All Investment Vehicles articles – Page 281
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Big fish seek smaller ponds
GLOBAL - Large institutional investors are looking to invest with smaller, more intimate groups of ‘like-minded’ investors, according to pension fund-related investors, as concerns have arisen about commingled funds with large, often anonymous, investor bases.
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Sustainability catches eye of pension funds
UNITED STATES - The Bond Companies has pending investments from two pension funds for its sustainability fund as the Los Angeles Department of Water and Power Pension Fund and the Teacher Retirement System for the State of Illinois have both allocated $20m (€15.3m).
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Diversity widened performance of non-listed funds
EUROPE - Differences in geography and leverage levels, as well as currency movements, meant European non-listed real estate funds experienced a wide range of performance levels in 2008, according to International Property Databank (IPD).
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Illinois State Universities to build infrastructure
UNITED STATES – The State Universities Retirement System of Illinois has issued its first Request for Proposal (RFP) for infrastructure managers.
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INREV uncovers worries over LTV covenants
EUROPE – Many institutional investors are concerned that their non-listed real estate funds may breach loan-to-value (LTV) covenants, but they are often reluctant to inject fresh equity into vehicles, according to an INREV survey.
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Texas School Fund allocates to real estate
UNITED STATES - The Texas Permanent School Fund has established a 6% targeted allocation to real estate, making this its foray into the asset class.
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Texas Teachers to invest $475m in LLPs
UNITED STATES - Teacher Retirement System of Texas is in the process of setting up two limited partnership funds with assets of $475m (€358.1m) which could make it the only pension fund investor.
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Maine adds to infrastructure portfolio
UNITED STATES - Maine Public Employees Retirement System is now moving ahead with plans to hold up to 5% of its assets infrastructure, and has made a further investment which could eventually lead the fund to invest up to $400m (€301.8m) in the asset class.
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LA Fire and Police burns Adelante deal
UNITED STATES - Los Angeles Fire and Police Pensions has ended its relationship with Adelante Capital Management as a REIT manager after the firm massively underperformed its benchmark.
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Pension funds under pressure to get involved
GLOBAL - Institutional investors are coming under pressure to become more actively involved in the management of their commingled real estate funds as managers struggle with the effects of the downturn.
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PERE funds struggle to close
GLOBAL – Private equity real estate funds are finding it tough to reaching closing fund-raising positions and almost as many as last year have already abandoned the task, according to research conducted by Preqin.
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ING narrows focus in 'back to basics' shift
GLOBAL – ING, the Netherlands-headquartered banking and insurance group, is forming a single global investment management business and consolidating its operations to in future focus on retail banking and the retirement market.
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Swiss pension funds buy Schroders lease
SWITZERLAND/UK – AFIAA, the Swiss real estate investment adviser for state pension funds, has purchased the long leasehold on Schroders’ London headquarters for £70m (€76.5m).
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Pension funds pursue Gatwick purchase
UK – Major Canadian and British funds are understood to be one step closer in their rivalry to purchase London’s Gatwick airport after the Competition Commission ordered the British Airports Authority (BAA) to sell three of its airports within the next two years.
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SWFs still stand strong in real estate market
GLOBAL – Sovereign wealth funds’ (SWFs) collective assets have continued to grow to a staggering $3.22trn (€2.4trn) despite the economic downturn and are still major investors in real estate, according to the 2009 Preqin sovereign wealth fund review.
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Fresno County adds to real estate portfolio
UNITED STATES - Fresno County Employees Retirement Association has expanded its real estate portfolio by investing in the Colony Investors IX value-added and the Buchanan Fund VI opportunistic funds.
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CPPIB seeks new route along infrastructure
CANADA – The Canada Pension Plan Investment Board (CPPIB) has offered to pay C$1.16bn (€697m) to buy Macquarie Communications Infrastructure Group (MCG).
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Pensions investors enticed by Catalyst opportunities
EUROPE – Catalyst Capital LLP, a European investment and asset management firm, has secured the support of major institutional investors for its €228.5m pan-European property fund.
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CPP to invest in real estate through bonds issuance
CANADA - The Canada Pension Plan Investment (CPPIB) Board is planning to issue up to C$5bn (€3bn) in fixed income paper over the next two years to help the pension fund invest in real estate and infrastructure.
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Dallas Police & Fire strengthen infrastructure
US –The Dallas Police and Fire Pension System has invested in a $4bn (€3.01bn) state of the art highway infrastructure system in Dallas, bolstering domestic investments.
