On May 30, 2018, LaSalle Investment Management announced that it will acquire Aviva’s Real Estate Multi-Manager business and Encore+.
Under the terms of the transaction, LaSalle Investment Management, Inc. (“LaSalle”) will acquire Aviva Investors’ (“Aviva”). Real Estate Multi-Manager (“REMM”) fund and Aviva’s ownership of the management of the Encore+ fund. Ed Casal, the CEO of Real Estate at Aviva will join LaSalle. The transaction is expected to close by the end of 2018. Further terms of the transaction were not disclosed.
LaSalle, established in 1999, is an investment management firm based in Chicago that focuses on real estate investments. LaSalle has $60 billion in assets under management as of 2018 Q1.
Aviva, established in 1971, is an asset manager based in London that focuses on the real estate, fixed income, equity, multi-asset and alternative investment markets. Aviva’s REMM has $7 billion in assets under management. Encore is a fund co-managed by LaSalle and Aviva with a gross asset value of €1.7 billion. Aviva has $404 billion in assets under management.
To read the press release: please click here.