LaSalle hires Loveless to build up European value-add business

LaSalle Investment Management (LaSalle) has appointed Blake Loveless as head of value-add Investments, based in London.

Loveless will help manage and grow LaSalle’s newly restructured business unit targeting higher-return real estate equity investments in Europe. He will report to Michael Zerda, who is rejoining LaSalle from Blackstone later this year to oversee both debt and value-add strategies when Amy Klein Aznar transitions to the role of executive chair.

Blake Loveless brings nearly 20 years’ experience to the role, having founded Jackyl Ltd, a pan-European real estate investment manager and operating partner which deployed over €500 mln of equity in partnership with institutional and ultra-high-net worth investors. Prior to this, he spent thirteen years at pan-European private equity fund manager Meyer Bergman, now ‘Mark’, as head of acquisitions and a member of the investment committee, helping to grow the business to over €4 bn of assets under management.
Blake will help spearhead LaSalle’s re-entry into value-add equity and special situations investment strategies, following the first and highly successful special situations fund. LaSalle is targeting upwards of €1 bn of equity for a follow-on fund and anticipates a first close during the first half of 2022. The strategy will invest throughout Europe and across the capital structure, working with operating partners and sponsors. The team is currently investing over €1.2 bn of dry powder in value-add opportunities on behalf of institutional clients.
Philip La Pierre, CEO, Europe at LaSalle, said: 'Growing our value-add investment capabilities and being recognized by our clients as best-in-class in value-add investing in Europe is a strategic priority for LaSalle. We are excited for Blake to lead our value-add activities, and his expertise, together with our existing, high-caliber team and established investment track record, positions us for meaningful growth and success.'


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