All Real Assets articles in June 2007 (Online) – Page 2
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News
EC appoints experts for open-ended fund inquiry
EUROPE - The European Commission has appointed an expert panel to advise on regulation of open-ended real estate funds. The panel, which will meet until January 2008, comprises members including representatives of Crédit Agricole Asset Manage...
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News
CalSTRS gets closer to its real estate allocation
UNITED STATES- The California State Teachers Retirement System is inching its ways towards its targeted real estate allocation of 11% as the pension fund invested $560m (€420m) in the first quarter of this year. CalSTRS has now invested 9...
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News
Alaska to invest in infrastructure
UNITED STATES- The Alaska Permanent Fund Corporation making its first move towards investing in infrastructure and plans to initially invest up to $800m ($601.9m euros) in the concept as a separate asset class. The $40bn pension fund agreed at it...
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PenSam’s Weischer quits to give advice
DENMARK - Investment manager Michael Weischer has quit PenSam, the Danish public-sector pension scheme, to advise other pension funds on real estate indirect investment. The €6.3bn fund has yet to select a successor when Weischer leaves at t...
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Vopak eyes growth as Aberdeen picks up mandate
NETHERLANDS - The €660m pension fund of tank terminal operator Vopak has awarded a €15m property investment mandate to Aberdeen Asset Management. Funds will be invested in European real estate through Aberdeen’s fund of funds, Ce...
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JER raises €800m for Europe
UNITED STATES – JER Partners has raised €809m for its called JER Europe Fund III - the largest European investment fund so far for the company. JER accumulated €128m in 1998 through its Europe Fund I and six years later raised a ...
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REITs to determine Indian property market
INDIA - Moody’s has urged the Indian government to push forward a regulatory and taxation framework allowing that market to introduce real estate investment trusts (REITs). In a research paper published last week, the ratings agency suggeste...
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Oregon edges to target with new deals
UNITED STATES - The Oregon State Treasury has approved two real estate investments for two different institutional investors totaling $129m ($95.6m euros), which edges Oregon Public Employees Retirement Fund (PERF) closer to its 8% real estate alloca...
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IPO gives comfort to jittery Spanish market
SPAIN - An oversubscribed share issue last week from Spanish property firm Realia suggests a partial recovery in market sentiment from last month’s jitters over asset sale irregularities at another property group. Of the shares on offer, 52%...
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News
Shorenstein sees new fund climb fast
UNITED STATES - Shorenstein Properties LLC had one of the fastest fundraising periods in recent memory with its latest commingled fund, the Shorenstein Realty Investors Nine. Around 85% of the investor commitments for the new fund had previously i...
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News
ING Clarion takes hotel REIT private
UNITED STATES- ING Clarion Partners has acquired Apple Hospitality Two and turned it from a REIT owning 63 extended stay hotel properties in 24 states into a private company. Acquisition price for the company was $877m ($649.5m euros) and financed...
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News
More pension fund capital headed for infrastructure investing
UNITED STATES - More pension funds are expected to move into investing in infrastructure in the months ahead as New Jersey Division of Investment, California State Teachers Retirement System and Alaska Permanent Fund Corporation have now expressed an...
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Mercer calls for earlier selection input
EUROPE - Pension funds seeking real estate fund managers need to get involved in selection process discussions at an earlier stage because the bespoke nature of mandates is becoming more complicated, according to consultants Mercer. Greg Wright, p...
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News
Blue Sky hires successor to Satumalaij
NETHERLANDS – Blue Sky Group, the manager of Dutch airline KLM’s pension fund assets, has appointed Hidde Frequin as its new real estate fund manager real estate. Succeeding Raymond Satumalaij, who resigned in March to join fund manage...
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News
Hawkeye Partners begins emerging manager capital handover
UNITED STATES - Hawkeye Partners is about to begin the process of allocating equity it raised through its Scout Fund to emerging managers. The commingled fund manager raised in excess of $650m ($480.3m euros) for the fund through a select group of...
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Vector’s bid to become hotel REIT thwarted
UK – Investors have derailed plans by UK hotel group Vector Hospitality to become Europe’s first hotel real estate investment trust (REIT). Vector was forced to abandon a planned flotation on the London Stock Exchange (LSE) last Thursd...
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News
Baltics to overtake CEE markets in residential
SWEDEN - Swedish bank SEB last week acquired the €37m Europeum Business Centre in Bratislava amid wider positive forecasts for the Slovakian market. The seven-storey building, for SEB’s ImmoPortfolio Target Return Fund, was built in 2...
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News
French & UK pension funds invest €125m in Nordics
NORDIC REGION - Aberdeen has raised €125m in the fourth closing of Aberdeen’s €370m pan-Nordic real estate SICAV as UK, French and Scandinavian pension funds see Nordic economies outstripping those in Western Europe. Ubbe Strihag...
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News
Investors squeeze Ferrovial over Polish project
Institutional investors are urging Spanish infrastructure group Ferrovial to re-route a Polish infrastructure project they claim endangers local wildlife. The Polish government, which commissioned the Via Baltica by-pass project, is currently bef...
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Texas Employees makes major move to global REITs
UNITED STATES - The Employees Retirement System of Texas has decided to invest all of its targeted allocation for real estate into a global REIT investment strategy. The $24bn (€17.86bn) public pension fund’s targeted allocation for r...
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