LaSalle acquires $7 billion Real Estate Multi-Manager business and management of €1.7 billion pan-European fund from Aviva Investors
Client(s) Jones Lang Lasalle Incorporated
Jones Day advised Jones Lang Lasalle Incorporated’s subsidiary LaSalle Investment Management on its agreement to acquire the entire Real Estate Multi-Manager (“REMM”) business of Aviva Investors and full ownership of the management of the Encore+ fund (“Encore+”). Aviva's REMM business has $7 billion (€6.05 billion) of assets under management. Encore+, an open-ended Continental European real estate fund, currently has a gross asset value of $1.967 billion (€1.7 billion). LaSalle will now be one of the top five largest global non-listed indirect real estate investment managers with combined assets under management of $10 billion (€8.64 billion) across all geographies and risk profiles.