LaSalle Investment Management has raised $335 million to date for LaSalle Asia Opportunity V. The Chicago-headquartered firm has also increased its target from $750 million to $1 billion. A final closing is anticipated towards the end of the year.
Its previous fund raised $485 million in 2014.
Investors committed to LaSalle Asia Opportunity V include the Arkansas Teacher Retirement System (ATRS) and the San Diego City Employees' Retirement System. US investors contributed $71.1 million to the first closing, according to an SEC filing.
The fund will target opportunistic returns in a diverse number of properties in the Asia-Pacific.