The contents of this website, including any document or narrative (the "Information") are maintained by LaSalle AIFM Europe S.à r.l. ("LaSalle"), being authorised by the Commission de Surveillance du Secteur Financier in Luxembourg as an alternative investment fund manager ("AIFM") for the purposes of the European Union Alternative Investment Fund Managers Directive (Directive 2011/61/EU) ("AIFMD"), in its capacity as AIFM of Encore+ (the "Fund"). The Information is only to assist institutional or accredited investors (or any equivalent class of investor under applicable law, "Professional Investors").
This Information does not constitute an offer to sell, or the solicitation of an offer to acquire any interests in the Fund, or for the advisory services of LaSalle or its affiliates (though, if this information is deemed by any law to constitute such an offer, then it is not being made available in any jurisdiction where it would be unlawful to make such an offer). Any such offer, if made, will only be by means of the confidential private placement memorandum (the "Placement Memorandum") relating to the Fund (and, in the event of any inconsistency between the Information and the Placement Memorandum, the Placement Memorandum will prevail). The Placement Memorandum will include information regarding investment risk and investors should have the financial ability and willingness to accept these risks.
The Information is not intended for use in any jurisdiction where prohibited by law and must not be used in any way that would be contrary to any local law or regulation. The Information is not to be construed as investment, legal or tax advice and does not consider the particular circumstances of any individual recipient. The Information is subject to correction and amendment without notice. LaSalle does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this Information.
In considering performance information of the Fund, investors should bear in mind that past performance is not indicative of future results and there can be no assurance that the Fund will achieve comparable results or that targeted returns or asset allocations will be met. The ultimate returns realised by any future investment will depend on numerous factors that are subject to uncertainty. Accordingly, there can be no assurance that any projected returns will actually be realised, and there is the possibility of loss of investment as well as potential for gain.
Any opinions, forecast, projections or other statements, other than statements of historical facts, that are made in the Information are forward-looking statements. Although LaSalle believes that the expectations reflected in such forward-looking statements are reasonable, they do involve a number of assumptions, risks and uncertainties. Accordingly, neither LaSalle nor any of its affiliates makes any express or implied representation or warranty, and no responsibility is accepted with respect to the adequacy, accuracy, completeness or reasonableness of the facts, opinions, estimates, forecasts, or other information set out in the Information or any further information, written or oral notice, or other document at any time supplied in connection with the Information, and nothing contained herein shall be relied upon as a promise or representation regarding any future events or performance of the Fund. All information obtained from third party sources is believed to be reliable and current, but accuracy cannot be guaranteed and LaSalle does not undertake to update any information contained in the Information.
Investments in private real estate funds are speculative and involve special risk and there can be no assurance that the Fund's investment objectives will be realised or that suitable investments may be identified. An investor could lose all or a substantial portion of his or her investment. Private funds are generally not subject to the same regulatory oversight as registered funds. Investments may involve complex tax structures resulting in delays in distributing important tax information, may not be required to provide periodic pricing or valuation information, lack diversification, limited transparency, and may employ leverage and other speculative investment practices. A comprehensive list of potential risk factors is outlined in the Placement Memorandum.
Important Notice to Potential Investors Located in the European Economic Area ("EEA")
The Fund is an alternative investment fund for the purpose of AIFMD. LaSalle AIFM Europe S.à r.l., being authorised by the Commission de Surveillance du Secteur Financier in Luxembourg as an AIFM for the purposes of AIFMD, is the AIFM of the Fund and holds the necessary passports to market the Fund to investors in the EEA. This Information is only for distribution to Professional Investors who are considered to be professional clients within the meaning of Annex II to the EU Markets in Financial Instruments Directive (No. 2014/65/EU) (as amended, "MiFID II").
The Information has not been approved by any supervisory authority and may not be used for and does not constitute an offer, or a solicitation of any offer, to sell, subscribe, purchase or make any commitments for any interests in the Fund. For the avoidance of doubt, this Information may not be distributed other than: (i) in circumstances where the AIFM holds the applicable registrations, authorisations or licenses in respect of the Fund pursuant to laws of any EEA Member State implementing AIFMD (a list of jurisdictions in which the Fund may be marketed pursuant to AIFMD is available from LaSalle on request); or (ii) where the AIFM does not hold such authorisations, etc., in circumstances which either: (A) do not require a registration, authorisation, license or other form of authorisation pursuant to the AIFMD; or (B) at the unsolicited request of the recipient, in which case the recipient acknowledges and agrees that this Information and any other materials relating to the Fund are provided solely at the request of the recipient and not as a result of any unsolicited marketing by LaSalle, the AIFM or any of its affiliates. In relation to each EEA Member State which has implemented Directive 2003/71/EC (as amended) (the "Prospectus Directive), this Information does not, and shall not, constitute an offer to the public of any interests in the Fund nor an invitation to the public in connection with any offer. No action has been undertaken or will be undertaken to make an offer to the public of the interests requiring a publication of a prospectus in any Member State. As a result, the interests may only be offered in relevant Member States: (A) to qualified investors; or (B) in any other circumstances not requiring publication of a prospectus pursuant to Article 3(2) of the Prospectus Directive.
Interests in the Fund may not be offered, sold or otherwise made available to any retail investor within the meaning of Regulation (EU) no. 1286/2014 (the "PRIIPS Regulation") in the territory of the EEA, including investment made in the EEA by such entities or persons from third countries in the territory of the EEA. Consequently, no key information document required by the PRIIPS Regulation for offering or selling interests in the Fund or otherwise making interests in the Fund available for retail investors in the EEA will be prepared.
Solely for the purposes of LaSalle's product approval process, the target market assessment in respect of interests in the Fund has led to the conclusion that: (i) the target market for the interests is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the interests to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the interests (a "distributor") should take into consideration LaSalle's target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the interests (either by adopting or refining LaSalle's target market assessment) and determining appropriate distribution channels.
Important Notice to Potential Investors Located in the United Kingdom
The Fund is an unregulated collective investment scheme whose promotion is restricted by the United Kingdom's Financial Services and Markets Act 2000. Accordingly, an offer of interests in the Fund shall only be addressed by LaSalle to persons: (A) outside the UK receiving it non-electronically; or (B) falling within one or more categories of exempt persons under the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (the "CIS Promotion Order"), including: (i) professional investors in accordance with article 16(2) of the CIS Promotion Order; (ii) investment professionals (as defined in article 14 of the CIS Promotion Order); (iii) high net worth entities (as defined in article 22 of the CIS Promotion Order); and (iv) any other person to whom it may be lawfully communicated (all such persons together being referred to as "relevant persons"). Persons who are not relevant persons must not act on or rely on this Information or any of its contents. Interests in the Fund are only available to relevant persons.
Important Notice to Potential Investors Located in Germany
The Fund has been registered with the Bundesanstalt für Finanzdienstleistungsaufsicht according to section 323 KAGB for marketing to professional investors and semi-professional investors in the meaning of section 1 (19) no. 32 and no. 33 KAGB. The Fund must not be marketed to retail investors (Privatanleger) in the meaning of section 1 (19) no. 31 KAGB.
According to section 323 KAGB interests in the Fund may only be marketed to prospective investors in Germany which are professional investors or semi-professional investors. This Information is not intended for, should not be relied on by and should not be construed as an offer to any other person.
Important Notice to Potential Investors Located in The Netherlands
Interests in the Fund may only be marketed to prospective investors which are domiciled or have a registered office in the Netherlands in respect of which AIFMD marketing rights have been exercised by the AIFM under Article 31 or Article 32 of AIFMD and in such cases only to persons which are Professional Investors. This Information is not intended for, should not be relied on by and should not be construed as an offer to any other person.
Important Notice to Potential Investors Located in Switzerland
Swiss Representative: Mont-Fort Funds AG, 63 Chemin Plan-Pra, 1936 Verbier, Switzerland
Swiss Paying Agent: Banque Cantonale de Genève, 17, Quai de l'Ile, 1204 Geneva, Switzerland
Place of Performance and Jurisdiction: In respect of interests distributed in or from Switzerland, the place of performance and jurisdiction is the registered office of the Swiss Representative.
Important Notice to Potential Investors Located in Japan
No public offering is being made to investors resident in Japan. This information is being provided only to a limited number of qualified institutional investors in Japan pursuant to applicable exemptions from the registration requirements of the Financial Instruments and Exchange Law. None of LaSalle entities are or will be registered as a “financial instruments firm” to market securities under Article 2, paragraph 1, item 10 of the Financial Instruments and Exchange Law of Japan. Neither the Financial Services Agency of Japan nor the Kanto Local Finance Bureau has evaluated the accuracy or adequacy of this Information or otherwise approved or authorised the delivery of this Information to investors resident in Japan.
Important Notice to Potential Investors Located in Australia
This Information is designed for institutional and wholesale investors only. This Information is not being (and should not be) distributed to any person in Australia who is not a ‘wholesale client' as defined in section 761G of the Corporations Act 2001 (Cth). By accepting this Information, you represent, warrant and agree that you are an institutional investor, a non-private pension fund, a large corporation, an investment fund which has not been established solely for the purpose of investing in the investment opportunity, or that you are a professional investor. A product disclosure statement in respect of the investment opportunity will not be issued in Australia and will not be lodged or registered with Australian Securities and Investments Commission or with any regulatory body in any other country.
* Investors in Australia must note:
(i) LaSalle Investment Management (an English private unlimited company) is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 (Cth) in respect of the financial services; and
(ii) LaSalle Investment Management is regulated by the Financial Conduct Authority under UK laws, which differ from Australian laws.
Important Notice to Potential Investors Located in All Other Jurisdictions
The recipient acknowledges and agrees that this Information and any other materials relating to the Fund are provided solely at the request of such person and not as a result of any unsolicited marketing by the Fund, LaSalle or their affiliates in respect of the Fund. Further, any subsequent application to subscribe for interests in the Fund by such persons will be made at the initiative of such persons.
By accepting these terms, the recipient confirms that it is a Professional Investor.
