LaSalle Investment Management receives additional US $200 million of equity (US/UK)

LaSalle Investment Management has announced it has received US $200 million (approx. €142 million) in a second round of equity capital from the Teacher Retirement System of Texas ('TRS') to invest in real estate co-investment opportunities around the globe.

This commitment represents a continuation of the partnership formed between LaSalle and TRS in 2009, and the discretionary co-investment fund will continue to be managed by LaSalle.

With this second US $200 million equity allocation, LaSalle will continue to seek out best-in-class real estate opportunities across all property types, risk profiles, capital structures, and geographies. Specifically, the fund will invest in real estate co-investment opportunities presented to LaSalle by TRS's real estate general partners ('GPs') who specialize in such investments. The fund will focus on existing relationships within TRS's stable of GP fund managers, although LaSalle will also consider investing a portion of the capital into co-investment opportunities with GPs in which TRS does not yet have an existing relationship.

Dan Witte, Managing Director, LaSalle Investment Management comments: "We have fully committed the first US $200 million in co-investments alongside five different general partners of TRS over the last two years, and we are very pleased with this additional commitment. We believe it speaks to the success of the program, which we look forward to continuing with TRS."

Source: Citigate Dewe Rogerson

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