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LaSalle’s Asia-Pacific opportunistic real estate fund rakes in $2.2bn | News


LaSalle Investment Management’s sixth Asia-Pacific opportunistic real estate fund has raised over $2.2bn (€2.1bn) at its close, giving the fund $7bn of firepower to invest in assets.

LaSalle said the amount raised for LaSalle Asia Opportunity VI (LAO VI), including sidecars and co-investment programmes, exceeded the fund’s initial $1.5bn target. The predecessor fund raised $1.15bn at its close in April 2018. 

The manager said LAO VI’s fundraising was backed by global institutional investors.

As previously reported, Arkansas Teacher Retirement System, Teachers’ Retirement System of the State of Illinois, California State Teachers Retirement System and the Los Angeles Water and Power Employees’ Retirement Plan each made a commitment to the fund.

The value-add/opportunistic fund targets repositioning, new development and distressed real estate investment opportunities in Asia Pacific’s key markets including Australia, China, Hong Kong, Japan, Korea and Singapore.

“We are focused on bolstering our platform in this strategy across all regions where we operate, to meet the continued investor demand for enhanced alpha throughout market cycles,” said Mark Gabbay, LaSalle Investment Management’s global CEO.

LaSalle said LAO VI has so far invested approximately 25% of the committed capital in a diversified portfolio.

Keith Fujii, the head of Asia Pacific at LaSalle Investment Management, said: “The LaSalle Asia opportunity fund series offers investors access to a region with healthy market fundamentals and risk-return diversification opportunities afforded by varying market cycles, backed by the expertise and experience of LaSalle’s long-standing Asia Pacific platform which has been operating since 2000.”

Marc Montanus, fund manager for the LaSalle Asia opportunity fund series, said: “We are pleased to have raised over $2.2bn for LAO VI and to have again exceeded our initial target for the fund, especially against the economic headwinds brought by the pandemic over the past two years.

”This is testament to our investors’ confidence in LaSalle’s excellent track record in deploying capital and generating strong investment performance for our clients.”

To read the latest edition of the latest IPE Real Assets magazine click here.



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