LaSalle Asia Opportunity V raises over US$1.1 Billion
SINGAPORE (April 16, 2018) — LaSalle Investment Management has raised over US$1.1 billion of equity for LaSalle Asia Opportunity V (“LAO V” or “the Fund”), exceeding the initial US$750 million target announced at the Fund’s launch in August 2016. The fifth in LaSalle’s series of closed-end, pan-Asia opportunistic funds has secured total commitments of US$1.15 billion, of which 85% is assigned to the Fund and 15% is targeted for co-investments. The total capital was secured from 20 external institutional investors from Asia, Europe, the Middle East, and the United States.
Mark Gabbay, Chief Executive Officer and Chief Investment Officer – Asia Pacific, LaSalle: “Investors are drawn to this region for its healthy market fundamentals, risk-return diversification opportunities afforded by varying market cycles, and the rising demand for core assets. The robust global investor demand for LaSalle’s opportunistic fund product in the region highlights not just Asia Pacific’s emergence as one of the most attractive destinations for real estate investors globally, but also our investors’ confidence in LaSalle’s excellent record in deploying capital and generating strong investment performance for our clients.”
LAO V follows the same strategy as its predecessor fund, and seeks to take advantage of mispriced assets with opportunities to add value via repositioning and redevelopment in target markets including Australia, China, Hong Kong, Japan, Korea and Singapore. The capital raised will provide buying power for approximately US$3.3 billion worth of assets.
Marc Montanus, Fund Manager for the LaSalle Asia Opportunity Series, commented: “I am delighted that we have exceeded our initial target and raised over US$1 billion; we appreciate the vote of confidence that our existing and new investors have placed in us with LAO V. The Fund has already demonstrated strong momentum with its investment activity and I look forward to announcing more updates throughout the year.”
The Fund has invested approximately 37% of committed capital so far, and has a diversified portfolio of investments in major Asia cities such as Tokyo, Osaka, Nagoya, Singapore, Shanghai, Hangzhou, across multiple sectors, office, retail, hotel/service apartment and logistics.
LAO V is the successor fund to LaSalle Asia Opportunity IV, which committed US$585 million to a similar strategy and is expected to significantly outperform its target net return of 18%. As of Q1 2018, LAO IV has returned 89% of the equity deployed and since inception the Fund’s returns are 39.1% IRR and 1.61x EM.
To-date, LaSalle has invested an aggregate of approximately US$11 billion on behalf of the LaSalle Asia Opportunity Series in over 150 investments and currently has a platform of 162 people in the Asia Pacific region, with offices in the Fund’s six target markets.
 Since inception returns of LAOF IV are levered USD returns based on the actual cash flows generated, Net Asset Value as of 31 December 2017, before performance fees. Past performance is not indicative of future results.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, we manage approximately $71 billion of assets in private equity, debt and public real estate investments as of Q4 2020. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.