All Investment Vehicles articles – Page 278
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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.
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UK PFs in healthcare gain
UK – Several UK pension funds have gained exposure to a specialist real estate fund through the secondary market.
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APG urges PEPR to improve governance (updated)
NETHERLANDS – APG, the asset manager of ABP pension fund, has called on fellow shareholders in Prologis European Properties (PEPR) to block the company from raising new equity unless they are given the option to replace PEPR’s manager.
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Texas Employees plans major push to private real estate
UNITED STATES – The Employees Retirement System of Texas is preparing to make commitments to private real estate totalling $2.1bn (€1.5bn) over the next five years with almost half coming in 2010 and 2011.
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Ohio Police and Fire to allocate $260m over next several years
UNITED STATES- Ohio Police and Fire Pension Fund is to invest $260m (€183m) in real estate over the next three years, with $50m of that amount to be invested between now and the end of 2009.
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88% of pension funds very concerned about LTV issues
EUROPE – Most European institutional investors are worried that the non-listed real estate funds they are invested in are likely to breach loan covenants, according to a study by the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
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Real estate equities bear market over – Cohen & Steers
GLOBAL - “In contrast to the direct property market it is our strong view that real estate stocks have made their lows for this cycle and that the REIT bear market ended in March this year,” said Cohen and Steers co-chair and co-CEO Robert Steers.
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Camden to consider real estate increase
UK – The London Borough of Camden is considering the next stage of the restructure of its pension fund investment portfolio including a potential increase in property.
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ABFPT purchases retail park
UK – Wilky Fund Management has purchased Brook Retail Park in Clacton-on-Sea on behalf of the Associated British Foods Pension Trustees (ABFPT) for £11.5m (€13.2m).
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VER to increase RE allocation; targets UK
FINLAND - Valtion Eläkerahasto (VER), the State Pension Fund of Finland, is working to make its first commitment to a dedicated UK real estate fund as it looks to increase its overall property exposure.
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Illinois Teachers allocates money to cover debt issues
UNITED STATES - The Teachers Retirement System of the State of Illinois has become one of the first pension funds in the United States to allocate funds to a separate account manager to cover possible debt issues.
