Capital Raising News – Page 194
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LACERA earmarks $350m for real estate investment
GLOBAL – The Los Angeles County Employees Retirement Association (LACERA) has approved its real estate investment plan for the 2010-11 fiscal year, provisionally earmarking $350m (€277m) for investment.
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Nebraska puts $63m into core commingled funds
GLOBAL – The Nebraska Investment Council (NIC) has approved $63m (€49.6m) worth of real estate commitments into core open-ended commingled funds.
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Medicx fund highlights growing investor interest in healthcare
UK – A healthcare fund run by specialist investor and developer Medicx has raised £45m (€55.1m) in capital from a number of institutional investors, the National Grid UK Pension Scheme, the Merseyside Pension Fund, Henderson Global Investors and Prudential.
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Pramerica to take on UBS ground lease fund
UK – Pramerica Real Estate Investors will take over from UBS Global Asset Management as investment adviser for the UBS Secure Income Property fund.
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Louisiana Teachers to invest as much as $150m in real estate
GLOBAL – The Teachers’ Retirement System of Louisiana is planning on making $100m-150m (€78m-116m)) worth of commitments to opportunity funds in real estate over the next 12 months.
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NYSTRS makes $50m allocation to Cornerstone fund
GLOBAL – The $72.5bn (€52bn) New York State Teachers’ Retirement System (NYSTRS) has approved a $50m commitment to the Cornerstone Patriot Fund, a commingled fund managed by Cornerstone Real Estate Advisers.
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LaSalle KAG to tap mid-sized pension funds
GERMANY – The new German capital investment fund (KAG) announced by LaSalle Investment Management last week will tap small and medium-sized pension schemes struggling to adapt to globalisation.
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Illinois Teachers allocates $323m of new capital to real estate managers
GLOBAL - The Teachers’ Retirement System of the State of Illinois has awarded new allocations totaling $322.6m ($243.5m euros) to its four existing fund managers.
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Standard Life Investments makes pair of direct buys in Brazil
GLOBAL – Standard Life Investments (SLI) has built up its global fund's exposure to the Brazilian office sector with two direct acquisitions.
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Luxembourg Fund Partners to launch high-tech fund for CEE region
EUROPE – Luxembourg Fund Partners is set to launch a fund focusing on high-tech real estate in central and eastern Europe (CEE).
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Oregon scheme makes $100m commitment to pan-Asia fund
GLOBAL – The Oregon Public Employees Retirement Fund (PERF) has approved a $100m (€75.6m) commitment to the Angelo Gordon Pan Asia Real Estate Fund II.
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Henderson targets local interest with German retail fund
GERMANY – Henderson Global Investors is seeking to tap demand from German institutional investors for exposure to their domestic retail sector.
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Texas Teachers earmarks $1.1bn for real estate investment
GLOBAL – The Teacher Retirement System of Texas has approved $1.1bn (€849.5bn) worth of new commitments to real estate.
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Kansas PERS invests $30m in Harrison Street fund
GLOBAL – The Kansas Public Employees Retirement System has approved a $30m (€23.1m) commitment to the Harrison Street Real Estate Partners III commingled fund.
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Specialist funds outperforming market in UK, says IPD
UK – Pooled UK real estate funds have delivered returns of more than 20% over the past 12 months, but only those with specialist and niche strategies outperformed the underlying direct market, according to Investment Property Databank (IPD).
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Ohio School Employees to invest as much as $125m over next 12 months
GLOBAL – The School Employees Retirement System of Ohio is aiming to invest as much as $125m in real estate over the next 12 months.
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Rothschild makes first investment in New York office market
GLOBAL – Rothschild Realty Managers has made its first-ever investment in the New York office market with a $150m (€116m) investment in RXR Realty.
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Schroders backs Palmer's new Mayfair venture
UK – Schroder Property's multi-manager business has agreed to seed a new UK real estate fund managed by Mayfair Capital Investment Management.
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Pension funds get on board for Rockspring's UK value drive
UK – Rockspring Property Investment Managers has raised £336m (€409m) in capital commitments for its UK Value fund from 12 pension funds and institutional investors from Europe and Australasia.
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BPF Bouw opens Dutch portfolio to other pension funds
NETHERLANDS – BPF Bouw, the pension fund for Dutch construction workers, will offer other pension funds access to its €4bn domestic real estate portfolio so it can increase its weighting to global property markets.
