Capital Raising News – Page 178
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Camden to consider real estate increase
UK – The London Borough of Camden is considering the next stage of the restructure of its pension fund investment portfolio including a potential increase in property.
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ABFPT purchases retail park
UK – Wilky Fund Management has purchased Brook Retail Park in Clacton-on-Sea on behalf of the Associated British Foods Pension Trustees (ABFPT) for £11.5m (€13.2m).
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VER to increase RE allocation; targets UK
FINLAND - Valtion Eläkerahasto (VER), the State Pension Fund of Finland, is working to make its first commitment to a dedicated UK real estate fund as it looks to increase its overall property exposure.
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Illinois Teachers allocates money to cover debt issues
UNITED STATES - The Teachers Retirement System of the State of Illinois has become one of the first pension funds in the United States to allocate funds to a separate account manager to cover possible debt issues.
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Finnish pensions land airlines among property
FINLAND – Nordea Life Assurance Finland, Varma Mutual Pension Insurance and Valtion Eläkerahasto (VER) , the Finnish State Pension Fund, have invested in four airport properties in Finland through their NV Property Fund joint venture.
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CalSTRS eyes increase to real estate allocation
UNITED STATES - California State Teachers Retirement System is thinking of approving a new long-term allocation to real estate.
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Rockpoint checks in for US hotel purchase
UNITED STATES - The Rockpoint Group has completed its first acquisition in the United States in 18 months, with the $10m (€6.93m) deal to purchase the 434-room Newton Marriott Hotel in Massachusetts.
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III-Investments goes green on real estate
GERMANY – HypoVereinsbank subsidiary III-Investments has launched the first real estate spezialfond to invest exclusively in ‘green’ real estate assets.
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New Mexico moves into private real estate
UNITED STATES - New Mexico Educational Retirement Board is currently transiting out of public REITs and reinvesting the capital via a private real estate strategy.
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Sacramento County to hold onto AEW fund
UNITED STATES - Sacramento County Employees Retirement System has extended the investment period for its AEW Value Investors II holding.
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US pension giants lose big on real estate
EUROPE – Many of Europe’s cross-border investors returned to the real estate market in the second quarter, replacing domestic investors as the most dominant active group.
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Aviva to invest £1bn in UK rental housing
UK – Aviva Investors is intending to launch a real estate fund aimed at pension funds and institutional investors that will invest in UK residential assets.
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AIFM could bring less fund choice, claims law firm
EUROPE – A Paris-headquartered law firm has warned current proposals for the Alternative Investment Fund Managers (AIFM) Directive could lead to a lack of choice of funds in the future unless European officials can work with US and international counterparts to improve regulatory terms on alternative investments.
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Sarasin launches new green listed fund
GLOBAL – Sarasin has launched what it claims to be the world’s first fund to specialise in investing in sustainable real estate companies.
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Schroders calls for fund structure standardisation
GLOBAL - Greater standardisation of the way funds are structured could deliver significant savings for investors, suggests William Hill, head of property at Schroders.
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Ohio Police and Fire’s real estate keeps falling
UNITED STATES – The value of real estate portfolios for US pension funds is still declining as Ohio Police and Fire pension fund has revealed as its real estate assets dropped in value from $1.01bn (€713.9m euros) at the end of 2008 to $784m by the end of the first ...
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New York Common invests in UK underperformers
UNITED STATES - New York State Common Retirement Fund has made a $30m (€21.3m) commitment to the Mountgrange Real Estate Opportunity Fund I in a bid to further diversify into European real estate.
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London property attracts overseas interest
UK - Investment in London commercial property has risen for the first time since the second half of 2007, according to new figures from Cushman & Wakefield.
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Real estate dominates alternative assets in pensions
GLOBAL – Real estate investments still make up over half of the alternative assets managed by external managers on behalf of pension funds, and despite the economic downturn, suggests a study conducted by Watson Wyatt.
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Hercules receives backing from pensions giant
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has injected £100m (€118m) into the Hercules Unit Trust (HUT), a UK retail warehouse fund run by British Land and Schroders, which is in the process of restructuring its £800m debt facility.
