Latest Investors News – Page 570
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Oklahoma Teachers selects three core managers
GLOBAL – The Teacher Retirement System of Oklahoma has hired AEW Capital Management, Heitman and L&B Realty Advisors as its open-ended, core commingled fund managers.
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Orange County ends separate account relationship with American Realty
GLOBAL – The Orange County Employees Retirement System has decided to end its separate account relationship with American Realty Advisors.
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Malaysian pension fund allocates €1.2bn to UK property
GLOBAL – Malaysia's first-pillar pension scheme has allocated £1bn (€1.2bn) to UK real estate in expectation of a long-term annual yield of 6-7%.
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RREEF: Seoul 'safer than London'
GLOBAL – Investors will take refuge in Asian markets from "considerably riskier" developed markets such as London, according to RREEF Germany managing director Clemens Schaefer.
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Dutch manager PGGM moves into US retail amid rising residential prices
NETHERLANDS – PGGM is to expand its focus from US housing to retail, citing growing demand for residential and supply scarcity.
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Merseyside pension scheme tenders for property asset manager
UK – The £4.2bn Merseyside Pension Fund (MPF) is tendering the position of property asset manager for its UK-based direct real estate investments.
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Institutional investors could allocate 25% to open real estate, academics say
GLOBAL – A manager could invest as much as one-quarter of his portfolio into open real estate funds and still boost performance while decreasing risk, according to researchers from the German WHU Otto Beisheim School of Management and the Ludwig-Maximilians university in Munich.
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Mexico's Afores commits €231m to industrial strategy
MEXICO – The Administradoras de Fondos de Pensiones (Afores), which manages Mexico's private pension fund system, has continued to increase its exposure to alternatives by committing capital to an industrial real estate fund.
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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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US real estate emerges from downturn, but investors still unsure
US – Capital value movements have returned to positive territory in the US after two and a half years of write-downs, but economic doubts are preventing a rush of capital from investors, according to Investment Property Databank (IPD).
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LACERA earmarks $350m for real estate investment
GLOBAL – The Los Angeles County Employees Retirement Association (LACERA) has approved its real estate investment plan for the 2010-11 fiscal year, provisionally earmarking $350m (€277m) for investment.
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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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BA Pensions teams up with Columbus on City office buy
UK – The British Airways Pension Fund has entered into a 50/50 joint venture with the Columbus UK Real Estate Fund to acquire London City office Austin Friars House for £25m (€30.6m).
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APG to increase weighting to Asian markets
GLOBAL – APG, which manages the assets of the largest Dutch pension fund ABP, said it plans to increase its Asian real estate exposure by €1bn within the next five years.
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New index rates London City offices 'hottest' CRE market
GLOBAL – A new commercial property index launched in London this week found London City offices to be the world's most attractive commercial real estate market, underpriced by 11.6%.
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Rockspring completes multiple Spanish sale and leaseback deals
SPAIN – Rockspring Property Investment Managers has completed a €45m sale and leaseback deal in Spain on behalf of an unnamed UK pension fund.
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NYSTRS makes $50m allocation to Cornerstone fund
GLOBAL – The $72.5bn (€52bn) New York State Teachers’ Retirement System (NYSTRS) has approved a $50m commitment to the Cornerstone Patriot Fund, a commingled fund managed by Cornerstone Real Estate Advisers.
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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.
