LaSalle global CEO returns to Chicago

LaSalle Investment Management global chief executive officer Jeff Jacobson has called time on his tenure leading the firm from its Singapore office returning to its global headquarters in Chicago.

Jeff Jacobson, the global chief executive officer of LaSalle Investment Management, has relocated from the firm’s Asia headquarters in Singapore to its global headquarters in Chicago.

The move comes 18 months after Jacobson moved from the firm’s London office where he spent nine years. According to a LaSalle spokesperson, the move was motivated by family reasons. She said: “This doesn't mean anything for us in terms of business shifts or priorities.”

Jacobson moved to Singapore at the beginning of 2010 after the firm determined the region to be an increasingly important part of its global business, which the firm still believes. At the time, LaSalle had the bulk of its dry powder in the region with the majority of its LaSalle Asia Opportunity Fund III, a $3 billion real estate opportunity fund raised in 2007, still to invest.

Following a large investment hiatus in the region following the fund’s final closing, the firm deployed significant amounts of equity from 2010 onwards. It has also harvested a number of assets and is in the process of selling a $1.8 billion logistics portfolio for which it is reportedly in exclusive talks to sell to Global Logistics Properties. According to one PERE source, Jacobson is playing a part in this sale. The sale is on behalf of LaSalle’s LaSalle Japan Logistics fund II, which closed in 2007 on $1.5 billion.

Jacobson was made global chief executive officer of the firm at the end of December 2006 following the retirement of previous incumbent Lynn Thurber who went on to become the firm’s chairman.
LaSalle currently manages $45.3 billion of assets according to its website.