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LaSalle Investment Management receives additional USD200 million of equity from the Teacher Retirement System of Texas

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LaSalle Investment Management has received USD200 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 USD200 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 specialise 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, says: “We have fully committed the first USD200 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.”

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