U.S.-based LaSalle raises over $2.2bn for Asia property fund

BANGKOK -- Chicago-based real estate investor LaSalle Investment Management said it has raised over $2.2 billion for its Asia-Pacific value-add property fund LaSalle Asia Opportunity VI (LAO VI).

The fund, which exceeded its initial target of $1.5 billion, received commitments from global institutional investors, including pension funds from U.S. states such as the Arkansas Teacher Retirement System, the Teachers' Retirement System of Illinois, the California State Teachers' Retirement System and the Los Angeles-based Water and Power Employees' Retirement Plan.