance the firm’s investment ideas and capabilities.”

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Jeff Jacobson

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has entered into an agreement to acquire the Real Estate Multi-Manager (“REMM”) business of Aviva Investors (“Aviva”), and full ownership of the Encore+ fund.

Aviva’s REMM business has $7 billion of assets under management and 24 employees globally. LaSalle and Aviva have entered into a binding contract and the deal is expected to close by the end of year. Together with our existing capabilities, LaSalle will be one of the top five largest global non-listed indirect real estate investment managers with combined assets under management of $10bn across all geographies and risk profiles.

The division will be headed up by Ed Casal, who, as part of this acquisition, will be joining LaSalle from his current role as CEO of Real Estate at Aviva and Co-Founder of its Global Indirect Real Estate business. Ed, who will be based in New York, will also be joining LaSalle’s Global Management Committee.

LaSalle will also be acquiring Aviva’s rights and responsibilities as the Fund Manager of Encore+, the open-ended Continental European real estate fund which has been jointly owned and run by both parties for eleven years. LaSalle will become the sole manager of Encore+ and David Ironside will become the Fund Manager. The Fund, which currently has a gross asset value of €1.7 billion, was recently recognised as the best performing fund in the IPD PEPFI for 2017.  It has also been the top performing fund in the index on an aggregate five-year basis.

Jeff Jacobson, Global CEO of LaSalle Investment Management commented: “I am delighted to announce this joint acquisition of Aviva’s REMM business and its interest in the management of the Encore+ fund.  A strong multi-manager capacity has become increasingly important to LaSalle’s clients and our global footprint and expertise provide a solid foundation to strengthen the incoming global indirect capabilities. This will enhance our capabilities to offer comprehensive integrated investment solutions across the risk spectrum in third party fund investing, joint-ventures and co-investments.

We have always regarded Encore+ as our flagship diversified open-end fund in Continental Europe and I am delighted that we will become the sole manager for the Fund. LaSalle has been a co-sponsor of the fund since its inception and I consider it a natural evolution to bring all operations under one roof in the next stage of its growth.”

Euan Munro, Chief Executive Officer of Aviva Investors, said: “This deal makes sense for both parties, as well as clients in the REMM business and Encore+. We will now focus our efforts on being a direct operator in our chosen markets in Real Assets, which is a strategic priority for our business.”

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