Capital Raising News – Page 185
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Invesco Real Estate backs hotels with second European fund
EUROPE – Invesco Real Estate has identified a €168m seed portfolio of hotels to help raise capital for its new pan-European hotel fund.
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GID takes over CalPERS apartment portfolio from BlackRock
GLOBAL – GID Investment Advisers has taken over the management of a core multi-family residential portfolio from BlackRock Realty Advisors on behalf of the $212bn (€152bn) California Public Employees' Retirement System (CalPERS).
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Institutional capital to desert German open-ended funds, says CBRE
GERMANY – Incoming regulations in Germany will see institutional capital leave open-ended funds and be reinvested in Spezialfonds, according to a report by CB Richard Ellis (CBRE).
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Hermes seeks to increase liquidity for BT Pension Fund
UK – Hermes Real Estate is to sell the BT Pension Scheme's interest in the Bluewater Shopping Centre as part of a wider rebalancing of the portfolio away from "less liquid" indirect and joint venture holdings in the UK.
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CalSTRS invests $370m into real estate during second quarter
GLOBAL – The California State Teachers Retirement System made $370m (€270m) worth of new real estate investments during the second quarter.
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PensionDanmark makes 'significant' expansion in real estate
DENMARK – Labour market fund PensionDanmark is expanding its portfolio of domestic real estate with a new DKK500mn (€67m) investment in Århus.
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Oregon Retirement Fund considers larger commitments, club funds
GLOBAL – The Oregon Public Employees Retirement Fund is exploring the possibility of making larger investments into either commingled funds or separate accounts.
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L&G annuities arm gets first real estate exposure
UK – Legal & General Pensions (LGPL) is to invest in UK real estate for the first time on behalf of its £23bn (€26.6bn) annuity business.
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BNP Paribas Real Estate takes over AEW Europe subsidiaries
EUROPE – BNP Paribas Real Estate Property Management has acquired the central European real estate management business of AEW Europe.
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Property derivatives fund backed by major fund managers
UK – The first pure property derivatives fund, offering cheap exposure to the UK real estate market index, has been launched with backing from a number of institutional real estate fund managers.
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Institutional investors back AEGON healthcare strategy
UK – AEGON Asset Management has secured two more institutional investors, through DTZ Investment Management, for its new healthcare real estate fund.
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Texas Teachers approves $500m investment in retail REIT
GLOBAL – The Teacher Retirement System of Texas has approved a $500m (€371m) investment into General Growth Properties (GGP).
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Wisconsin commits $75m to Mesa West debt fund
GLOBAL – The Wisconsin State Investment Board has made a $75m (€56m) commitment to the Mesa West Real Estate Income II commingled fund.
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Korea's National Pension Service goes global with $300m US mandate
GLOBAL – The National Pension Service (NPS) of Korea has hired The Townsend Group to invest $300m (€222m) of its capital opportunistically in the Americas.
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Large retails deals on the rise in Australia
AUSTRALIA – The sale of four retail outlet centres for $473m (€351m) has signalled a rebound in interest among institutional investors for large retail transactions in Australia, according to Jones Lang LaSalle (JLL).
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Former pension fund adviser to run 'liquid' global real estate fund
GLOBAL – Pacific Real Estate Capital Partners (PRECP) is to launch low-cost, liquid global real estate fund aimed at institutional investors "frustrated" with the performance of traditional property funds.
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Texas Teachers makes $300m commitment to US Government Building Fund
GLOBAL – The Teacher Retirement System of Texas has become the lead investor in the recently closed US Government Building Fund after Texas Teachers approved a $300m (€230.2m) allocation to the fund.
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San Diego County makes $200m commitment to core fund
GLOBAL – The San Diego County Employees Retirement Association (SDCERA) has approved a $200m (€152m) commitment into the JP Morgan Strategic Property fund.
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CalPERS continues Brazilian joint venture with Hines
GLOBAL – The $210bn (€158bn) California Public Employees Retirement System (CalPERS) has given its latest endorsement to Hines' Brazilian real estate expertise by committing to the third in a series of joint ventures in the South American market.
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Newham Pension Fund backs co-investment housing fund
UK – The London Borough of Newham Pension Fund is to invest in a new residential real estate fund run by Mill Group.
