All articles by Jon Peterson – Page 21
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Wisconsin turns to real estate fund of funds
UNITED STATES - Wisconsin State Investment Board has made a $27.5m (€18.8m) investment in the Core Plus Real Estate Fund Q, which is structured by the pension fund as a convertible preferred equity investment.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
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LA Fire and Police raise concerns over real estate performance
UNITED STATES- Los Angeles Fire and Police Pensions has placed Heitman Capital, Sentinel Real Estate and Urdang Capital on watch after underperforming the pension fund’s benchmark.
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Texas Teachers moves into Pan-Asian real estate
UNITED STATES – The Teachers Retirement System of Texas has approved a $150m (€101.2m) into the Fudo Capital Fund II commingled fund, to gain exposure to the Asian real estate market.
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CalPERS signs to infrastructure with long-term view
UNITED STATES - California Public Employees Retirement System has made a commitment of $300m (€201m) to Alinda Capital Partners’s Infrastructure Fund II, even though the value of its earlier investments have yet to reach their original capital value.
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SanFran C&C switches CMBS managers
UNITED STATES - San Francisco City and County Employees’ Retirement System has fired Brookfield Investment Management as one of its high-yield commercial mortgage-backed security managers, and handed the account to its other existing high-yield CMBS manager, Pyramis Global Advisors.
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CalPERS endures fresh $4.2bn real estate hit
UNITED STATES – The California Public Employees Retirement System has revealed it suffered a $4.2bn (€2.82bn) loss on its real estate portfolio during the second quarter of 2009.
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NYSTRS extends separate account contracts
UNITED STATES - New York State Teachers Retirement System has agreed to extend the manager contracts with three separate account managers for a non-US REIT investment strategy.
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CalSTRS takes first step in real estate shift
UNITED STATES – California State Teachers Retirement System (CalSTRS) is in the process of making some changes to its real estate investment policy which could reduce its investment in core strategies, in favour of higher-returning investments.
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Orange County targets core and debt strategies
UNITED STATES - Orange County Employees Retirement System and its consultant, Callan Associates, have determined that core and distressed debt opportunities will offer the most compelling investment possibilities in the near future real estate market.
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SanFran City & County suffers fresh real estate drop
UNITED STATES - San Francisco City and County Employees Retirement System took another hit on its real estate portfolio in the first half of 2009, as the falling market continued to hurt investment returns and income.
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Mercer expands its real estate staff
UNITED STATES - Mercer Investment Consulting has expanded its US real estate team and hired Chad McWhorter as an associate.
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Texas Teachers moves into core investments
UNITED STATES - Teacher Retirement System of Texas has widened its investments in core real estate and hired three real estate managers to look after $800m (€532.7m).
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Illinois State funds to follow FoFs real estate path
UNITED STATES – The State Universities Retirement System of Illinois has allocated $75m (€50.1m) for a fund of funds investment strategy with Franklin Templeton Real Estate Advisors.
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NY Common adds $200m to affordable housing
UNITED STATES - The New York State Common Retirement Fund has made another $200m (€134m) investment with the Community Preservation Corporation to extend its existing relationship.
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GI Partners fund attracts fresh pension fund assets
UNITED STATES - GI Partners has raised $1.9bn (€1.3bn) for its latest commingled fund, GI Partners Fund III, through a mixture of both new and existing pension fund capital, although the firm failed to meet its $2.5bn fundraising target.
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Principal raises $214.4m for green fund
UNITED STATES - Principal Real Estate Investors has raised $214.4m (€144.6m) in equity commitments for its Green Property Fund.
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L&B Realty expands to Europe
UNITED STATES - L&B Realty Advisors is making its first venture into Europe with a partnership being formed with Mayfair Capital Investment Management.
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Urdang opens way to new debt strategy
UNITED STATES - Urdang Capital Management has taken a novel approach to building a new real estate debt strategy by hiring eight people from Capmark Investments, as the move means it will also act as a non-discretionary sub-adviser for two of Capmark’s commingled funds.
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Sacramento County votes against fund extension
UNITED STATES – The Sacramento County Employees’ Retirement System has said it will not support proposals to extend the investment period of the Hines US Office Value Added Fund II commingled fund.
