Latest Alternatives News – Page 336
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CalPERS continues Brazilian joint venture with Hines
GLOBAL – The $210bn (€158bn) California Public Employees Retirement System (CalPERS) has given its latest endorsement to Hines' Brazilian real estate expertise by committing to the third in a series of joint ventures in the South American market.
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Newham Pension Fund backs co-investment housing fund
UK – The London Borough of Newham Pension Fund is to invest in a new residential real estate fund run by Mill Group.
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CPPIB swoops on eight shopping centres
GLOBAL – The Canada Pension Plan Investment Board (CPPIB) has spent C$230.5m (€167m) to acquire interests in eight shopping centres in Canada.
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Denmark's FSP, Lærernes team up on residential development
DENMARK – Danish pension funds FSP Pension and Lærernes Pension have teamed up to invest nearly DKK400m (€53.7m) in a new residential property development in Denmark.
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West Midlands boosts exposure to UK retail with three deals
UK – The West Midlands Pension Fund has bolstered its retail exposure in the UK by adding a shopping centre, warehouse park and supermarket to its direct portfolio.
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Stakes raised in Henderson PFI dispute as legal advisers sacked
UK – The stakes in the legal dispute between Henderson Global Investors and a group of 30 pension funds have been raised on news that Henderson has replaced its legal advisers, CMS Cameron McKenna, with Clifford Chance.
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UK roundup: Greater Manchester Pension Fund, GVA Grimley, British Property Federation, Oaktree
UK – The UK government has rejected proposals to help attract institutional investment in residential property despite growing interest in the sector.
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Invesco fund shows German appetite for UK property remains strong
EUROPE – Invesco Real Estate has raised €75m from four German institutional investors, enabling it to make a first closing for its latest UK real estate fund.
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German Spezialfond looks to invest in Belgium, France
GERMANY – HypoVereinsbank's real estate investment subsidy iii-Investment has launched a new Spezialfond, aiming to raise €400m worth of capital.
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MGPA's opportunity fund targets €200m of German retail
GERMANY – MGPA's European opportunistic real estate fund has acquired 140 ALDI SÜD stores in Germany as it seeks to deploy close to €200m of capital in the country's retail sector over the next six months.
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Investors shunning PE funds, keeping cash for JVs
GLOBAL – Institutional investors are holding back from private equity real estate funds, preferring to hold on to their capital or channel it into direct investment and joint ventures, according to Preqin, the private equity data firm.
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CPPIB, Future Fund recapitalise Australian shopping centre fund
GLOBAL – Canada Pension Plan Investment Board (CPPIB) and Australia's Future Fund have helped recapitalise a flagship Australia shopping centre fund by agreeing to invest A$750m (€524m) between them.
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Nebraska puts $63m into core commingled funds
GLOBAL – The Nebraska Investment Council (NIC) has approved $63m (€49.6m) worth of real estate commitments into core open-ended commingled funds.
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Medicx fund highlights growing investor interest in healthcare
UK – A healthcare fund run by specialist investor and developer Medicx has raised £45m (€55.1m) in capital from a number of institutional investors, the National Grid UK Pension Scheme, the Merseyside Pension Fund, Henderson Global Investors and Prudential.
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Pramerica to take on UBS ground lease fund
UK – Pramerica Real Estate Investors will take over from UBS Global Asset Management as investment adviser for the UBS Secure Income Property fund.
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Rockspring completes first continental deal for Korea's NPS
GLOBAL – The National Pension Service (NPS) of Korea, the fifth-largest pension fund in the world, has acquired a 51% stake in the O'Parinor Shopping Centre in Paris for €223m.
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Polish pension property reform 'would not eliminate risk'
POLAND – Asset managers would be unlikely to take on Polish pension funds' property portfolios even if domestic reforms were to lift restrictions on them investing in alternatives, according to Dariusz Stánko, a specialist at the Warsaw School of Economics.
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Pension schemes shifting toward city centres, says Cushman & Wakefield
EUROPE – European pension schemes are diverting their retail exposure away from shopping centres toward city-centre high streets in search of higher yields generated by active management.
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LA public fund proceeds with real estate debt strategy
GLOBAL – Los Angeles County Employees Retirement Association (LACERA) has sanctioned investment in real estate debt for the first time.
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AFIAA shuns London for Scottish investment
UK – AFIAA, the global property investor owned by 18 Swiss pension funds, has made its second acquisition in the UK, having bought a new mixed-use development in Edinburgh.
