LaSalle Investment Management is looking to secure €1 billion of capital for its new real estate debt fund, LREDS IV, which is scheduled to launch by the end of this year.

LaSalle’s debt investments and special situations team invests across western Europe for its real estate debt fund series, lending against assets which offer “compelling” risk-adjusted returns across mezzanine and whole loan investment opportunities.

Of the more than €930 million raised for the fund’s predecessor, LREDS III, €417 million of loans have been committed to date this year, putting it ahead of its deployment schedule. Acting through LREDS III, LaSalle recently provided more than €200 million of mezzanine loans to funds managed by Blackstone to finance three portfolios of last-mile logistics and industrial assets.