San Diego City Employees’ Retirement System committed $20 million to LaSalle Asia Opportunity Fund V, a real estate fund managed by LaSalle Investment Management, said the action summary for the May 13 board meeting of the $6.5 billion pension fund.
LaSalle Asia Opportunity Fund V will look to “acquire assets in need of repositioning, development or redevelopment, and active asset management to create core properties to then sell into the institutional marketplace,” a staff memo stated.
The pension fund previously invested in predecessor fund LaSalle Asia Opportunity Fund IV.
As of May 13, the pension fund had an 11% real estate target.
