LaSalle Announces Leadership Succession for its U.S. Value-Add Fund Series
CHICAGO (February 08, 2018) — LaSalle Investment Management (“LaSalle”) today announced that Joe Munoz has been appointed Chief Investment Officer of the firm’s flagship U.S. value-add fund series, LaSalle Income & Growth Funds. For future funds in the series, Joe will have the President & Chief Investment Officer role, where he will have primary responsibility for all aspects of strategy and day-to-day operations of the Funds.
Jim Hutchinson, the founder of the fund series will remain President of LaSalle Income & Growth Funds I-VII, and has taken on the role of Chairman of the series. Jim will remain with LaSalle through 2020 to ensure a seamless transition as the series progresses.
Since joining LaSalle’s Income & Growth Funds team in 2007, Munoz has served as an Investment Officer of Funds V-VII, guiding the investment strategy and execution of acquisitions, joint ventures and financings. Prior to joining the Income & Growth Funds team, he was a member of LaSalle’s Acquisitions Group. Since joining LaSalle in 2004, he has completed more than $5 billion in transactions across all major property types spanning a wide range of the risk spectrum.
Jason Kern, LaSalle Americas CEO, said: “We are pleased to promote such a capable leader and skilled investment professional in Joe, and our entire organization shares a profound gratitude for all that Jim has done for LaSalle over the course of his more than 30 years with the firm. Jim and Joe have been a complementary pairing over the past 10 years throughout the evolution and success of this series, and we are confident that this transition of leadership responsibilities will position LaSalle’s Income & Growth Funds for continued prosperity.”
Jim Hutchinson, Chairman of LaSalle Income & Growth Funds, commented: “Given the growth and success we have achieved since the inception of the Income & Growth series more than 20 years ago, it is very important that the Series is well-positioned for long-term stability and continued success. Joe has been a great contributor to the positive momentum and performance since he joined the Fund team 10 years ago, and I am confident he is well-equipped to help drive growth and performance going forward.
Joe Munoz, Chief Investment Officer of LaSalle Income & Growth Funds, added: “It is an honor to be asked to lead the future of the Income & Growth Fund series, and I am thankful for Jim’s mentorship and the trust he has placed in me to continue to grow the business that he founded over 20 years ago. I look forward to continuing to work closely with Jim through the transition period. We have an outstanding team, platform and track record in place that provide me with great confidence in our ability to deliver strong investment performance for our investors in the years ahead.”
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. 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 Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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