All Investment Vehicles articles – Page 272
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Henderson re-opens pan-European fund
EUROPE – Henderson Global Investors will this week reopen its €405m institutional pan-European real estate fund of funds after 76% of investors agreed to revoke their redemptions.
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INREV index posts recovery figures: UK leads
EUROPE – European non-listed funds returned a negative -7.8% in 2009, compared with -19.8% the previous year, according to the INREV Index of 258 funds representing assets worth €132.7bn.
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ING REIM steps in to rescue Creed fund
ASIA – ING Real Estate Investment Management has taken over as general partner (GP) at an Asian real estate fund for the second time in 12 months.
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Non-listed real estate funds see capital raising fall by 60%
EUROPE – The volume of capital raised through European non-listed real estate funds fell by 60% in 2009, according to the European Association for Investors in Non-listed Real Estate (INREV).
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Tennessee Consolidated nears real estate commingled holdings
UNITED STATES - Tennessee Consolidated Retirement System is getting close to making new investments in two core open-ended commingled funds, in a bid to gain diversification into office and retail real estate.
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Texas Teachers seeks value in UK property
UNITED STATES - Teacher Retirement System of Texas has agreed to invest approximately £81m (€93.7m) or $125m into the UK-focused Brockton Capital Fund II.
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Ash cloud forces INREV to cancel Venice conference
EUROPE – INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has been forced to cancel its annual conference, which was scheduled to take place later this week.
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UK pension funds hit by Fitch downgrade to real estate debt
UK – MEPC, a specialist business park investment company wholly-owned by BT and Royal Mail pension funds, has had its debt financing downgraded by Fitch.
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BVK expects to tap opportunistic real estate growth
SWITZERLAND – Swiss pension fund BVK is confident that opportunistic fund managers it has committed capital to will soon begin to see more opportunities in the global real estate markets.
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Nebraska to tap discounted real estate secondary market
UNITED STATES - Nebraska Investment Council has approved a $40m (€29.4m) investment into the Landmark Real Estate Partners VI commingled fund.
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Airport project leaves IVG in the red
GERMANY – German real estate company IVG reported net losses for 2009 of €158m – almost all of which can be attributed to a project near the Frankfurt airport, an IVG-spokesman confirmed to IPE.
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Currency swing stifles positive return on institutional funds
EUROPE – Institutional European real estate funds on average delivered a negative euro-denominated return of -1.6% in 2009. But there was a huge variance of investment performance among funds over the 12-month period, according to Investment Property Databank (IPD).
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Investors to decide gearing on L&G’s property income
UK – European institutional investors that have committed to Legal & General Property’s (LGP) new UK core fund have been given a choice over the level of gearing they will be exposed to.
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Rothschild Realty sees fresh prospects for US housing
UNITED STATES - Rothschild Realty Managers has made a $100m (€74.9m) equity investment with Summit Housing Partners based in Montgomery, Alabama, on the back of renewed confidence in the housing market.
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Chicago Policemen eye non-core opportunities
UNITED STATES – The Policemen’s Annuity and Benefit Fund of Chicago has issued a Request for Proposal for non-core real estate managers.
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Royal Mail Pension ends 27-year run for real estate manager
UK – LaSalle Investment Management is to take over the management of the Royal Mail Pension Plan’s (RMPP) £1.6bn (€1.8bn) UK real estate portfolio, which has been run by Hermes since 1995 and under its previous incarnation PosTel since 1983.
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Ediston sees fresh activity after market downturn
UK – The Ediston Opportunity Fund, which raised capital from pension funds in 2007, has made a number of investments following more than two years of inactivity and is consulting investors on raising more capital.
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Norwegian pension fund snaps up new office
NORWAY – Akershus Fylkeskommunale Pensjonskasse (AFKP), a local authority pension fund for the employees of the municipality adjacent to the north and west of Oslo, has acquired a newly-developed office building in Drammen.
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Pennsylvania Public School increases allocation to real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has decided to increase its targeted allocation for real estate from 8% to 10.5%. Most of the increase will be funded by the elimination of the pension fund’s 1.5% allocation to public REITs. Pennsylvania Public School ...
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Value emerging in industrials - Hansteen
UK – European industrial real estate investment trust (REIT) Hansteen has purchased an industrial estate and is in due diligence on three others for its new UK fund backed by institutional investors.
