Americas – Page 173
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News
Pension funds consider shift back into property
EUROPE – European and North American pension funds are planning to increase investments in real estate over the coming year and the majority of schemes are reviewing external managers, an asset allocation survey has suggested.
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San Mateo County to stay with open-ended fund
UNITED STATES - San Mateo County Employees Retirement Association has rescinded a $70m (€48.5m) capital redemption order for the Invesco Core Real Estate Fund as the value of its overall investment portfolio has improved significantly over the past couple of years and officials no longer feel the need to withdraw ...
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Ohio Police & Fire places blind faith in LaSalle
UNITED STATES - Ohio Police & Fire Pension Fund is hoping to tap real estate opportunities as the market improves and made a $60m (€41.6m) allocation to the LaSalle US Property blind pool investment fund.
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Wisconsin turns to real estate fund of funds
UNITED STATES - Wisconsin State Investment Board has made a $27.5m (€18.8m) investment in the Core Plus Real Estate Fund Q, which is structured by the pension fund as a convertible preferred equity investment.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
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MagazineThe gap is closing
Recent evidence on property prices and market liquidity along with developments in the broader capital market suggest prices are firming and buyer valuations are increasing, say Jim Clayton and Michael Gately
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CalPERS considers real estate clearout
US – California Public Employees’ Retirement System (CalPERS) has, or in is in the process of, sacking a number of real estate managers, according to a report from its advisers Pension Consulting Alliance (PCA).
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LA Fire and Police raise concerns over real estate performance
UNITED STATES- Los Angeles Fire and Police Pensions has placed Heitman Capital, Sentinel Real Estate and Urdang Capital on watch after underperforming the pension fund’s benchmark.
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Magazine
Thaw begins
Expectations of buyers and sellers are narrowing as the region approaches the bottom of the cycle. Lynn Strongin Dodds reports
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Magazine
Canada’s stable footing
Canada’s prudent approach has helped it weather the downturn better than its southern neighbour and makes it a good fit for current investor sentiment. But it is not immune to surprises, as Stephanie Schwartz-Driver reports
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News
CalSTRS’ real estate falls another $327m
UNITED STATES - The California State Teachers Retirement System saw the value of its real estate portfolio fall by another $327m (€217m) during the third quarter of 2009, confirming the difficult market conditions that US pension funds are still suffering.
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Florida pension fund dips into real estate
UNITED STATES – The City of Lakeland (Florida) Employees’ Pension and Retirement System is planning to invest in real estate for the first time.
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CalPERS signs to infrastructure with long-term view
UNITED STATES - California Public Employees Retirement System has made a commitment of $300m (€201m) to Alinda Capital Partners’s Infrastructure Fund II, even though the value of its earlier investments have yet to reach their original capital value.
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SanFran C&C switches CMBS managers
UNITED STATES - San Francisco City and County Employees’ Retirement System has fired Brookfield Investment Management as one of its high-yield commercial mortgage-backed security managers, and handed the account to its other existing high-yield CMBS manager, Pyramis Global Advisors.
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Orange County targets core and debt strategies
UNITED STATES - Orange County Employees Retirement System and its consultant, Callan Associates, have determined that core and distressed debt opportunities will offer the most compelling investment possibilities in the near future real estate market.
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US pension funds warned of prolonged property dislocation
US – There are concerns in the US that pension fund allocations to real estate could suffer as a result of prolonged dislocation and modest performance in the coming years, the latest report by PricewaterhouseCoopers and ULI has revealed.
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SanFran City & County suffers fresh real estate drop
UNITED STATES - San Francisco City and County Employees Retirement System took another hit on its real estate portfolio in the first half of 2009, as the falling market continued to hurt investment returns and income.
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News
Mercer expands its real estate staff
UNITED STATES - Mercer Investment Consulting has expanded its US real estate team and hired Chad McWhorter as an associate.
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News
'Stuck' on governance: perspectives at PREA
Governance issues and the investor/manager relationship occupied centre stage at this year’s PREA Annual Plan Sponsor Real Estate Conference in Beverly Hills, as Martin Hurst reports.
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News
Texas Teachers moves into core investments
UNITED STATES - Teacher Retirement System of Texas has widened its investments in core real estate and hired three real estate managers to look after $800m (€532.7m).
