TOKYO (March 8, 2023) — LaSalle Investment Management (“LaSalle”) announces today two significant appointments. Kunihiko (Nick) Okumura will succeed Keith Fujii as Chief Executive Officer of LaSalle Japan and will concurrently be appointed as Representative Director of LaSalle Japan. Meanwhile, Itaru Nogami will succeed Ryota Morioka as Fund Manager of LaSalle Japan Property Fund (LJPF), an open-ended core fund with total assets under management of more than JPY200 billion GAV (US$1.54 billion). Both appointments will be effective March 31.
Consequently, Fujii will continue to serve LaSalle as Head of Asia Pacific while Morioka will depart the firm to pursue other interests. Yasuo Nakashima has also stepped down as Representative Director of LaSalle Japan and will depart the firm on April 1.
Keith Fujii, Head of Asia Pacific for LaSalle, said, “These leadership transitions follow a succession planning process spanning several years, during which we worked to develop a robust talent pipeline. Okumura san’s and Nogami san’s appointments reflect the depth of LaSalle’s bench strength and the firm’s long-term orientation.”
Okumura joined LaSalle Japan in 2011 and served as Head of Acquisitions and Asset Management. He was additionally appointed Co-Chief Investment Officer (Co-CIO) for LaSalle Asia Pacific in 2021. With over 25 years of Japanese real estate experience, Okumura has completed over US$15 billion of debt and equity transactions across multiple asset classes. In his new role as CEO of LaSalle Japan, Okumura will continue to serve as Co-CIO for the Asia Pacific region.
Nogami joined LaSalle as Deputy Fund Manager for LJPF in 2020 and has been involved in all strategic and operational dimensions of the fund, including equity raising, debt financing, investor and lender communications, acquisition, operational management, as well as investor reporting and fund administration. Itaru has over 20 years of experience in Japanese direct real estate investments.
Fujii continued, “Over the 12 years he’s been with LaSalle, Okumura san has been instrumental to the development and execution of our business strategy both in Japan and Asia Pacific. With his blend of acumen, discipline and integrity, Okumura san is well-positioned to lead our Japan business and drive the next phase of its growth. Meanwhile, Nogami san has been a key member of LJPF since he joined LaSalle Japan and, with the guidance of Morioka san, is now primed to extend the excellent track record of the fund. I am grateful to Morioka san for his significant contributions to our business and I am confident we will continue to benefit from the leadership of Okumura san at LaSalle Japan and Nogami san for LJPF.”
Kunihiko (Nick) Okumura, CEO-elect for LaSalle Japan, said, “I am honored to be given the opportunity to lead LaSalle Japan and to build on our excellent foundation which Fujii san had strengthened with his leadership in the past few years. I’m looking forward to continuing to work with my talented colleagues, to achieve strong performance for our investors and also to make LaSalle a great place to work.”
Itaru Nogami, Fund Manager-elect for LJPF, said, “I am delighted to have the opportunity to continue to serve our investors as Fund Manager. I’m looking forward to working with my team to maximize investment returns by expanding our diversified portfolio of high-quality, stable core assets in line with our existing strategy.”
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LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $79 billion of assets in private and public real estate property and debt investments as of Q4 2022. 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. For more information please visit www.lasalle.com and LinkedIn.
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