LaSalle Investment Management has relaunched its enlarged indirect real estate platform following the acquisition of Aviva Investors’ Real Estate Multi-Manager (REMM) unit earlier this year.

The renamed LaSalle Global Partner Solutions (GPS) melds REMM and LaSalle’s global indirect investment teams and LaSalle’s global strategic co-investment team.

LaSalle said GPS has close to $10bn (€8.76bn) in assets invested in in-house and third-party funds, joint ventures, co-investments and secondaries. Its team of 40 professionals is based in Chicago, New York, London and Singapore.

LaSalle confirmed that GPS will be led by Ed Casal, who joined from Aviva Investors when the merger was first announced. Casal, formerly CEO of global real estate at Aviva Investors and co-Founder of its global indirect real estate business, will be based in New York and has joined LaSalle’s global management committee.

He said the combined multi-manager business had “deep operator relationships” with investors around the world and can leverage LaSalle’s research and global reach “to build strong investment solutions that satisfy client objectives across the risk-return spectrum”.

Global CEO Jeff Jacobson said: “The launch of LaSalle GPS is an important strategic milestone for our business that will enhance our global solutions and investment capabilities.

“With the addition of Aviva’s multi-manager business, we intend to grow the business and further enhance our global indirects offering.”

GPS is part of an ongoing expansion of LaSalle by parent JLL. During a second-quarter earnings call, JLL described the acquisition of Aviva Investors REMM as a “significant addition to the breadth and strength of LaSalle’s global investment management platform”.

In December 2017, JLL presented plans to expand LaSalle, and last week it announced the acquisition of an 80% stake in US real estate debt fund manager Latitude Management Real Estate Investors.

In conjunction with the acquisition of Aviva Investors REMM, LaSalle also took over full management of Encore+, a pan-European core real estate fund that had been managed jointly with Aviva Investors.

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