In a bid to gain wider appeal among German, Austrian and Swiss investors, LaSalle Investment Management ('LaSalle') has announced plans for its German office LaSalle GmbH to launch a Kapitalanlagegesellschaft für Immobilien-Spezialfonds (KAG), a regulated investment company under German law.
To achieve this, LaSalle Vermögensverwaltungs GmbH, a subsidiary company owned 100% by LaSalle GmbH, has been launched by LaSalle's registered office in Munich, and a licensing application has been filed with the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) (German Federal Financial Supervisory Authority).
As soon as this license has been approved, "LaSalle Vermögensverwaltungs GmbH" will operate as 'LaSalle Investment Management Kapitalanlagegesellschaft mbH' ('LaSalle KAG').
Claus Thomas, Regional Director of LaSalle GmbH and designated member of the Supervisory Board of LaSalle KAG comments: "Our intention to establish a KAG in Germany and to launch a specialist investment fund places long-term emphasis on our belief in the strategic potential of the German market both in terms of its real estate and investors.
"It will also allow us to provide the German institutional investor market, which is an increasingly important source of capital in Europe, with tailor-made access to international investments by combining LaSalle's global real estate presence with local reach."
Source: Citigate Dewe Rogerson