California State Teachers Retirement System (CalSTRS) has grown its international real estate portfolio by making $465m (€422m) worth of commitments to funds managed by LaSalle Investment Management and Harrison Street.
CalSTRS said it has made a $200m commitment directly into the LaSalle Asia Opportunity Fund VI fund and has placed $100m into a co-investment sidecar controlled by the pension fund.
LaSalle, which is seeking a $1.5bn capital raise for Fund VI, is expected to complete the fundraising in June, according to people familiar with the matter.
LaSalle declined a request for comment.
CalSTRS disclosed in its real estate commitment activity report that it approved a €150m commitment to the Harrison Street European Property Partners III fund during the second half of last year. The fund raised €800m at its close last month.
CalSTRS has also approved a $256m follow-on commitment to Blackstone REP Account C, a global co-investment real estate strategy with Blackstone which started in 2017 with a $500m commitment.
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