Capital Raising News – Page 190
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Retail booms despite ‘weak’ Russian reputation
RUSSIA - Consumer spending power is driving resurgent growth in Russian retail real estate, according to Swedish fund manager East Capital following the launch of a retail property fund.
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Stay out of politics, OECD tells SWFs
GLOBAL - The OECD has apparently softened its stance on sovereign wealth funds (SWFs), welcoming their “constructive contribution” to economic development and lauding them as “a force for global financial stability”.
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State of Wisconsin makes hotel reservations
UNITED STATES - Wisconsin State Investment Board is planning to invest into hotels for the first time.
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Ohio PERS sees value of European capital
UNITED STATES - Ohio Public Employees Retirement System (PERS) has made $75m (€48.3m) commitments to Carlyle Europe Realty Partners III and Blackstone Real Estate Partners Europe Fund III.
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LACERA moves $50m into pan-Asia fund
UNITED STATES - Los Angeles County Employees Retirement Association had added to its international real estate exposure by committing $50m (€32.2m) to the ING Real Estate Asia Value Fund.
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Ohio Police & Fire commits to high return fund
UNITED STATES - Ohio Police & Fire Pension Fund is continuing its high return commingled fund investing strategy by making a $25m (€16.2m) commitment to the Walton Street Real Estate Fund VI.
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Smaller funds need to be more active - NAEV
EUROPE – Smaller pension funds may need to be more active in their handling of real estate assets than larger pension funds, suggests evidence presented at the recent IPE Real Estate Forum.
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Dutch transport funds team up to buy real estate
NETHERLANDS – The €12bn Dutch railway pension fund (SPF) and the €2bn public transport pension fund (SPOV) have, together with Generali Real Estate, bought an €80m Dutch shopping centre project.
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Morgan Stanley to invest $4bn in infrastructure
UNITED STATES - Morgan Stanley has raised two-thirds more than originally intended for its global commingled fund, known as Morgan Stanley Infrastructure Partners, as investor demand created fund flows worth a total $4bn (€2.56bn).
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Finnish fund in quest for UK real estate
FINLAND – A Finnish pension fund is looking for managers for a £150m (€189.5m) UK real estate mandate, using IPE Quest.
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JPMorgan raises $600m for China fund
UNITED STATES - JPMorgan Asset Management raised in excess of $600m (€380.6m) for its latest commingled fund, the JPMorgan Greater China Property Fund.
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Illinois Municipal sees value in adding funds
UNITED STATES - Illinois Municipal Retirement Fund is moving $150m (€95.1m) of assets into value-added commingled funds.
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Europeans escape US in Asia
ASIA - Pension funds are increasing their exposure to Asian property in a bid to escape the US-led economic downturn.
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New York Common looks at urban space
UNITED STATES - New York Common Retirement Fund has made a $285m (€182.1m) commitment to the JP Morgan Star Lake Fund I, which invests in urban real estate across the major US metropolitan markets.
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Louisiana Teachers places $125m in “real assets”
UNITED STATES- Teachers’ Retirement System of Louisiana has placed $125m (€80.2m) into new real estate investments, as part of its unique view of real estate investing.
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Los Angeles City eyes €200m for real estate value
UNITED STATES - Los Angeles City Employees’ Retirement System has decided to allocate $200m (€127m) to $220m into real estate as part of its real estate annual plan for 2008.
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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Outgoing Clwyd adviser rewarded for real estate success
EUROPE – Clwyd pension fund’s independent adviser is leaving his role on a high note next month as the Welsh local authority fund was crowned the king of IPE Real Estate’s Awards in Berlin yesterday, winning four awards including Best European Institutional Investor.
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LGPI allocates €75m to Asian property
FINLAND – The Finnish Local Government Pensions Institution (LGPI)has invested $75m (€48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
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Investors demand 'co-investment' as standard
GLOBAL - Pension funds want fund managers to take a long-term stake in their own funds as a sign of confidence in their own products, according to Will Rowson, chief investment officer at ING Real Estate.
