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LaSalle Opportunity Fund Raises $1B for Asia Investments

CHICAGO–LaSalle Investment Management, a locally based real estate fund manager, has compiled $1 billion of equity commitments from 34 investors for its LaSalle Asia Opportunity Fund II. The commitments will allow the company to invest $4 billion, with leverage, in Northern Asia.

By Dana Dubriwny | Updated on July 18, 2005

CHICAGO–Emulating the success of its first Asia Opportunity Fund, LaSalle Investment Management Inc. has completed the fundraising of its LaSalle Asia Opportunity Fund II with $1 billion of equity commitments from 34 investors, including major pension funds, endowments and foundations, and private individuals from the United States, Europe, the Middle East and Asia Pacific.

LaSalle’s Opportunity II fund will acquire a diversified portfolio of approximately $4 billion across the Northern Asia region throughout the next few years. The company says it will acquire and manage office, retail, residential, logistics, luxury resort and other commercial properties throughout Asia, with a focus on Japan, Korea, and Greater China. Roughly 20% of the fund has already been committed to nine properties in Japan and Korea, and the company is in negotiations for properties that would comprise a further 20% of the fund.

Jack Chandler, CEO of LaSalle Investment Management-Asia Pacific, says capital was raised in just seven months. He attributes the fund’s success to the investment potential in Asia realized by JLL’s clients. “In recent years, Asia has consistently been the world’s fastest growing regional economy and the current positive macroeconomic conditions, property fundamentals and increasing transparency create an excellent opportunity to realize attractive risk-adjusted returns in a range of Asian countries,” Chandler said in a prepared statement.

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