CHICAGO—LaSalle Investment Management said Thursday that Joe Munoz had been appointed CIO of LaSalle Income & Growth Funds, its flagship US value-add fund series. Munoz has been an investment officer on Funds V through VII in the series; for future funds, he'll serve as president & CIO, with primary responsibility for all aspects of strategy and day-to-day operations.
Jim Hutchinson, who founded the fund series, will remain president of Funds I through VII, and has taken on the role of chairman of the series. Hutchinson will remain with LaSalle through 2020 to ensure a seamless transition as the series progresses, the company said Thursday.
Munoz has been part of the Income & Growth Funds team since 2007. Prior to joining the fund series, he was a member of LaSalle's acquisitions group. Since joining LaSalle in 2004, he has completed more than $5 billion in transactions across all major property types spanning a wide range of the risk spectrum.
“Given the growth and success we have achieved since the inception of the Income & Growth series more than 20 years ago, it is very important that the series is well-positioned for long-term stability and continued success,” Hutchinson says. “Joe has been a great contributor to the positive momentum and performance since he joined the Fund team 10 years ago, and I am confident he is well-equipped to help drive growth and performance going forward.”
The Income & Growth Funds seek to acquire under-managed, under-capitalized or mispriced assets to be repositioned as core assets. Since launching in 1996, the funds have made a total of $2.8 billion in capital commitments, with more than $5.8 billion invested in over 98 property investments across all the funds in the series.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.