Investors’ appetite for Asian real estate continues to rise following reports that an Asia focused fund launched by property fund manager LaSalle Investment Management has raised more than US$1 billion from investors.
The news was disclosed by US pension scheme Arkansas Teacher Retirement System, one of the fund’s limited partners.
According to the document approving the pension fund’s $50 million allocation to the LaSalle Asia Opportunity VI fund, the vehicle has raised $1.06 billion.
The fund, which is eyeing a target of $1.5 billion in capital, will focus on a mixture of logistics, office, retail and residential properties in Japan, China, Australia, South Korea and Singapore.
The fund’s predecessor, Asia Opportunity V, which launched in 2016, raised more than $1.1 billion.
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