More Top Stories – Page 1059
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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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AVP Advisors raises $400m in ‘alternative real estate’ play
UNITED STATES - AVP Advisors attracted $400m ($273.5m euros) of institutional capital, including pension fund assets, to a new type of commingled fund combining indirect investment with direct holdings.
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NYSTRS creates new industrial JV
UNITED STATES - New York State Teachers Retirement System (NYSTRS) has created a new joint venture to invest in western US industrial properties.
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SanFran Employees selects global REIT managers
UNITED STATES - San Francisco Employees’ Retirement System has selected European Investors and ING Clarion Real Estate Securities as its global Reit managers.
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Russell Investments adds real estate staff
UNITED STATES - Russell Investments has expanded its real estate staff with the hiring of Dawne Clark as a portfolio manager.
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Join us in Berlin for IPE Real Estate Awards 2008
EUROPE - The 4th IPE Real Estate Investor Forum & Awards will take place in Berlin on Thursday 22 & Friday 23 May 2008, and pension funds are now being invited to join us for this important gathering.
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UK pension funds look east for storage
UK - UK pension funds see continued traction in Central and Eastern European (CEE) logistics despite concerns over pricing in other segments of those markets.
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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.
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Credit crunch cost $3-4trn – JP Morgan
GLOBAL – JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (€2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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ING Clarion targets $5bn in 2008
UNITED STATES - ING Clarion is expecting to invest $5bn (€3.44bn) in real estate in the United States and Mexico in 2008 - equal to its accomplishments in 2007 despite the recent market downturn.
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Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
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Nevada PERS strengthens ‘all-cash’ core status
UNITED STATES - Nevada Public Employees Retirement System has decided to grow its real estate portfolio through the acquisition of core assets adopting all-cash purchases.
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NYSTRS buys $250m in fresh real estate
UNITED STATES - New York State Teachers Retirement System has added a mix of international, opportunistic and structured finance funds to its real estate portfolio totaling up to $250m (€171.1m).
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Savanna creates first institutional fund
UNITED STATES - Savanna Investment Management has joined the institutional fund management business with the closing of its Savanna Real Estate Fund I.
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Pension property fund reaches €1bn
EUROPE - TKP Pensioen Real Estate Fonds (TREF), the pooled property fund set up in 1998 for the Dutch KPN and TNT pension funds, last week passed the €1bn mark to become the largest European property fund-of-funds.
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UK market 'has further to fall'
UK - HSBC analysts have claimed the UK market has further to fall, despite recent speculation it had already bottomed out following significant investment in UK property equities by GIC, the Singapore sovereign wealth fund.
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China set to buy Japan
ASIA - Liquid Chinese institutions could replace western investors in the region’s mature property markets, including Japan, according to Standard Life Investments.
