Jeff Shuster Joins LaSalle as Managing Director for its U.S. Value-Add Fund Series
CHICAGO AND NEW YORK (August 05, 2020) — LaSalle Investment Management (“LaSalle”) today announced that its U.S. value-add fund series, LaSalle Income & Growth, has bolstered its investment team with the hiring of Jeff Shuster as Managing Director and Senior Acquisitions Officer. Jeff joins LaSalle from Starwood Capital Group, where he worked in a variety of roles of increasing responsibility since 2008.
In his new position at LaSalle, Jeff will help develop insightful and actionable investment themes and topics that will set the direction for the Fund’s investment activities and portfolio construction. He will directly source transactions and will also collaborate with LaSalle’s U.S. Transactions Group for any investments being pursued on behalf of Income & Growth. He will ultimately be responsible for helping the Fund team continue to deliver consistently strong investment performance while also mitigating risk. Jeff will be based in New York.
Jeff brings expertise investing across a range of property sectors and U.S. markets, having held roles within both acquisitions and asset management. Over the course of his 12 years at Starwood, Jeff completed transactions spanning the risk spectrum, including value-add and opportunistic equity as well as performing and non-performing real estate debt. Prior to Starwood, Jeff began his career with Bear Stearns in the Commercial Mortgages group where he underwrote over $2 billion of CMBS debt. He holds a BS in Economics with a concentration in Real Estate and Finance from the Wharton School at the University of Pennsylvania.
Joe Muñoz, Chief Investment Officer for LaSalle’s Income & Growth Funds, commented, “We are pleased to welcome Jeff to the Income & Growth team and look forward to his contribution and insight as we deploy capital on behalf of our limited partners. His wide range of transactional experience and deep network of industry contacts will help meaningfully expand the Fund’s investment capabilities.”
Jeff Shuster, Managing Director and Senior Acquisitions Officer for LaSalle’s Income & Growth Funds, added, “I am excited to join LaSalle’s Income & Growth team, to build on the Fund’s substantial multi-decade track record. I look forward to leveraging my experience to help advance the Fund’s growth and performance, as well as to taking advantage of opportunities that emerge from the market’s current dislocation.”
About LaSalle Income & Growth Funds
The LaSalle Income & Growth funds are the firm’s flagship closed-end U.S. value add fund series, with the first fund in the series launched in 1996. Aggregate fund series capital commitments total $3.4 billion, with approximately $12 billion in total transactional volume across all funds in the U.S. series. The fund seeks to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. Property level-investment strategies include lease-up, renovation/repositioning and selective ground-up development.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, we manage approximately $71 billion of assets in private equity, debt and public real estate investments as of Q4 2020. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.
NOTE: 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 educational 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.