All articles by Jon Peterson – Page 34
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New Jersey commits to high return fund
UNITED STATES - New Jersey Division of Investment has approved a $100m (€64.1m) commitment to the Lehman Brothers Real Estate Partners III commingled fund.
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San Diego City expands its international focus
UNITED STATES - San Diego City Employees’ Retirement System is growing its international real estate investment program by investing in a commingled fund and moving its domestic REIT program to a global stage.
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Ohio Police & Fire invest $162m in real estate
UNITED STATES - Ohio Police & Fire pension fund has approved a real estate strategy to invest $162m (€103.8m) in the asset class for 2008.
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MagazineNo place like homes
The US pensions landscape has changed but many are still investing in housing – and structured finance for that matter – to exploit market dislocation. Jon Peterson reports
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Pennsylvania State turns to RE fund of funds
UNITED STATES - Pennsylvania State Employees Retirement System has made a $75m (€48.7m) commitment into the fund of funds offering known as Oculus Small Cap real estate fund I.
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Ohio PERS eyes overseas REITs
UNITED STATES - Ohio Public Employees Retirement System is looking at creating an international REITs investment strategy.
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Pramerica takes its next Latam leap
UNITED STATES - Pramerica Real Estate Investors has closed its latest Latin American commingled fund and completed its first transaction in Chile.
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Chicago Teachers buys Asian exposure
UNITED STATES - Public School Teachers’ Pension and Retirement Fund of Chicago has extended its international real estate exposure by agreeing to allocate $40m (€25.7m) to the Merrill Lynch Asia real estate opportunity fund.
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CB Richard Ellis enters entity level
UNITED STATES - CB Richard Ellis Investors has completed its first ever entity level transaction and acquired a majority share in Atlanta-based apartment developer Wood Partners.
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Maryland State to double real estate allocation
UNITED STATES - Maryland State Retirement Agency is doubling its targeted allocation for real estate from 5% to 10%.
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LACERA books $250m into hotels and Reits
UNITED STATES - Los Angeles County Employees Retirement Association has approved $250m (€158.9m) worth of new real estate commitments, to invest in listed real estate and hotels.
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Mass PRIM plants natural resources RFP
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has issued a Request for Proposal (RFP) for a global natural resources investment mandate worth $900m (€570.6m).
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Pennsylvania eyes opportunities in $461m placement
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $461.5m (€293.5m) in the opportunistic sector.
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San Francisco extends real estate holdings
UNITED STATES - San Francisco City and County Employees’ Retirement System made changes to its real estate portfolio to take advantage of market dislocation.
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CalSTRS buys into opportunistic projects
UNITED STATES - California State Teachers Retirement System has grown its opportunistic real estate portfolio by $154m (€100.2m) through two new commitments, including one to a new development project in Washington DC.
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Chicago Police eyes more real estate
UNITED STATES - Chicago Policemen’s Annuity and Benefit Fund has increased its allocation to real estate from 5% to 7%.
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New player to enter 'B-Class' real estate
UNITED STATES - Former principals of Somera Capital Management have created a new player in the real estate manager market called Pacific Retail Capital Partners
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Principal creates California JV
UNITED STATES - Principal Real Estate Investors has created a new joint venture with The Martin Group to invest in Californian real estate.
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Arizona State cuts follow-ons to limit market impact
UNITED STATES - Arizona State Retirement System is cutting back on its follow-on commitments to existing real estate investments but still diversifying some assets to prevent ‘denominator’ damage of over-allocation.
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LaSalle warns of poor Reits performance
United States - LaSalle Investment Management Securities has indicated the performance of US REITs was lackluster in the fourth quarter of 2007 and further is likely to be for the coming months.
