LaSalle raises $2.2bn for sixth Asia Pasific opportunistic fund

LaSalle raises $2.2bn for sixth Asia Pasific opportunistic fund

LaSalle Investment Management has raised over US$2.2 billion of equity for LaSalle Asia Opportunity VI (LAO VI) fund, including sidecars and co-investment programmes, exceeding its initial target of US$1.5 billion.

LaSalle said the committed capital would provide buying power for over US$7 billion worth of assets.

LAO VI is the sixth in LaSalle’s closed-ended, opportunistic fund series focusing on Asia Pacific.

In keeping with its predecessor funds, LAO VI seeks to take advantage of mispriced assets with opportunities to add value through repositioning and redevelopment in Asia Pacific’s key markets including Australia, China, Hong Kong, Japan, Korea and Singapore, having invested approximately 25% of committed capital so far in a diversified portfolio.

The fund’s investment strategy is led by Kunihiko (Nick) Okumura and Claire Tang in their expanded roles as Co-Chief Investment Officers of LaSalle Asia Pacific, which they assumed in 2021 after former Asia Pacific CEO and CIO Mark Gabbay became LaSalle’s Global CEO. With over 40 years of real estate experience between them, Nick and Claire continue to provide steady leadership and build momentum for the growth of LaSalle’s business in the region.

Keith Fujii, Head of Asia Pacific, commented: “The LaSalle Asia Opportunity Fund series offers investors access to a region with healthy market fundamentals and risk-return diversification opportunities afforded by varying market cycles, backed by the expertise and experience of LaSalle’s long-standing Asia Pacific platform which has been operating since 2000.”

Marc Montanus, Fund Manager for the LaSalle Asia Opportunity Fund Series, added: “We are pleased to have raised over US$2.2 billion for LAO VI and to have again exceeded our initial target for the Fund, especially against the economic headwinds brought by the pandemic over the past two years. This is testament to our investors’ confidence in LaSalle’s excellent track record in deploying capital and generating strong investment performance for our clients.”