Asia-Pacific – Page 132
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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LGPI allocates €75m to Asian property
FINLAND – The Finnish Local Government Pensions Institution (LGPI)has invested $75m (€48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
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Finnish VER to boost alternatives
FINLAND – The €11.53bn Finnish first pillar Valtion Eläkerahasto (VER) pension scheme, is planning to increase its exposure to alternative investments to 10%.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has approved $925m (€598.8m) into new real estate investments through a variety of non-core commingled funds.
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Aberdeen buys real estate rival Goodman for £109m
GLOBAL – Aberdeen Asset Management’s real estate subsidiary Aberdeen Property Investors has snapped up a deal to buy its rival Goodman Property Investors for £109m (€140m).
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Morgan Stanley brings $2.5bn to Special Sits III
UNITED STATES - Morgan Stanley Real Estate has attracted $2.5bn (€1.6bn euros) of institutional capital for the latest round of fund raising for Special Situations Fund III.
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Indiana PERF moves $150m into real estate
UNITED STATES - Indiana Public Employees Retirement Fund has approved commitments totaling $150m (€
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Venture with SWF shows debt still in the black
UK/MIDDLE EAST – An Abu Dhabi sovereign wealth fund (SWF) is to pump £200m (€250m) into London & Stamford via a seven-year joint venture aimed at building a war chest for UK acquisitions.
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Investor interest lifts non-core Rockpoint to $2.5bn
UNITED STATES - Rockpoint Group LLC has attracted $2.51bn (€1.58bn) of equity for its latest commingled fund, Rockpoint Real Estate fund III but says the sum could have been larger on the back of investor demand.
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NZ scotches CPPIB airport deal
NEW ZEALAND - Canada Pension Plan Investment Board (CPPIB)’s long-running attempts to acquire a stake in Auckland International Airport (AIAL) collapsed last week after the New Zealand government refused to approve its application under the Overseas Investment Act.
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INREV plans Asian expansion
EUROPE - The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to expand into unlisted Asian property.
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Pension funds are "comfortable" with global investment
GLOBAL - Pension funds are increasingly comfortable investing in overseas markets they see as subject to increasingly global standards of transparency, according to Standard Life Investments.
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Europe wins lion’s share of real estate inflows
EUROPE - Europe was the major target of global capital flows for real estate transactions in 2007, capturing 40% of the total $339bn (€215bn) in real estate transactions last year, according to data released by Real Capital Analytics (RCA).
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New Jersey commits to high return fund
UNITED STATES - New Jersey Division of Investment has approved a $100m (€64.1m) commitment to the Lehman Brothers Real Estate Partners III commingled fund.
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San Diego City expands its international focus
UNITED STATES - San Diego City Employees’ Retirement System is growing its international real estate investment program by investing in a commingled fund and moving its domestic REIT program to a global stage.
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Ohio Police & Fire invest $162m in real estate
UNITED STATES - Ohio Police & Fire pension fund has approved a real estate strategy to invest $162m (€103.8m) in the asset class for 2008.
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PREA delegates call the real estate recession
GLOBAL - It will take around 18 months for capital markets in commercial real estate to return to normal – that was the consensus among the more than 700 delegates attending the PREA Spring Conference in Boston last week.
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Asia gains local real estate education
ASIA - The Asian Public Real Estate Association (APREA), which represents the listed sector, has launched a certification programme for regional real estate investors.
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Chicago Teachers buys Asian exposure
UNITED STATES - Public School Teachers’ Pension and Retirement Fund of Chicago has extended its international real estate exposure by agreeing to allocate $40m (€25.7m) to the Merrill Lynch Asia real estate opportunity fund.
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MagazineAsia’s maturing potential
With only 4-5% of Asia’s investment grade stock held in REITs, the growth potential is enormous, not least due to a new alignment between the interests of foreign capital and regional developers. Michael Grimes reports
