All articles by Jon Peterson – Page 29
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CalPERS sets new frontiers for markets and infrastructure
UNITED STATES - California Public Employees Retirement System has formulated ranges for investing additional capital in emerging and frontier markets and put unveiled its investment guidelines for investing in infrastructure.
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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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Swiss-backed AIFAA expands US strategy to Texas
UNITED STATES - AIFAA, an investment company backed by 12 Swiss pension funds, has extended its real estate portfolio to Texas for the first time with the $82m (€54.8m) acquisition of the Wells Fargo Tower office building in Austin, Texas.
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Mass PRIM buys its first properties of ‘08
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has closed the deal on its first two direct property acquisitions in 2008 and paid a total of $177.1m (€118.6m) for the assets.
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MIT index sees price decline in Q2
UNITED STATES – The MIT Center for Real Estate has seen transaction sales prices of its commercial property sold by major institutional investors decline by 2.7% in the second quarter of 2008.
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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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Illinois Teachers targets emerging managers real estate programme
UNITED STATES – The Teachers’ Retirement System of the State of Illinois is planning to create an emerging manager programme as part of its future real estate investment programme.
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Ohio Police and Fire up real estate allocation by 50%
UNITED STATES - Ohio Police and Fire Pension Fund have increased its real estate allocation from 8% to 12%.
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Indiana PERF seeks real estate consultant
UNITED STATES - Indiana Public Employees Retirement Fund is now in the process of looking to hire its first ever real estate consultant.
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NYSTRS provides the finance for real estate mortgages
UNITED STATES - New York State Teachers Retirement System has expanded its real estate portfolio with a commitment to several mortgaged transactions and a commingled fund.
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Ohio School Employees commits to office fund
UNITED STATES - School Employees Retirement System of Ohio has approved a commitment of $50m (€32.1m) into the Beacon Capital Strategic Partners VI commingled fund.
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Contra Costa County sees a debt opportunity
UNITED STATES- Contra Costa County Employees’ Retirement Association has approved a $75m (€48.6m) commitment into the ING Clarion Debt Opportunity Fund II – its first investment in a debt fund focused on real estate.
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Pension fund capital goes green
UNITED STATES – Pension funds in the United States are looking to make their real estate portfolios ‘greener’ so ING Clarion Partners has rolled out a sustainable growth initiative and its first investor is Los Angeles Fire and Police Pensions.
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Alaska Permanent Fund makes major commitment to infrastructure
UNITED STATES - The Alaska Permanent Fund Corporation has approved new commitments for infrastructure totaling $750m (€476.2m).
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Los Angeles City places capital into debt fund
UNITED STATES - Los Angeles City Employees Retirement System has made a $20m (€12.7m) to the Mesa West Real Estate Income Fund II, in a bid to capitalise on the supply and demand financing opportunities in the mid-size segment of the marketplace.
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Pennsylvania State moves capital into distressed fund
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $15m (€9.5m) into Arden Real Estate Fund I - a distressed real estate fund.
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ING Clarion closes in on value-added space
UNITED STATES - ING Clarion Partners continues with its value-added strategy for some of its capital sources with the closing of $166m (€105.4m) worth of transactions.
