LaSalle Investment Management, the real estate investment manager of the Jones Lang LaSalle group, has partnered with Taiwanese investment firm Taishin Investment Trust to launch an open-ended global real estate securities fund for Taiwanese investors.
Taishin Global Real Estate Securities Fund will invest in REITs across all regions and will use the UBS Global Investor Index as its benchmark. It will be distributed by Taishin, a subsidiary of Taiwanese holding company Taishin Financial Holdings, with LaSalle acting as investment advisors.
LaSalle manages $11 billion of assets globally, $6.7 billion of which is invested in global real estate securities. The firm has been steadily increasing its activities in Asia. Earlier this month its Japan division said it plans to buy a 32.8 percent stake in a Japanese real estate investment trust for $133 million (€94.4 million). The REIT, e-Asset Investment Corporation, is listed on the Tokyo Stock Exchange and has 22 office, commercial and residential properties worth 64.8 billion yen ($575 million). The firm is reportedly raising a $2-billion (€1.4 billion) Asia property fund and a $750 million fund for logistics buildings in Japan. The firm also recently agreed to acquire a 50 percent interest in the Westfield Doncaster mall in Victoria, Australia for A$738 million ($606 million, €443 million).