Germany's BaFin approves LaSalle KAG (DE)

LaSalle Investment Management has announced that the German Federal Financial Supervisory Authority ('BaFin') has approved the formation of a capital investment company for specialist investment funds, as requested by LaSalle GmbH, Munich.

Following the granting of the licence, the already existing LaSalle Vermögensverwaltungs GmbH will henceforth operate as LaSalle Investment Management Kapitalanlagegesellschaft mbH ('LaSalle KAG').

The company is 100% owned by LaSalle GmbH and based in Munich, Germany.

LaSalle KAG will look to launch specialist investment funds in accordance with the German Investment Act. The main target group will be institutional investors in Germany, as well as in Austria and Switzerland, who will now have the opportunity to benefit from the global service infrastructure of LaSalle via German funds. In addition, the company will be able to offer specialist investment services, for example for foreign investors.

Claus Thomas, Managing Director of LaSalle GmbH and one of the three members of the Supervisory Board of LaSalle KAG, comments: "LaSalle KAG represents a sustained commitment to the German market with regard to both real estate and investors. Moreover, in addition to offering access to funds this KAG enables us to also provide an outsourcing vehicle for individual funds – a business branch in which LaSalle has been a leader for many years in other countries like the UK or the US."

Source: Citigate Dewe Rogerson

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