All Investment Vehicles articles – Page 284
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North Carolina warns on real estate holdings
US – The North Carolina Retirement System lost $17bn (€12.8bn) in value in 2008 and is bracing itself for a steeper decline in real estate values, the Department of State Treasurer announced on Friday.
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Standard Life halts redemptions
UK – Standard Life, the UK insurance company, has delayed redemptions from six commercial property funds worth £2.7bn (€2.9bn) as a result of the slowdown in property transactions.
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Arkansas searches property management
US – The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (€107m) property portfolio.
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Economic freeze hits Alaska’s investments
US – The Alaska Permanent Fund Corporation’s (APFC’s) real estate portfolio performed better than other assets but has still contributed to the fund’s $4.2bn (€3.2bn) drop in value in the second quarter of fiscal year 2009.
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Progress to sell property for unlisted strategy
NETHERLANDS - The Dutch pension fund of food giant Unilever will sell its entire Dutch direct property portfolio, and switch its real estate investment strategy to unlisted international real estate funds.
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AIG puts real estate house on the market
US - AIG Global Real Estate has today announced the $12.4bn (€9.4bn) fund management business has been put up for sale, as part of the American International Group’s (AIG’s) divestment programme set out at the end of last year.
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Warburg-Henderson grows institutional client base
GERMANY – German real estate company Warburg-Henderson has launched a Master KAG subsidiary and already won its first client.
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Inflows see DEGI alter redemptions ban
GLOBAL – Deutsche Gesellschaft für Immobilienfonds mbH (DEGI), the German-based property investors, has announced it will end the suspension of redemptions from its DEGI International Fund at the end of this month following new capital inflows into the fund.
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LACERA changes real estate benchmark
UNITED STATES - Los Angeles County Employees Retirement Association has approved a new returns benchmark for investing in real estate.
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Teesside hires LVAM to manage real estate
UK – The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has appointed LV Asset Management (LVAM) to manage the pension fund’s direct UK commercial property portfolio.
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Morgan Stanley reopens revised infrastructure pool
UNITED STATES – Morgan Stanley Investment Management (MSIM) has re-opened its Morgan Stanley Global Infrastructure Fund 1 to new investors in the United States, in anticipation of growing investment opportunities across the globe.
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Land Securities warns of tenancy pressures
UK – Land Securities is retaining a “cautious outlook” of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Schroders to apply blind fund to Avon's strategy
UK – The £2bn (€2.12bn) Avon Pension Fund, administered by Bath and North East Somerset Council, has appointed Schroders to manage a £90m UK property multi-manager mandate.
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Capital calls face defaults and delays
A number of real estate fund investors are defaulting on capital calls or asking fund managers to delay them as they look to rebalance portfolios and generate liquidity.
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Purdon arrival to drive AREIT growth
MIDDLE EAST – AREIT Management Limited, manager of the Arabian Real Estate Investment Trust (AREIT), has appointed Chris Purdon as chief investment officer (CIO) as part of the firm’s plans to tap iopportunities in the Middle East region.
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San Bernardino to cash in real estate
UNITED STATES - San Bernardino County Employees Retirement Association has voted to issue redemption queues in three open-ended commingled funds amounting to $106m (€80.3m).
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Activity sees IVG buy German retail from AEW
Europe – AEW Europe’s pan-European fund has sold its prime retail asset in Hamburg for €94m, proving the German real estate market is still showing signs of activity despite the credit crunch.
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Wisconsin extends commingled fund relations
UNITED STATES - Wisconsin State Investment Board has approved two new commitments worth €42m with existing commingled fund managers.
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More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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Land Securities sells Trillium
UK – Land Securities Group, the UK’s largest real estate investment trust (REIT), announced today it has agreed the sale of Trillium to Telereal, a property investment company, for £750m (€832m).
