Jones Lang LaSalle purchases stake from ex-employee

A former JLL employee has sold their stake in LaSalle Real Estate Debt Strategies II.

Jones Lang LaSalle has purchased a stake in LaSalle Real Estate Debt Strategies II from a former employee, according to UK regulatory notices.

The stake was acquired from Jean Baptiste Meyer, former director at LaSalle Investment Management. In charge of special situations and debt investments at JLL since March 2012, Meyer earlier this month became vice president at PIMCO. Prior to JLL, he was a vice president at real estate investment management company JER Partners, where he worked on pan-European private equity real estate investments.

The size of Meyer’s stake in the fund was not disclosed.

Meyer could not be reached for comment by press time. JLL declined to comment.

LaSalle Real Estate Debt Strategies II is a 2013-vintage vehicle that raised £600 million (€757 million, $945 million), according to PEI’S Research and Analytics division. US pension North Carolina State Treasury is among the limited partners in the fund.

The fund targets office, retail, industrial and residential constructions and is currently investing in companies in Western Europe via mezzanine and debt commitments. London-headquartered LaSalle launched eight funds this year, all of which have held their final close.

One of these is LaSalle Residential Finance I, a 2014-vintage fund, that raised £202 million (€255 million, $318 million).