All Investment Vehicles articles – Page 287
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Orion ready for European bargains
Europe – Orion Capital Managers has raised €900m of capital for its latest opportunistic property fund which will aim to buy bargain real estate across Europe.
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German funds hit hardest by institutional outflows
GERMANY – Recent redemptions from German open-ended funds (GOEFs) were “mainly driven by institutional investors rather than retail investors,” according to a senior analyst for CB Richard Ellis.
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LaSalle launches UK opportunity fund
UK – LaSalle Investment Management is raising a £400m (€487m) opportunity fund to take advantage of declining property values and potential distress in the UK real estate market.
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Foreign investors get smaller piece of the pie
CHINA – Domestic investors took an increasing larger share of the real estate investment market in China in the first half of the year, a report by property consultants DTZ shows.
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NYSTRS invests in warehousing and debt
UNITED STATES – New York State Teachers’ Retirement System (NYSTRS) has added to its real estate portfolio by investing in an industrial commingled fund and by making several investments in debt real estate.
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More flexibility or Spanish REITs will flounder – Testa
SPAIN – The Spanish government’s drafted legislation for real estate investment trusts (REITs) must be made more flexible in order to encourage the sector to develop, delegates heard at the latest Urban Land Institute (ULI) conference.
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Crisis of confidence for UK property
UK – Confidence has collapsed across the UK real estate sector according to Smith & Williamson’s latest annual survey.
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Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from Clerestory Capital Partners.
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Axa REIM shifts into distressed debt
EUROPE – Axa REIM, the real estate arm of Axa Investment Managers Group, is holding back from investing in European markets because it predicts property prices will drop even further and will concentrate on buying distressed debt.
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Illinois Teachers reviews five-year strategy
UNITED STATES - Teacher Retirement System for the State of Illinois is looking at making several changes to its real estate strategy as part of its five-year plan for real estate.
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Opposing markets halt TKP’s real estate gains
NETHERLANDS – TKP Pensioen has revealed the financial crisis has brought the performance growth of its real estate investments to a standstill.
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Private equity market is still a target - Preqin
US - Private equity real estate markets continues to attract long-term investors despite the financial crisis, according to the Preqin 2008 Private Equity Real Estate Review.
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Apollo to tap distress calls
US - Apollo Real Estate Advisors is hoping to take advantage of the turbulent market conditions to seize opportunities in distressed debt funds for the benefit of pension funds, but buying debt funds at discounted prices from banks.
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CPPIB invests fresh CA$1.4bn in real estate
CANADA – The Canada Pension Plan Investment Board has expanded its real estate portfolio with $1.4bn worth of new investments, bringing the fund’s total real estate commitments to $8.4bn.
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Avon signs Partners to work on global property
UK - Partners Group, the Swiss-based global alternative asset manager with over CHF25bn (€16.8bn) in assets under management, has been chosen to manage Avon Pension Fund’s overseas real estate portfolio.
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Texas Teachers commits €200m to Europe
UNITED STATES - Teacher Retirement System of Texas has approved a €200m commitment to the Blackstone Real Estate Partners Europe III commingled fund.
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CalSTRS to stick with changing First Industrial
UNITED STATES - California State Teachers Retirement System anticipates its relationship with First Industrial Realty Trust will not be affected by a major change in the firm’s upper management.
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Sacramento County puts manager search on hold
UNITED STATES - Sacramento County Employees’ Retirement System has put plans to conduct a new manager search on hold until at least the first quarter of next year.
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CBRE trust widens into UK retail
UK - The CB Richard Ellis Realty Trust has expanded its property holdings outside of the United States after purchasing a second major UK retail park.
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Grosvenor to buy a ride on the Chinese dragon
ASIA/UK – Grosvenor, the London-based group of international property investment, development and fund management businesses, has launched a $600m (€468.7m) China retail fund.