All Real Assets articles in December 2007 (Online)
View all stories from this issue.
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NewsCalPERS ups real estate allocation by 2%
UNITED STATES - The California Public Employees’ Retirement System (CalPERS) has increased its allocation to real estate by 2%, to provide around $4bn (€2.88bn) of extra investment into the sector.
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NewsPGGM and PSP firm go for gas
CANADA/NETHERLANDS - Dutch pension fund PGGM and the Canadian Public Sector Pension Investment Board (PSP) are major shareholders in a recently-formed infrastructure vehicle which has acquired Natural Gas Pipeline Company of America (NGPL) for $6.5bn (€4.5bn).
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NewsPension funds see potential in credit turmoil
GLOBAL - Funds that can benefit from the turmoil and dislocation rising from the credit crunch will attract institution capital in 2008, say industry experts.
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NewsStudent firm offloads assets worth €307m
UK - Unite, the UK student accommodation firm 4.5% owned by Dutch civil service scheme ABP, last week sold £220.3m (€308m) of assets to the UK Student Accommodation Fund (USAF), in a move designed to fund its growth.
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NewsProtego blames media panic for halted redemptions
EUROPE – Protego has become the latest real estate investment house forced to suspend redemptions last week, placing a one-year moratorium on investors pulling out of its UK property fund.
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NewsUK market ‘will pick up by spring’
UK - Disagreement has emerged between real estate investment houses over the timing of the UK property market recovery.
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NewsPFA leaps allocation to tap infrastructure growth
DENMARK – The huge Danish PFA corporate pension fund has boosted its infrastructure investment and plans to move even further into the asset class next year, probably including direct investments in the sector for the first time.
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NewsMass PRIM hires global REIT managers
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has selected European Investors and RREEF manage global REIT mandates with initial investment of $100m (€68.9m).
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NewsOregon PERF investment sees new forays
UNITED STATES - Oregon Public Employees Retirement Fund has agreed to invest $150m (€102.6m) into commingled funds focused on Asia and urban strategies.
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NewsCalSTRS and Waterson seek apartment viewings
UNITED STATES - California State Teachers Retirement System and Waterton Associates have created a new apartment investment fund, to tap into what they anticipate will be a shift in the sector.
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NewsIllinois Teachers allocates office space
UNITED STATES - Teacher Retirement System of the State of Illinois has approved two real estate investments totaling $187.5m (€127.4m) which contribute to the acquisition of office space.
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NewsCourtland arrival firms West Coast division
UNITED STATES - Courtland Partners has hired Lou Canlas as a principal to boost its pension fund real estate consulting operations on the West Coast.
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NewsEnfield mulls real estate update
UK – Concerns about the performance of the UK and European property markets mean the London Borough of Enfield is now looking closely at whether to further diversify its pension fund’s real estate allocation.
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NewsConcerns raised as returns drive pensions diversity
GLOBAL - The argument for global diversification is becoming more compelling, but institutional investors are often simply investing according to total return expectations, say industry experts.
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NewsPhilips scheme dismantles real estate portfolio
NETHERLANDS – The besieged €14.6bn pension scheme of Dutch electronics major Philips has sold around 15% of its real estate holdings to Dutch real estate investment fund Vesteda.
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NewsNAEV to cut direct real estate
GERMANY – The €8.5bn doctors’ fund Nordrheinische Ärzteversorgung (NAEV) will cut its direct real estate holdings in Germany in an overhaul of its property investments.
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NewsSpikker leaves PGGM for ABP
NETHERLANDS - PGGM’s Hans Spikker is to join ABP at the end of 2007 as manager of its non-listed European real estate portfolio.
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NewsHenderson names first German client relationship team
GERMANY – Sylvia Seeger has been named as the first German-language client relationship manager at Henderson’s German operations in Frankfurt.
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NewsATP to increase property allocation against inflation
DENMARK - ATP, the DKK438bn (€59bn) Danish Labour Market Supplementary pension fund, is to increase its property and infrastructure allocation to half of its inflation-protected portfolio.
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NewsCEE ‘more stable than Europe elsewhere’
EUROPE - Central and Eastern Europe is not immune from the effects of the global credit crisis according to Eurohypo, despite claims the region is insulated from global shocks.
