All articles by Jon Peterson – Page 19

  • News

    Texas Teachers to target core US real estate through Lionstone

    2010-05-20T17:29:00Z

    UNITED STATES – Teacher Retirement System of Texas has formed Lionstone Cash Flow Real Estate Partners One, a fund managed by Houston-based The Lionstone Group.

  • News

    Canada Pension Plan steps up global spending spree

    2010-05-20T17:13:00Z

    GLOBAL – Canada Pension Plan Investment Board (CPPIB) has made its first ever investment in Manhattan through a joint venture with SL Green Realty Corporation, and established an Australian real estate development fund with Goodman Group.

  • News

    Oregon signs up to Vornado value-add club fund

    2010-05-17T17:00:00Z

    UNITED STATES – Oregon Public Employees Retirement Fund has approved a $100m (€78.7m) commitment to the Vornado Capital Partners investment fund.

  • News

    Illinois State doubles ING Clarion account

    2010-05-17T16:00:00Z

    UNITED STATES – Illinois State Board of Investment has allocated an extra $200m (€155m) to its existing separate account mandate with ING Clarion Partners as it seeks to increase its real estate exposure.

  • News

    CPPIB and Kimco join forces to hunt US retail

    2010-05-06T16:02:00Z

    AMERICAS – The Canada Pension Plan Investment Board (CPPIB) has acquired a $166.5m (€125.8m) interest in four US shopping centers through a joint venture with Kimco Realty Corporation.

  • News

    Maine PERS to ramp up real estate exposure in 2010

    2010-05-06T15:01:00Z

    UNITED STATES - Maine Public Employees Retirement System is planning to invest between $100m (€76.5m) and $200m in real estate in 2010.

  • News

    Mass PRIM rebuilds timber portfolio

    2010-04-29T15:05:00Z

    UNITED STATES - Massachusetts Pension Reserves Investment Management Board (Mass PRIM) is to invest a further $500m ($376m euros) in US timber after selling a $700m section of its portfolio approximately three years ago.

  • News

    San Antonio raises allocation and eyes new funds

    2010-04-29T15:00:00Z

    UNITED STATES - San Antonio Fire and Police Pension Fund has increased its strategic asset allocation to real estate by four percentage points, giving it $95m (€71.4m) in new spending power.

  • News

    Tennessee Consolidated nears real estate commingled holdings

    2010-04-22T14:30:00Z

    UNITED STATES - Tennessee Consolidated Retirement System is getting close to making new investments in two core open-ended commingled funds, in a bid to gain diversification into office and retail real estate.

  • News

    Texas Teachers seeks value in UK property

    2010-04-22T14:22:00Z

    UNITED STATES - Teacher Retirement System of Texas has agreed to invest approximately £81m (€93.7m) or $125m into the UK-focused Brockton Capital Fund II.

  • News

    Nebraska to tap discounted real estate secondary market

    2010-04-15T17:29:00Z

    UNITED STATES - Nebraska Investment Council has approved a $40m (€29.4m) investment into the Landmark Real Estate Partners VI commingled fund.

  • News

    Oklahoma Teachers to make core first play in real estate

    2010-04-15T17:27:00Z

    UNITED STATES - Teachers’ Retirement System of Oklahoma will make an investment in core open-ended commingled funds as its first ever move into real estate.

  • News

    Chicago Policemen eye non-core opportunities

    2010-04-09T13:41:00Z

    UNITED STATES – The Policemen’s Annuity and Benefit Fund of Chicago has issued a Request for Proposal for non-core real estate managers.

  • News

    Santa Barbara County opens separate account search

    2010-04-01T17:04:00Z

    UNITED STATES - Santa Barbara County Employees Retirement System has approved a Request for Information to hire a discretionary separate account real estate manager.

  • News

    Illinois State to boost real estate holdings by $300m

    2010-04-01T16:48:00Z

    UNITED STATES - Illinois State Board of Investment has approved plans to invest $300m (€223.1m) in real estate in 2010.

  • News

    CalPERS to invest $1.3bn in infrastructure in 2010

    2010-03-25T16:50:00Z

    UNITED STATES - California Public Employees Retirement System wants to invest as much as $1.3bn (€961.5bn) in infrastructure during 2010. The initial focus will be investments in the United States and Europe. The pension fund is planning to invest $400m in a direct investment strategy. Most other pension funds in the US invest in infrastructure through either commingled funds or separate accounts. According to CalPERS officials, the benefits of direct investment is greater control and more focused capital deployments, the avoidance of manager fees and progress towards its goal of being a leading infrastructure investor. The remaining $900m allocated to the sector for this year would be done though commingled funds on a global basis. CalPERS have established a benchmark return for infrastructure of CPI plus 4%. According to CalPERS officials, the rationale for infrastructure is mainly diversification using long-term income-based investments that aren’t correlated strongly with global equity, the investor’s largest asset class. CalPERS has made commitments to infrastructure totaling $1.1bn. Some $400m was committed to funds transferred from the pension fund’s investments in real estate and private equity. This was moved into the inflation-linked asset class, which includes infrastructure. A further $700m has been committed to commingled funds. One of these was a $200m allocation to the CIM Infrastructure Fund. By August of 2009, less than 10% of that amount had been drawn down. CalPERS has made allocations in three other commingled funds. These were $100m each to Carlyle Infrastructure Partner and Alinda Infrastructure Fund I and $300m to Alinda Infrastructure Fund II. The pension fund’s target allocation for infrastructure is 1.5% of total plan assets within a range of 0.5% to 3.

  • News

    Pennsylvania Public School increases allocation to real estate

    2010-03-25T16:42:00Z

    UNITED STATES - Pennsylvania Public School Employees’ Retirement System has decided to increase its targeted allocation for real estate from 8% to 10.5%. Most of the increase will be funded by the elimination of the pension fund’s 1.5% allocation to public REITs. Pennsylvania Public School ...

  • News

    CalPERS to invest $1.3bn in infrastructure in 2010

    2010-03-25T16:22:00Z

    UNITED STATES - California Public Employees Retirement System wants to invest as much as $1.3bn (€961.5bn) in infrastructure during 2010.

  • News

    Texas Teachers seeks growth in agriculture

    2010-03-18T17:32:00Z

    UNITED STATES - Teacher Retirement System has made its first ever investment in agriculture with a $250m (€145.9m) commitment into the AG Real Value Fund, managed by Teay’s River Investments.

  • News

    Arizona Public Safety takes opportunistic strategy in real estate

    2010-03-18T17:17:00Z

    UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.