LaSalle Investment Management raised over $2.2 billion for its latest real estate fund focused on key Asia Pacific markets — Australia, China, Hong Kong, Japan, South Korea and Singapore.
LaSalle Asia Opportunity VI is the firm’s sixth closed-ended opportunistic fund series focusing on mispriced assets in the region with the aim to add value through repositioning and redevelopment. To date, the LaSalle Asia Opportunity Fund series has invested in over $13 billion worth of assets. In the last 10 years, the average asset returns generated by the series have exceeded its target of 18% net IRR.
“We are focused on bolstering our platform in this strategy across all regions where we operate, to meet the continued investor demand for enhanced alpha throughout market cycles,” commented Mark Gabbay, global chief executive officer at the $82 billion LaSalle Investment Management, in a statement.
Based in Hong Kong, Gabbay shifted to the global CEO role in 2021 after serving as Asia Pacific CEO and CIO. The fund’s investment strategy is led by Kunihiko (Nick) Okumura and Claire Tang in their expanded roles as co-CIOs of LaSalle Asia Pacific, which they assumed in 2021.
“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,” added Keith Fujii, head of Asia Pacific at LaSalle.
