Latest Alternatives News – Page 355
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LACERA books $250m into hotels and Reits
UNITED STATES - Los Angeles County Employees Retirement Association has approved $250m (€158.9m) worth of new real estate commitments, to invest in listed real estate and hotels.
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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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Pennsylvania eyes opportunities in $461m placement
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $461.5m (€293.5m) in the opportunistic sector.
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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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New player to enter 'B-Class' real estate
UNITED STATES - Former principals of Somera Capital Management have created a new player in the real estate manager market called Pacific Retail Capital Partners
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ING Clarion pays $116.2m for apartments
UNITED STATES - ING Clarion Partners has closed one of the largest single apartment investments in some time and purchased a 217-unit in Hoboken, New Jersey, for $116.2m (€75.5m).
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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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Texas buys into Latam real estate
UNITED STATES - Teacher Retirement System of Texas has approved $250m (€164.4m) worth of real estate commitments so far in 2008, including an investment in Pramerica’s Latin American residential offering.
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Swedish shoppers overtake industrials
SWEDEN - Swedish retail has overtaken office as the market’s best performing sector, according to the 2007 Swedish Annual Property Index.
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Dubai wealth fund offers €3.1bn for Colonial
GLOBAL – Sovereign wealth fund the Investment Corporation of Dubai (ICD) is seeking approval from two major shareholders in Colonial for its €3.1bn offer for the Spanish property firm.
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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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New Jersey considers $350m for non-core
UNITED STATES - New Jersey Division of Investment is looking at placing $350m (€232m) into non-core real estate investments through commitments to six commingled funds.
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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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GIC acquires Finnish retail
FINLAND - GIC, the €145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland’s largest shopping centres for €131.6m.
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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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Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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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.
