Latest Alternatives News – Page 130
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LGP is latest to drive inflation-linking real estate
UK – Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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UK pension funds to invest in real estate recovery
UK – Aviva Investors has raised £200m (€226m) from a number of UK local authority and corporate pension schemes for a new fund designed to capitalise on the market recovery in the UK but without using gearing.
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M&G checks real estate assets into Premier Inn
UK – M&G Investments has acquired five Premier Inn hotels for its Secured Property Income Fund, which offers inflation-linked income to institutional investors, including UK pension schemes.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
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Swedish pensions break into secure locations
SWEDEN – A consortium of Swedish pension funds has purchased two ongoing real estate projects from developer Skanksa, which specialise in crime prevention.
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GI Partners fund attracts fresh pension fund assets
UNITED STATES - GI Partners has raised $1.9bn (€1.3bn) for its latest commingled fund, GI Partners Fund III, through a mixture of both new and existing pension fund capital, although the firm failed to meet its $2.5bn fundraising target.
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Savills sets focus on real estate alternatives
UK – Savills has launched a series of papers to identify alternative property sectors, in response to unprecedented volatility seen in the mainstream UK commercial real estate market.
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Urdang opens way to new debt strategy
UNITED STATES - Urdang Capital Management has taken a novel approach to building a new real estate debt strategy by hiring eight people from Capmark Investments, as the move means it will also act as a non-discretionary sub-adviser for two of Capmark’s commingled funds.
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Aberdeen pension fund goes shopping in East Anglia
UK – Aberdeen Property Investors has purchased five retail units in the UK on behalf of the Aberdeen City Council Pension Fund.
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Oregon tops up distressed debt real estate holdings
US – Oregon Public Employees Retirement Fund has demonstrated its ongoing commitment to Lone Star Funds by committing a further $400m (€273.6m) of capital to the distressed real estate debt specialist.
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San Bernardino County turns to European debt
UNITED STATES - San Bernardino County Employees Retirement Association is planning to invest a total of €60m (€41m) the Apollo European Principle Finance Fund, although at least $20m of those assets are being as co-investments to specific transactions.
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Rothschild and Shaner to hotel loans REIT
UNITED STATES - Rothschild Realty and Shaner Hotel Group have formed a new investment entity called Shaner Mortgage REIT, which will invest $200m (€135.1m) in the purchase of whole loans secured by US hotel properties.
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State of Florida shifts remaining MS account to Pramerica
UNITED STATES – The Florida State Board of Administration has appointed Pramerica Real Estate Investors to manage the last 15% of a separate account previously managed by Morgan Stanley Real Estate.
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Illinois Teachers allocates money to cover debt issues
UNITED STATES - The Teachers Retirement System of the State of Illinois has become one of the first pension funds in the United States to allocate funds to a separate account manager to cover possible debt issues.
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Mass PRIM cuts real estate to grow timber
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to lower its allocation to real estate from 11% to 10% and double the size of its allocation to timber from 2% to 4%.
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Rockpoint checks in for US hotel purchase
UNITED STATES - The Rockpoint Group has completed its first acquisition in the United States in 18 months, with the $10m (€6.93m) deal to purchase the 434-room Newton Marriott Hotel in Massachusetts.
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Distressed assets are at risk - RCA
US – The sum of US real estate ‘in distress’ has doubled since the start of the year and the equity of $1.3trn (€900bn) investing in US property is at risk, according to data providers Real Capital Analytics.
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Crisis shrinks CALSTRS real estate commitments
UNITED STATES – The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (€29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
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Do your ‘debt’ due diligence - Partners Group (amended)
GLOBAL - Debt is the new investment buzzword but a warning has been sounded about the critical importance of performing thorough due diligence on real estate debt products.
