Americas – Page 176
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News
Fresno County acts on concerns about value-added manager
UNITED STATES - Fresno County Employees Retirement Association has changed its mind about the appointment of a real estate manager to look after a $30m (€21.7m) allocation for a value-added investment as it has reservations about the firm’s ability to raise sufficient capital.
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Mass PRIM fires REIT manager
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has terminated its separate account REIT manager relationship with Wellington Management in part on the back of poor performance and awarded a new $40m (€28.6m) allocation to the AFL-CIO Housing Investment Trust Fund.
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Kansas PERS expands into infrastructure
UNITED STATES - Kansas Public Employees Retirement System has made its first ever investment in infrastructure with a $50m (€35.2m) commitment into the Brookfield Americas Infrastructure Fund.
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Mark turmoil encourages AlaskaPerm to rethink weightings
UNITED STATES - The Alaska Permanent Fund Corporation has increased its targeted allocation to real estate from 10% to 13%, to help cope with the impact of the financial markets crisis on its portfolio.
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IPD unveils its first US property index
GLOBAL - IPD, the provider of real estate performance analysis and benchmarking, had added US coverage to its range of country coverage with the launch of its first annual commercial real estate index and quarterly indicator for the United States.
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US recovery to be a slow haul - ING
UNITED STATES - ING Clarion Partners has predicted there will be no quick recovery of the US real estate markets.
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News
Texas Employees signs real estate consultant
UNITED STATES - Texas Employees Retirement System has selected RV Kuhns & Associates as its first ever real estate consultant.
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SanFran CC to spend in real estate
UNITED STATES - San Francisco City and County Employees’ Retirement System is planning to invest capital in public REITs and the non-core sector of its real estate portfolio over the next year.
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MagazineScarred for life?
US REITs have taken a battering. With historically low share prices, do they represent a rare buying opportunity or are their problems permanent? Stephanie Schwartz-Driver reports
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MagazineSpeaking a common language
The adoption of IFRS in the US will have significant ramifications for the way investors evaluate their opportunities, says Robert O’Brien
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MagazineImporting a recession
Mexico’s dependency on the US makes it vulnerable to a US-led recession while Brazil can fall back on a strong internal market. Yet both countries will benefit from a growing middle class with money to spend. Stephanie Schwartz-Driver looks at the opportunities this will create
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News
Texas Teachers to revisit core strategy
UNITED STATES - Teacher Retirement System of Texas is planning to invest approximately $500m (€368.2m) in core strategy real estate over the next 12 months.
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Magazine
No going back
The message from the PREA spring conference is that while recovery is on the horizon, progress will be slow and painful. Although real estate will retain its central role in investment, there will be a return to fundamentals. Stephanie Schwartz-Driver reports
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News
Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (€720.6m).
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News
NYSTRS extends its real estate limits
UNITED STATES - New York State Teachers Retirement System has bought a further share in a real estate backed by a European pension fund, as well as extending current management contracts.
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Wisconsin extends commitments
UNITED STATES - Wisconsin State Investment Board has made two follow-on commitments to commingled funds, in a bid to preserve capital during the market downturn.
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Texas School Fund allocates to real estate
UNITED STATES - The Texas Permanent School Fund has established a 6% targeted allocation to real estate, making this its foray into the asset class.
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News
Texas Teachers to invest $475m in LLPs
UNITED STATES - Teacher Retirement System of Texas is in the process of setting up two limited partnership funds with assets of $475m (€358.1m) which could make it the only pension fund investor.
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News
LA Fire and Police burns Adelante deal
UNITED STATES - Los Angeles Fire and Police Pensions has ended its relationship with Adelante Capital Management as a REIT manager after the firm massively underperformed its benchmark.
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News
OMERS tracks long-term gains with railway top-up
CANADA – Ontario Municipal Employees Retirement System (OMERS) has increased its stake in a rail infrastructure project in Detroit, to become the majority owner.
