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LaSalle raises $1b in three Asia-focused vehicles

by Andrea Waitrovich

LaSalle Investment Management has announced a $1 billion close for its LaSalle Asia Opportunity Fund IV and two other separate account mandates. The final close for LAOF IV secured total commitments of $485 million plus $100 million of co-investment capital for China logistics deals. The amount raised will provide buying power for approximately $3 billion worth of assets.

LAOF IV is the fourth in a series of opportunity funds launched by LaSalle for the Asia Pacific region, focused on building a diversified portfolio of assets in Australia, China, Japan and South Korea. Investors in the fund include sovereign wealth funds and pension funds from the United States, the Middle East and Europe.

Its predecessor, LaSalle Asia Opportunity Fund III, closed in 2008 with approximately $3 billion in equity commitments and with leverage will have a total potential buying power of $10 billion to $12 b

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