Latest Alternatives News – Page 113
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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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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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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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ING shuffles European managers for healthcare launch
NETHERLANDS - ING Real Estate Investment Management (ING REIM) has shuffled its European management team ahead of the launch of the firm’s first healthcare property fund.
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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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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firms’ European carpark assets in a joint venture.
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Kåpan eyes more real estate after poor year
SWEDEN – The SEK32.7bn (€3.5bn) Kåpan Pensioner scheme forgovernment employees booked a return of 2.1% for 2007, and now plans toincrease its real estate allocation to 10%.
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CalPERS allocates $2.4bn to timberland
UNITED STATES - California Public Employees Retirement System (CalPERS) has made an initial new allocation to invest 1% of its total plan assets in timberland, which means $2.4bn (€1.6bn) could be invested to the property type over several years.
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CalPERS approves €850m in real estate
UNITED STATES - California Public Employees Retirement System has allocation $859.8m (€587.9m) of new real estate investments in commingled funds containing a mixture of local and international real estate, and debt.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
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KBC Pensioenfonds shifts real estate for LDI
BELGIUM – KBC Pensioenfonds has significantly diversified its real estate allocation within the last eight months, in a bid to match the scheme's liability-driven investment (LDI) strategy.
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Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
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Pramerica sets up hotel JV
UNITED STATES - Pramerica Real Estate Investors has formed a new joint venture with Ashford Hospitality Trust to invest in hotel properties through structured debt and equity.
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Alaska Permanent Fund resettles in Chicago
UNITED STATES - Alaska Permanent Fund Corporation has moved back into investing in the Chicago real estate market for the first time in several years, through the purchase of The Shops at North Bridge.
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US state scheme invests in student housing
UNITED STATES - An unnamed US state pension fund has set up a US$100m (€67.5m) account to invest in student and faculty accommodation at the University of California.
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Pension funds see potential in credit turmoil
GLOBAL - Funds that can benefit from the turmoil and dislocation rising from the credit crunch will attract institution capital in 2008, say industry experts.
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Student firm offloads assets worth €307m
UK - Unite, the UK student accommodation firm 4.5% owned by Dutch civil service scheme ABP, last week sold £220.3m (€308m) of assets to the UK Student Accommodation Fund (USAF), in a move designed to fund its growth.
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PFA leaps allocation to tap infrastructure growth
DENMARK – The huge Danish PFA corporate pension fund has boosted its infrastructure investment and plans to move even further into the asset class next year, probably including direct investments in the sector for the first time.
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CalSTRS and Waterson seek apartment viewings
UNITED STATES - California State Teachers Retirement System and Waterton Associates have created a new apartment investment fund, to tap into what they anticipate will be a shift in the sector.
