LaSalle Asia Opportunity VI, LaSalle Investment Management’s sixth Asian opportunistic real estate fund, has added the California State Teachers’ Retirement System (CalSTRS) to its investor mix.
The pension fund has put $300 million into the opportunistic vehicle, according to various news sources. The fund’s investor base also includes U.S. public pension funds and Asian and Middle Eastern sovereign wealth funds.
The fund’s predecessor, LaSalle Asia Opportunity V, closed in 2018 with $1.15 billion of equity, exceeding its initial target of $750 million. The fund series seeks to take advantage of mispriced assets with opportunities to add value via repositioning and redevelopment in target markets including Australia, China, Hong Kong, Japan, Korea and Singapore.
LaSalle is seeking to raise $1.5 billion for its newest fund.
For more information about this fund and other
