LaSalle Investment Management has kicked off another fund with $320 million in founding capital commitments.
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The firm’s newest fund, the LaSalle Global Navigator Fund, would cater to small- and medium-sized institutional investors with a diversified in-place portfolio of investments across a range of investment vehicles in the U.S., Europe and Asia. The fund will be able to invest across private and public equity, as well as private and public debt.
Ed Casal, CEO of LaSalle GPS, said in prepared remarks that the firm is seeing demand from smaller and medium-sized investors who want to invest more but may not be able to build or support a global investment portfolio on their own.
According to LaSalle, four investors contributed to the $320 million in initial funding, which includes a $25 million co-investment from JLL. The momentum for LaSalle’s Global Navigator Fund kicked off with recently completed investments into a U.S. medical office fund and a U.K. student accommodation fund. The firm also noted that the fund has significant uncommitted capital that will allow it to make focused investments based on the fast-moving digital world.
LaSalle’s global fund presence
Catriona Allen, LaSalle Global Navigator’s fund manager, said in prepared remarks that the launch and momentum from the new fund follows the growing demand for global investment opportunities across the risk spectrum. Allen added in her prepared statement that the Global Navigator Fund will continue to look for investments across different geographies, managers and underlying asset types.
However, LaSalle Investment Management’s interest in worldwide investments predates its Global Navigator Fund. In November, the firm also opened a real estate fund in Japan that was seeded with $560 million from Japanese investors and loans from major Japanese financial institutions. In Europe, LaSalle has recently closed its fourth fund in its Real Estate Debt Strategies series. The fund that was focused on real estate investments across Western Europe closed at approximately $512 million.