All Real Assets articles in June 2006 (Online)
View all stories from this issue.
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News
Sacramento interviews four real estate managers
REAL ESTATE - The Sacramento County Employees Retirement System is to interview four value-added commingled fund real estate managers for its new manager search. The four commingled funds are AEW Value Investors II, GEAM Value Add Realty Partners,...
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Land Secs: schemes ‘to ditch direct real estate’
REAL ESTATE - Pension funds will scale down direct investment in real estate in favour of UK REITs, according to Land Securities, Europe’s largest property company. The UK firm’s annual report, published last week, forecast that pens...
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Investors now ‘more choosy’ on real estate IPOs
REAL ESTATE – Merrill Lynch reckons investors have become more discriminating about new real estate share issues recently. It follows what it calls an earlier “indiscriminate” flood of cash from investors into real estate initial...
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Carlyle hires for Nordic real estate
REAL ESTATE - US private equity group Carlyle has appointed Thomas Lindström to head its new Nordic real estate operations. Lindström joins from GE Real Estate, where he was responsible for Nordic acquisitions. As managing director,...
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Singapore govt boosts European real estate team
REAL ESTATE - The Government of Singapore Investment Corporation (GIC), one of the world’s largest fund managers, is recruiting a real estate investment manager for its European portfolio. The new fund manager will manage direct investments...
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BP pension fund not giving up on town bid
REAL ESTATE – The £12bn (€17.4bn) BP Pension Fund says it hasn’t given up on its bid to build a new town in southern England, despite a regional inspector’s report recommending it be shelved. The Hertfordshire develop...
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Illinois to invest up to $90m in three funds
REAL ESTATE - The $11bn Illinois State Board of Investment will be investing up to $90m (€71.7m) into three non-core pooled (commingled) funds. The fund will take the action at its board meeting later this month, June 29-30. T...
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Washington State invests $850m in real estate
REAL ESTATE- The Washington State Investment Board has placed $850m (€677m) of new investment capital into real estate in two investments. The fund made an investment of up to $750m into GMS International and a $100m commitment into the Warb...
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News
Swiss Publica in €70m Basle development
REAL ESTATE – Publica, a pension fund for federal employees that is one of Switzerland’s largest, has invested CHF110m (€70m) in the creation of 240 new flats in the city of Basle. Publica, which allocates 4.5% of its CHF32.8bn i...
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Dutch metalworkers in €18m apartment buy
REAL ESTATE - Mn Services has acquired part of the Netherlands’ largest building for its owner, the €20bn metalworkers’ Pensioenfonds Metaal en Techniek (PMT), for €18.34m. PMT acquired a residential section of the 152m hi...
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Germany plans huge real estate sell-off
REAL ESTATE – The German government plans to sell €500m worth of its own real estate annually as part of a rationalisation programme, the head of the federal agency in charge of the properties says. The government’s properties in...
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PensionDanmark starts real estate project
DENMARK – PensionDanmark has begun building apartments in Måløv, near Copenhagen, that will be ready for occupation at the end of 2007. By 2008 PensionDanmark, an industry-wide pension fund, will invest DKK800m in building four dif...
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SocGen real estate chief exits in revamp
REAL ESTATE – Quoc-Gian Tran, global head of real estate at Societe Generale Asset Management’s alternatives arm, is leaving to be replaced by Jean-Christophe Ginet. Tran plans a “new departure to his career” a statement sa...
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CBRE in deal with Oxford Property Consultants
REAL ESTATE – UK real estate research and investment firm Oxford Property Consultants has inked a deal with CB Richard Ellis. The move will see a merger between OPC’s investment management arm with the existing UK multi-manager busines...
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Canadian schemes in UK infrastructure face-off
REAL ESTATE - Two Canadian pension funds are slugging it out in a bidding war for Associated British (AB) Ports. A Macquarie-led consortium including Canada Pension Plan (CPP) Investment Board on Thursday urged AB Ports shareholders not to a resp...
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IPD names Callender’s replacement
REAL ESTATE - Real estate data firm IPD has named Malcolm Frodsham to take the director of research role vacated by Mark Callender last year. Callender – research chief since 2001 – joined Schroders as head of international property re...
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Swedish buffer fund considers real estate
REAL ESTATE – The roughly SEK187.3bn (€20.2bn) buffer fund Första AP-Fonden, or AP1, may consider real estate as it continues its push into alternative asset classes. “It could be hedge funds or real estate,” said a sp...
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Stouthamer boosts European team
REAL ESTATE - Composition Capital – the investment management firm set up by former MN Services real estate chief Erwin Stouthamer last year – is close to hiring an investment manager for its Composition Capital Europe fund. The Dutc...
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Finland’s Varma offloads €74m of retail
REAL ESTATE – Varma Mutual Pension Insurance Co., Finland’s largest private insurance company, has agreed to sell 116 retail properties to a real estate fund. Sveafastigheter Fund II said it has signed an agreement to acquire the prope...
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Rubenstein raises €378m for new office fund
REAL ESTATE - Rubenstein Partners has attracted a total equity raise of $475 million (€378m) for its commingled fund, Rubenstein Properties Fund, L.P. The investors in the fund were a mixture of corporate pension funds, educational endowment...
