Capital Raising News – Page 166
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News
MGPA's opportunity fund targets €200m of German retail
GERMANY – MGPA's European opportunistic real estate fund has acquired 140 ALDI SÜD stores in Germany as it seeks to deploy close to €200m of capital in the country's retail sector over the next six months.
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Portfolio deals on the rise as ING sells Canadian industrial fund
GLOBAL – Alberta Investment Management Corporation (AIMCo), which manages more than CA$70bn (€51.6bn) for Alberta pension schemes, is to acquire a 50% stake in the CA$2bn ING Summit Fund.
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Oklahoma Teachers selects three core managers
GLOBAL – The Teacher Retirement System of Oklahoma has hired AEW Capital Management, Heitman and L&B Realty Advisors as its open-ended, core commingled fund managers.
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Orange County ends separate account relationship with American Realty
GLOBAL – The Orange County Employees Retirement System has decided to end its separate account relationship with American Realty Advisors.
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Malaysian pension fund allocates €1.2bn to UK property
GLOBAL – Malaysia's first-pillar pension scheme has allocated £1bn (€1.2bn) to UK real estate in expectation of a long-term annual yield of 6-7%.
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RREEF: Seoul 'safer than London'
GLOBAL – Investors will take refuge in Asian markets from "considerably riskier" developed markets such as London, according to RREEF Germany managing director Clemens Schaefer.
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Dutch manager PGGM moves into US retail amid rising residential prices
NETHERLANDS – PGGM is to expand its focus from US housing to retail, citing growing demand for residential and supply scarcity.
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Merseyside pension scheme tenders for property asset manager
UK – The £4.2bn Merseyside Pension Fund (MPF) is tendering the position of property asset manager for its UK-based direct real estate investments.
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Åström, Otterud join forces to found Custor Capital
GLOBAL – Real estate fund-of-funds pioneers Anders Åström and Tomas Otterud have teamed up with former AP1 CIO Bo Ljunglöf to establish an independent investment firm targeting institutional investors.
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CPPIB, Future Fund recapitalise Australian shopping centre fund
GLOBAL – Canada Pension Plan Investment Board (CPPIB) and Australia's Future Fund have helped recapitalise a flagship Australia shopping centre fund by agreeing to invest A$750m (€524m) between them.
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LACERA earmarks $350m for real estate investment
GLOBAL – The Los Angeles County Employees Retirement Association (LACERA) has approved its real estate investment plan for the 2010-11 fiscal year, provisionally earmarking $350m (€277m) for investment.
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Nebraska puts $63m into core commingled funds
GLOBAL – The Nebraska Investment Council (NIC) has approved $63m (€49.6m) worth of real estate commitments into core open-ended commingled funds.
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Medicx fund highlights growing investor interest in healthcare
UK – A healthcare fund run by specialist investor and developer Medicx has raised £45m (€55.1m) in capital from a number of institutional investors, the National Grid UK Pension Scheme, the Merseyside Pension Fund, Henderson Global Investors and Prudential.
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Pramerica to take on UBS ground lease fund
UK – Pramerica Real Estate Investors will take over from UBS Global Asset Management as investment adviser for the UBS Secure Income Property fund.
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Louisiana Teachers to invest as much as $150m in real estate
GLOBAL – The Teachers’ Retirement System of Louisiana is planning on making $100m-150m (€78m-116m)) worth of commitments to opportunity funds in real estate over the next 12 months.
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NYSTRS makes $50m allocation to Cornerstone fund
GLOBAL – The $72.5bn (€52bn) New York State Teachers’ Retirement System (NYSTRS) has approved a $50m commitment to the Cornerstone Patriot Fund, a commingled fund managed by Cornerstone Real Estate Advisers.
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LaSalle KAG to tap mid-sized pension funds
GERMANY – The new German capital investment fund (KAG) announced by LaSalle Investment Management last week will tap small and medium-sized pension schemes struggling to adapt to globalisation.
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Illinois Teachers allocates $323m of new capital to real estate managers
GLOBAL - The Teachers’ Retirement System of the State of Illinois has awarded new allocations totaling $322.6m ($243.5m euros) to its four existing fund managers.
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Standard Life Investments makes pair of direct buys in Brazil
GLOBAL – Standard Life Investments (SLI) has built up its global fund's exposure to the Brazilian office sector with two direct acquisitions.
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Luxembourg Fund Partners to launch high-tech fund for CEE region
EUROPE – Luxembourg Fund Partners is set to launch a fund focusing on high-tech real estate in central and eastern Europe (CEE).
