Teachers’ Retirement System (TRS) of the State of Illinois has increased its investment in Asian opportunistic real estate via commitments to funds managed by LaSalle Investment Management and Blackstone.
The $64bn (€53.3bn) pension fund told IPE Real Assets that it has made a $200m commitment to LaSalle Asia Opportunity VI, a real estate fund seeking a $1.5bn capital raise.
LaSalle declined a request for comment.
TRS Illinois has made a $100m commitment to .
Last week, IPE Real Assets reported that Blackstone had raised $4bn for the Asia III fund and expected to more than double this to $9bn.
TRS Illinois also said it had hired Brasa Capital for the first time with a $60m commitment to the Brasa Real Estate Fund II fund.
The fundraising target of the Brasa Capital fund is currently unknown. The manager’s previous fund in the series raised $120m in 2019.
Brasa Capital is known for seeking smaller US property in the West region and Texas.
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