All Investment Vehicles articles – Page 278
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IVG Immobilien to cast its net wider
GERMANY - German-based fund manager IVG Immobilien, which has €22.7bn of assets under management, is planning to broaden its client base.
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Varma acts on real estate regrowth
FINLAND – VR Pension Fund has re-entered the real estate market after a two-year absence, following the decision by a Finnish construction company to sell assets to local pension funds.
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Principal raises $214.4m for green fund
UNITED STATES - Principal Real Estate Investors has raised $214.4m (€144.6m) in equity commitments for its Green Property Fund.
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L&B Realty expands to Europe
UNITED STATES - L&B Realty Advisors is making its first venture into Europe with a partnership being formed with Mayfair Capital Investment Management.
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Urdang opens way to new debt strategy
UNITED STATES - Urdang Capital Management has taken a novel approach to building a new real estate debt strategy by hiring eight people from Capmark Investments, as the move means it will also act as a non-discretionary sub-adviser for two of Capmark’s commingled funds.
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Sovereign wealth funds hit by US property tax
GLOBAL - Sovereign wealth funds (SWFs) have been dealt “a significant blow” by changes to the US tax regime, according to Steve Renna, president of the National Association of Real Estate Investment Managers (NAREIM).
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INREV sees continued delays to fund terminations
EUROPE – Investors in unlisted real estate vehicles are more often than not opting to delay fund terminations due in the next two to three years.
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Sacramento County votes against fund extension
UNITED STATES – The Sacramento County Employees’ Retirement System has said it will not support proposals to extend the investment period of the Hines US Office Value Added Fund II commingled fund.
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GE pension fund caught up in real estate loan battle
FRANCE – Creditors of Paris office complex Coeur Défense may appeal a court ruling which forced them to extend a securitised €1.5bn loan to the property’s joint owners, one of which is a General Electric pension fund.
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SWIP re-enters European retail property
EUROPE – Scottish Widows Investment Partnership (SWIP) has signalled its intention to re-enter the continental European real estate market with the launch of retail fund run in partnership with Cushman & Wakefield Investors (CWI).
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Oregon tops up distressed debt real estate holdings
US – Oregon Public Employees Retirement Fund has demonstrated its ongoing commitment to Lone Star Funds by committing a further $400m (€273.6m) of capital to the distressed real estate debt specialist.
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San Bernardino County turns to European debt
UNITED STATES - San Bernardino County Employees Retirement Association is planning to invest a total of €60m (€41m) the Apollo European Principle Finance Fund, although at least $20m of those assets are being as co-investments to specific transactions.
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APG-led action forces ProLogis into talks
EUROPE – Prologis European Properties (PEPR) has postponed an extraordinary general meeting (EGM) following shareholder activism led by APG.
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RBS pension fund signs airspace tenants
UK – Standard Life Investments has let over 105,000 square feet of warehouse space in the South East of England on behalf of the pension fund of the Royal Bank of Scotland.
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UK pensions see fresh life in real estate
UK – More than half of UK pension funds are planning to increase their allocation to commercial real estate, despite the dramatic falls in values since 2007, according to research by investment manager Prupim and the Pensions Management Institute.
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Ohio PERS raises real estate allocation
UNITED STATES - Ohio Public Employees Retirement System has decided to increase its targeted allocation to real estate from 7% to 10%.
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Invesco eyes slush fund over real estate distributions
UNITED STATES - Invesco Real Estate may cease issuing quarterly distributions to investors in its Invesco Core Real Estate Fund during the third quarter, in favour of building additional cash reserves for the fund.
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Texan pension funds kickstart shift back into real estate
UNITED STATES - Texas Permanent School Fund is hoping to become a major player in real estate over the next four years and invest up $1bn (€686.7m), just as local rival Teacher Retirement System of Texas has appointed LaSalle Investment Management to run a special real estate vehicle specialising in ...
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SBZ completes investment outsourcing in tough market
NETHERLANDS – SBZ, the €2.3bn pension fund for health insurance employees, has completed the final stage of its outsourcing to Russell Investments and moved its indirect real estate holding to the asset manager, following a sale of its direct domestic holdings.
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CalSTRS in European move
UNITED STATES - California State Teachers Retirement System (CalSTRS) has made one new real estate investment and transferred one existing asset to a different manager during the second quarter of 2009.
