All Investment Vehicles articles – Page 290
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Orange County considers opportunistic allocations
UNITED STATES - Orange County Employees Retirement System has approved a plan to explore the idea of creating a separate allocation for opportunistic or innovative investments.
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Pramerica sees capital waiting on the sidelines
UNITED STATES - Pramerica Real Estate Investors have found a huge sum of investible capital is currently sitting on the sidelines in the United States, as investors are unsure whether now is a good time to invest given market conditions.
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Lehman spins off real estate after $3.9bn loss
GLOBAL – Investment banking giant Lehman Bros is separating its commercial real estate business as a new listed entity and selling a majority stake in its investment management division after yet more writedowns generated a third-quarter net loss of $3.9bn (€2.76bn).
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Ohio Police and Fire dampens core strategy
UNITED STATES - Ohio Police and Fire Pension Fund has altered its 2008 real estate strategy and will now be investing in core real estate this year, as previously planned.
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SanFran City and County signs follow-on commitments
UNITED STATES - San Francisco City and County Employees’ Retirement System is extending its relationship with CapMark Financial Group by approving follow-on real estate commitments worth $62.5m (€43.2m).
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SEB to cash in on expanding Cologne office market
GERMANY - Frankfurt-based SEB Asset Management (SEB) has further expanded its German property holdings with the purchase of a major office building in Cologne which adds €75m to the group’s existing €132bn assets under management.
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ORG to support Indiana PERF
UNITED STATES- Indiana Public Employees Retirement Fund has selected ORG Portfolio Management as its first consultant dedicated to the real estate asset class.
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CalPERS taps call for debt liquidity
UNITED STATES - California Public Employees Retirement System has made a $200m (€135.4bn) commitment into a US Debt Fund investment run by JER Investors Trust, to take advantage of dislocation in the credit markets.
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Apollo creates AREFIN on new investor demand
UNITED STATES - Apollo Real Estate Advisors has attracted an additional $309m (€210.6m) for its commingled fund, Apollo Real Estate Finance Corp, and placed the new capital raising in a separate holding called AREFIN Co-Investment Corporation.
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Pennsylvania Public School invests $775m
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $775m (€526.4m) in four commingled funds, including a $400m chunk with Beacon Capital.
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Pramerica venture to invest in Manhattan skyline
UNITED STATES - Pramerica Real Estate Investors has formed a joint venture with L&L Holding Company to invest in New York City office buildings.
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Contra Costa County seeks moves into wider space
UNITED STATES - Contra Costa County Employees Retirement System is looking to make some big moves into the opportunity fund sector of real estate.
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San Francisco City and County turn to distressed debt
UNITED STATES - San Francisco City and County Employees’ Retirement System has made a €20m commitment into the Apollo European Principal Finance fund, to tap into the growing demand for distressed debt support.
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USS confirmed among Tesco store buyers
UK – The £28.5bn (€35.6bn) Universities’ Superannuation Scheme was today officially named as one of four buyers involved in the latest £605m sale and leaseback of UK stores owned by supermarket giant Tesco.
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Institutional inflows raise IVG assets to 2007 level
GERMANY – German real estate company IVG has refilled its assets under management basket after a slump in the first quarter of 2008, thanks to institutional interest in indirect real estate.
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Rate margins push SNS' property profits
NETHERLANDS - Bancassurer SNS Reaal has revealed SNS Property Finance’s profit rose by 15.9% to €51m in the first half of 2008 thanks largely to a higher interest rate margin.
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SEPUT acts to protect pension fund returns
GLOBAL – Schroders has warned investor redemptions in its Exempt Property Unit Trust (SEPUT) could be reduced by as much as 25% if institutional investors withdraw their assets during the current property market downturn.
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Sources confirm Tesco/USS real estate deal
UK – Sources have confirmed the £30bn (€38bn) Universities Superannuation Scheme (USS), the second-largest pension scheme in the UK, is set to purchase a number of UK supermarket chain Tesco’s largest stores.
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AEW breaks through Asia fund capital target
UNITED STATES - AEW Capital Management has topped the original capital-raising set on its first direct real estate Asian investment commingled fund, as pension funds and investors are keen to diversify into new markets.
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Revalued property drags ING figures down
NETHERLANDS - A revaluation of its Summit portfolio in Canada was the main contributor to an €180m after-tax loss for ING’s property investments in the second quarter of this year, the Dutch bancassurer has revealed
