LaSalle Investment Management (LaSalle) has received $200 mln (EUR 140 mln) in a second round of equity capital from the Teacher Retirement System of Texas (TRS) to invest in real estate co-investment opportunities around the globe.

This commitment is a continuation of the partnership formed between LaSalle and TRS in 2009, and the discretionary co-investment fund will continue to be managed by LaSalle.

LaSalle said 'it will continue to seek out best-in-class real estate opportunities across all property types, risk profiles, capital structures, and geographies'. Specifically, the fund will invest in real estate co-investment opportunities presented to LaSalle by TRS's real estate general partners (GPs) who specialise in such investments.

The fund will focus on existing relationships within TRS's stable of GP fund managers, although LaSalle will also consider investing a portion of the capital into co-investment opportunities with GPs in which TRS does not yet have an existing relationship.

'We have fully committed the first $200 mln in co-investments alongside five different general partners of TRS over the last two years, and we are very pleased with this additional commitment. We believe it speaks to the success of the program, which we look forward to continuing with TRS,' said Dan Witte, managing director of LaSalle IM.