Capital Raising News – Page 183
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Schroder sees a future in ‘blind funds’
UK – Blind funds are likely to attract institutional investors entering the property market, according to William Hill, head of property at Schroders.
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T.Rowe Price turns attention to globe real estate
US/GLOBAL – US-based asset manager T. Rowe Price is launching a global real Estate strategy in a bid to expand its global investment opportunities.
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New Star loses shine with real estate investors
UK – The £673m (€811m) New Star International Property fund has been forced to temporarily suspended dealings following an increase in redemptions from institutional clients.
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Oregon to follow on Guggenheim fund
UNITED STATES - Oregon Public Employees Retirement Fund has approved a $100m (€78.6m) commitment into the Guggenheim Fund II(a),which follows a fund launched in 2006.
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Ohio School Employees to redeem real estate assets
UNITED STATES - School Employees Retirement System of Ohio is in the process of issuing redemption queues on the RREEF America REIT II and BlackRock Strategic Apartment funds.
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Oregon to follow on Guggenheim fund
UNITED STATES - Oregon Public Employees Retirement Fund has approved a $100m (€78.6m) commitment into the Guggenheim Fund II(a),which follows a fund launched in 2006.
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Property sector finally unveiled for UK unlisted market
UK – The Investment Management Association (IMA), trade body to the £3.4trn (€3.99trn) UK fund management industry, and its Performance Category Review Committee (PCRC) have created a new property sector.
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Orion ready for European bargains
Europe – Orion Capital Managers has raised €900m of capital for its latest opportunistic property fund which will aim to buy bargain real estate across Europe.
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German funds hit hardest by institutional outflows
GERMANY – Recent redemptions from German open-ended funds (GOEFs) were “mainly driven by institutional investors rather than retail investors,” according to a senior analyst for CB Richard Ellis.
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LaSalle launches UK opportunity fund
UK – LaSalle Investment Management is raising a £400m (€487m) opportunity fund to take advantage of declining property values and potential distress in the UK real estate market.
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Foreign investors get smaller piece of the pie
CHINA – Domestic investors took an increasing larger share of the real estate investment market in China in the first half of the year, a report by property consultants DTZ shows.
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NYSTRS invests in warehousing and debt
UNITED STATES – New York State Teachers’ Retirement System (NYSTRS) has added to its real estate portfolio by investing in an industrial commingled fund and by making several investments in debt real estate.
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More flexibility or Spanish REITs will flounder – Testa
SPAIN – The Spanish government’s drafted legislation for real estate investment trusts (REITs) must be made more flexible in order to encourage the sector to develop, delegates heard at the latest Urban Land Institute (ULI) conference.
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Crisis of confidence for UK property
UK – Confidence has collapsed across the UK real estate sector according to Smith & Williamson’s latest annual survey.
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Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from Clerestory Capital Partners.
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Axa REIM shifts into distressed debt
EUROPE – Axa REIM, the real estate arm of Axa Investment Managers Group, is holding back from investing in European markets because it predicts property prices will drop even further and will concentrate on buying distressed debt.
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Illinois Teachers reviews five-year strategy
UNITED STATES - Teacher Retirement System for the State of Illinois is looking at making several changes to its real estate strategy as part of its five-year plan for real estate.
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Opposing markets halt TKP’s real estate gains
NETHERLANDS – TKP Pensioen has revealed the financial crisis has brought the performance growth of its real estate investments to a standstill.
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Private equity market is still a target - Preqin
US - Private equity real estate markets continues to attract long-term investors despite the financial crisis, according to the Preqin 2008 Private Equity Real Estate Review.
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Apollo to tap distress calls
US - Apollo Real Estate Advisors is hoping to take advantage of the turbulent market conditions to seize opportunities in distressed debt funds for the benefit of pension funds, but buying debt funds at discounted prices from banks.
