Tuesday, 5 May 2015
Last updated 4 hours ago
Jul 23 2013 | 1:20pm ET
The $112 billion Teacher Retirement System of Texas has allocated another $200 million in equity capital to LaSalle Investment Management.
The allocation is to LaSalle's Ranger Co-Investment Fund III, which invests in real estate co-investment opportunities around the globe.
This is the third time the pension fund has committed to LaSalle, bringing its total investment in the Ranger co-investment fund series to $600 million.
In addition to the $200 million commitment to Ranger III, LaSalle will also have the ability to re-invest the capital of the previously combined $400 million in Ranger I and Ranger II. Ranger I is fully invested and Ranger II will be fully invested this summer.
LaSalle said Ranger III would continue seeking best-in-class real estate co-investment opportunities across all property types, risk profiles, capital structures and geographies. The fund intends to invest the majority of the capital alongside TRS’s existing stable of general partners, although LaSalle will also consider investing with new GPs.
Dan Witte, managing director at LaSalle Investment Management, said in a statement: “Co-investment is an important and growing component of the Teacher Retirement System of Texas’ real estate activity. We are very pleased to have their continued vote of confidence to manage the program on their behalf. Ranger has closed co-investments with 10 different GPs and we look forward to further expanding our partnerships.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…