LaSalle Investment Management raises £804m

The Chicago-based firm closed its third mezzanine fund.

LaSalle Investment Management held a final close for its LaSalle Real Estate Debt Strategies III at £804 million, surpassing its original £750 million target.

The fund attracted 17 existing and new investors for the vehicle.

Its predecessor fund raised £600 million in 2014 from: Caisse des Depots et Consignations, North Carolina State Treasury, University of Manchester Superannuation Scheme, Cambridge University Endowment Fund, Dow and Japan Fund Management (Luxembourg) S.A.

The fund will use the capital to make mezzanine debt investments in Western Europe, primarily in the UK’s real estate market.