Capital Raising News – Page 182
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Composition Capital looking to launch European fund of funds
Company in talks with investors about new fund, having fully invested existing European products.
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Bouwfonds REIM to launch second European parking fund
Parking Fund I is currently fully invested and has a projected return of more than 9%.
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Sveafastigheter reaches €300m target for Nordic fund
Real estate manager secures commitments from local, European and US investors.
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Michelin pension plan joins schemes in L&G property fund
Three corporate pension schemes invest €136m between them, bringing fund to €211m.
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German pension funds pool assets for real estate fund
Four schemes commission Warburg-Henderson to set up €300m pan-European property Spezialfonds.
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St Bride's launches office, industrial club funds in London
Start-up launched by former ING Real Estate head Robert Houston raises capital for two funds.
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AREA buys nine-property apartment portfolio in Texas
GLOBAL – AREA Property Partners has acquired a multi-family portfolio in Texas totaling nine properties and 2,589 units for an undisclosed sum.
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CBRE Investors' opportunity fund takes over Atlantic Station
GLOBAL – CB Richard Ellis Investors has acquired Atlantic Station in Atlanta, Georgia, from insurer AIG for its fifth US opportunity fund.
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Connecticut scheme seeks separate account manager
GLOBAL – The Connecticut Retirement Plans and Trust Funds issued a Request for Proposal (RFP) for a separate account real estate manager at its December 2010 board meeting.
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Kansas PERS makes $75m commitment to UBS Trumbull
GLOBAL – The Kansas Public Employees Retirement System has signed a contract to allocate $75m (€58.1m) to the UBS Trumbull Property fund, managed by UBS Realty Investors.
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CalPERS transfers National Office Partners portfolio to CommonWealth
GLOBAL – The California Public Employees Retirement System (CalPERS) has transferred its National Office Partners real estate portfolio from Hines to CommonWealth Partners.
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APG makes joint bid for ING's €1.9bn Australian property fund
NETHERLANDS – The €266bn Dutch asset manager APG is part of a syndicate bidding for a €1.9bn ING property fund.
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LACERA receives 28 responses to debt manager search
GLOBAL - Los Angeles County Employees Retirement Association has received 28 responses to its search for real estate debt managers.
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Less than a third of funds report TER, INREV finds
EUROPE – Less than a third of European non-listed real estate funds report total expense ratios (TER) to their investors, according to industry body INREV.
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CalPERS combines property, infrastructure and forestry in allocation overhaul
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) has placed real estate, infrastructure and forestry in a ‘real’ assets bucket as part of an overhaul of its asset allocation strategy.
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INREV: Positive capital growth returns to continental Europe
EUROPE – The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has measured positive capital growth across the continental European property markets for the first time since 2007.
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South Carolina Employees to establish real estate strategy
GLOBAL - South Carolina Retirement System is planning to establish its first formal real estate investment strategy.
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Morgan Stanley opportunity fund extends debt lifeline to hotel owner
EUROPE – A global opportunity fund run by Morgan Stanley Real Estate Investing has provided €150m in mezzanine financing to BRE/Hospitality Europe Holding, an owner of a European hotel portfolio.
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AREA Property Partners buys Chicago area hotels for $51m
GLOBAL – AREA Property Partners has closed on its first hotel purchases of the year with the acquisition of three Chicago area properties for $51m (€38.6m).
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Lend Lease provides PGGM with direct infrastructure exposure
EUROPE – Dutch pension fund asset manager PGGM has committed £220m (€262m) in capital to become the principal investor in a joint venture with Lend Lease targeting social infrastructure in the UK.
