Latest Alternatives News – Page 306
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BP deal squares up to property downturn
UK- BP’s pension fund real estate arm Ropemaker Properties has formed a £100m UK investment fund called Cubemaker Partnership with London-based property company Cube Real Estate, that aims to take advantage of the economic downturn and acquire cheap assets.
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Swiss funds still favour real estate
SWITZERLAND – Nine out of 10 Swiss pensions funds are indirectly invested in real estate while the majority also directly invest in the market, according to research from real estate investment specialist Sal Oppenheim.
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CalSTRS prepares for market turn
UNITED STATES - California State Teachers Retirement System is investing capital with existing real estate managers so these firms will have capital ready to place in the real estate market when conditions start to improve.
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New York State takes $450m investment opportunity
UNITED STATES - New York State Common Retirement Fund has approved $450m (€308.2m) of commitments into three opportunity funds, in a bid to generate projected gross IRR of 20%.
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Washington State agrees $1.15bn investment
UNITED STATES - Washington State Investment Board has made three commitments in real estate and the tangible asset classes amounting to $1.15bn (€782m).
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Student accommodation contrasts economic slowdown
UK - The UK student accommodation sector is continuing to thrive while most other property sectors feel the pinch in tough economic conditions, according to real estate consultancy group King Sturge.
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Los Angeles City nears commitment to debt fund
UNITED STATES - Los Angeles City Employees’ Retirement System is getting close to making a $25m (€17.6m) commitment to the ING Clarion Debt Opportunity Fund III.
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ABP extends hotel holdings in key European cities
EUROPE - Europe’s second-largest pension scheme ABP, the Netherland’s huge €215bn public service fund, has expanded its European real estate portfolio with the purchase of six hotels in Paris, Amsterdam and Düsseldorf.
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AvalonBay falls short of capital raising goal
UNITED STATES - AvalonBay Communities has raised $333m (€234.2m) of equity for its latest commingled fund, AvalonBay Value Added Fund II – but this is short of the $500m goal established early in the process.
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CalSTRS expands real estate debt investments
UNITED STATES - California State Teachers Retirement System is in the process of increasing its efforts investing capital into real estate debt, having just invested $500m (€354.5m) in that arena.
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Kansas PERS moves into senior housing
UNITED STATES - Kansas Public Employees Retirement System has expanded its real estate strategy into senior housing by making a $35m (€24.6m) commitment to AEW Senior Housing Investors LP.
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Orange County considers opportunistic allocations
UNITED STATES - Orange County Employees Retirement System has approved a plan to explore the idea of creating a separate allocation for opportunistic or innovative investments.
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Pramerica sees capital waiting on the sidelines
UNITED STATES - Pramerica Real Estate Investors have found a huge sum of investible capital is currently sitting on the sidelines in the United States, as investors are unsure whether now is a good time to invest given market conditions.
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Texas Teachers makes $250m gateways commitment
UNITED STATES - Teacher Retirement System of Texas has approved a $250m (€171.2m) commitment with Westbrook Partners’ latest commingled fund.
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SanFran City and County signs follow-on commitments
UNITED STATES - San Francisco City and County Employees’ Retirement System is extending its relationship with CapMark Financial Group by approving follow-on real estate commitments worth $62.5m (€43.2m).
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CalPERS taps call for debt liquidity
UNITED STATES - California Public Employees Retirement System has made a $200m (€135.4bn) commitment into a US Debt Fund investment run by JER Investors Trust, to take advantage of dislocation in the credit markets.
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Student housing firm’s projects to target graduates
UK – London-based specialist property development group Unite is planning to build two student residence blocks worth €68m in London, and expanding its repertoire to try and plug the demand for housing among graduates.
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CalPERS sets new frontiers for markets and infrastructure
UNITED STATES - California Public Employees Retirement System has formulated ranges for investing additional capital in emerging and frontier markets and put unveiled its investment guidelines for investing in infrastructure.
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Contra Costa County seeks moves into wider space
UNITED STATES - Contra Costa County Employees Retirement System is looking to make some big moves into the opportunity fund sector of real estate.
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San Francisco City and County turn to distressed debt
UNITED STATES - San Francisco City and County Employees’ Retirement System has made a €20m commitment into the Apollo European Principal Finance fund, to tap into the growing demand for distressed debt support.
