All Americas articles – Page 155
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New York CRF takes a dip in Lake fund
US - The New York State Common Retirement Fund (NYSCRF) has committed $300m (€239m) to the Lake Montauk Real Estate Fund, a fund of fund managed by Franklin Templeton Real Estate Advisors.
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CBRE buys on Broadway
US – CB Richard Ellis Investors, the international real estate investment management firm, has purchased a 44-storey office building in New York for a partnership of institutional investors, making it the largest transaction in the state this year.
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Illinois State pursues FoF strategy
UNITED STATES - State Universities Retirement System of Illinois has approved a $75m (€60m) commitment to AVP Advisors for a fund-of-funds real estate investment strategy.
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Kansas PERS commits to debt fund
UNITED STATES - Kansas Public Employees Retirement System has approved a $25m (€19.5m) commitment to the Square Mile Partners III structured finance commingled fund.
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Recession pressures force HSH to downsize
GERMANY – HSH Nordbank is to dismantle its real estate business in the United States and later Western Europe as part of its plans to downsize and cope with the tough economic climate.
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US pension funds stick with Westbrook
UNITED STATES - Three pension funds in the United States have decided to keep their original commitments in the Westbrook Real Estate Fund VIII, despite being given the option to reduce their holdings.
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CalSTRS signed just one deal in Q4
UNITED STATES - California State Teachers Retirement System significantly slowed its real estate investing during the last quarter of 2008 and added just one small investment to its portfolio.
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Quebec loses a fifth on real estate
CANADA – The Caisse de dépôt et placement du Québec’s real estate portfolio declined by 21.9% in 2008, contributing to a loss worth a quarter of the firm’s total value.
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Real estate holding lessened pain for OMERS
CANADA – The Ontario Municipal Employees Retirement System (OMERS) suffered an overall net loss of $8bn (€6.25bn) in 2008, although its real estate investments performed relatively well despite the financial downturn.
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Fund fall forces Alaska to shelve alternatives plans
US – The Alaska Permanent Fund Corporation (APFC) Board has scrapped some of its alternative investment plans following the corporation’s decline in value in 2008.
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Illinois Teaches ends two separate account relationships
UNITED STATES – The Teachers Retirement System of the State of Illinois is terminating separate account relationships with Commonwealth Realty Advisors and Stone Levy, and has asked Heitman to manage some of the assets instead.
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Washington State extends real estate deal by $250m
UNITED STATES - Washington State Investment Board has approved a $250m ($195.3m) follow-on investment with Corporate Properties of the Americas.
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S&P predicts further gloom in US housing
US – The residential real estate market in the United States looks set to continue falling in 2009 after house price declines reached record lows at the end of 2008, according to Standard & Poor’s Case-Shiller Home Prices Indices.
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Canadian real estate hits 14-year low
CANADA – Canadian real estate returns fell 12.1% in 2008 to a 14-year low, according to figures released by Investment Property Databank (IPD).
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CalPERS signs real estate exec
US – The California Public Employees’ Retirement System (CalPERS) has appointed James Lasher as senior portfolio manager of its real estate housing portfolio.
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Pennsylvania withdraws from commingled commitments
US – The Pennsylvania Public School Employees’ Retirement System (PSERS) has pulled out of $925m (€724m) worth of real estate commitments.
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Mercer buys Callan to create consulting giant
UNITED STATES – Callan Associates, the San Francisco-headquartered consultant to major investors such as US pension funds, is being bought by rival firm Mercer to create one of the largest investment consulting businesses in the US.
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Tough year sees CPP investments fall 13%
CANADA – The Canadian Pension Plan fund declined by C$13.8bn (€15.42bn) in the nine months to 31 December 2008, its investment board has revealed in its latest financial results.
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OMERS steps up infrastructure holding
CANADA – Ontario Municipal Employees Retirement System (OMERS) has purchased a new asset management business as part of its plans to expand into the energy sector in Western Canada.
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ING Clarion expands into the DC pensions space
UNITED STATES - ING Clarion Partners is entering the US defined contribution (DC) investor market for the first time, as officials believe there will be significant growth in the DC pensions arena.
