LaSalle Investment Management on Wednesday announced the launch of the E-Regi special fund which raised around EUR 170 mln of equity from major institutional investors and pension funds. The fund, which aims to reach a total size of EUR 230 mln, will invest in commercial real estate assets in a number of European cities.

The vehicle is targeting a 20 to 40% exposure to German metropoles and a further 20 to 40% to the main French cities. The UK is planned to account for 10 to 30% of investments while Northern Europe will represent another 20%. The fund's main focus will be on offices (40-60%), with retail and logistics expected to represent another 30 to 50% and 20% respectively. Deal size will range between EUR 20 and EUR 40 mln.

It is the second special fund launched by LaSalle IM's KAG fund management arm.