LaSalle raises more than £800m for Europe debt fund

LaSalle Investment Management has held a final close of its LaSalle Real Estate Debt Strategies III (LREDS III) fund with aggregate commitments of £804 million ($1.07 billion), exceeding its £750 million ($994 million) target.

LREDS III invests across Western Europe, with a focus on the United Kingdom. Its strategy is to focus on lending against quality assets with best-in-class sponsors; the combination of which offers compelling risk-adjusted returns across mezzanine and whole loan investment opportunities.

LREDS III has attracted 17 LPs from all over the world, comprising a diverse mix of investors from Europe, the Middle East, Asia and the United States. The fund retained support from existing investors as well as attracting capital from investors that were new to the fund series.

The LREDS III closing, combined with the LaSalle Residential Finance third tranche of £260 million ($344 million) secured earlier in the year, brings the capital raised for La