Ventura County pension fund slates $75 million for LaSalle Value Partners US IX

The Ventura County (Calif.) Employees’ Retirement Association (VCERA) has approved a $75 million re-up commitment to LaSalle Value Partners US IX, according to a recent board meeting document.

LaSalle Investment Management pursues a conservative, value-add real estate strategy, and will seek diversification by both property type and geography within the United States. According to a meeting document from VCERA, LaSalle is particularly focused on assets that are more linked to demographic trends as a return driver, rather than GDP growth. LaSalle looks to identify markets and subsectors where these demographic trends, such as population growth and/or migration, are driving tenant-demand growth and where there is a shortage in supply.

LaSalle is seeking to raise $1.25 billion for the vehicle, which will make 25 to 40 investments and pursue deal sizes between $50 million and $200 million.

LaSalle is an existing manager for VCERA, which invested in the eight previ