More Top Stories – Page 1104
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New York teachers invest $105m
REAL ESTATE - New York State Teachers Retirement System has approved investments up to $105m (€81m) in two commingled funds. These actions were taken by the pension fund at its board meeting at the end of July. One of the investments was a...
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ATP real estate outperforms
REAL ESTATE - Real estate boosted the performance of Denmark’s largest pension fund, Arbejdsmarkedets Tillægspension, which last week reported overall half-year returns of DKK5bn. In a statement, the pension fund attributed the return ...
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LA Fire & Police to invest in commingled
REAL ESTATE – The Los Angeles Fire & Police Pension System has approved an investment in a commingled fund and signed off on some emerging manager guidelines. The pension fund has committed to invest $25m into the ABR Chesapeake Fund III...
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ABP’s Puay Ju joins Aberdeen
REAL ESTATE - Kang Puay Ju, senior portfolio manager at Dutch pension fund ABP will join Aberdeen Asset Management’s real estate arm’s new Asian property fund, the asset manager announced.
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Cordea boosts European team
REAL ESTATE - Real estate fund manager Cordea Savills has boosted its London and Milan operations with specialists in Italian retail and UK student housing. Federica Bajeli joins the Italian office from Jones Lang LaSalle, where she was a retail ...
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Illinois Teachers eye hotels, international
REAL ESTATE - The $36.8bn (€28.9bn) Teachers’ Retirement System of the State of Illinois has approved an investment into a hotel acquisition fund and will be looking to expand into international real estate investments possibly later thi...
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Ex-Mn Services’ Dijkhuis sets up own firm
NETHERLANDS - Jan-Willem Dijkhuis, former director of Dutch real estate investments at asset management firm Mn Services, has set up his own consultancy firm for the financial and real estate sector. He’s teamed up with Mariëtte Meulma...
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Pennsylvania schools in REIT move
REAL ESTATE – The Pennsylvania Public School Employees Retirement System has allocated capital to three new REIT managers and made a commitment to a new office building investment fund. One of the new REIT managers was hired for a non-US pub...
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Sumitomo issues global fund in Japan
REAL ESTATE - Tokyo-based Sumitomo Mitsui Asset Management has launched a global real estate fund for the Japanese market, sub-managed by ABN Amro Asset Management. The ‘REIT-Plus’ fund is taking advantage of ABN Amro’s global r...
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Institutions 'turning to Continent'
REAL ESTATE - Pension funds and other institutional investors are turning to continental European real estate as a partial exit route from an underperforming UK market, according to Ben Stirling, head of real estate at Morley Fund Management. ...
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CalPERS could short US REITS
REAL ESTATE - The California Public Employees’ Retirement System (CalPERS) will short US REITs if the pension fund’s board agrees to a recommendation from its investment policy subcommittee. In June the investment committee agreed in ...
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UK coal scheme role for British Steel’s Debney
UK – LaSalle Investment Management has hired Richard Debney as European director and fund manager for the British Coal Schemes Pension Plan. Previously, Debney was head of property for the British Steel Pension Fund, where he was responsible...
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Ohio Police & Fire to invest in two funds
REAL ESTATE - The $10.8bn (€8.4bn) Ohio Police & Fire Pension Fund has approved investments totaling $200m into two core open-ended commingled funds. Both the Strategic Property Fund and Pramerica Real Estate Separate Account (PRISA) w...
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BOE scheme takes 6.7% of Henderson property fund
REAL ESTATE - The Bank of England’s pension fund has acquired almost 6.7% of Henderson Global Property Investors, the fund manager. The central bank acquired the shareholding – the company’s largest – via the Securities Ma...
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Oregon buys California complex
REAL ESTATE - The Oregon Public Employees Retirement Fund has bought a 232-unit apartment complex in California for $36.7m (€28.5m). It’s bought Redwood Creek Apartments in Rohnert Park via its real estate manager, General Investment a...
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State of Maryland hires global REIT manager
REAL ESTATE - The $34.4bn Maryland State Retirement System has selected Morgan Stanley as its global REIT manager. The pension fund took this action at its board meeting towards the end of July. The fund has awarded an allocation of up to $15...
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Rhode Island fund ditches direct
REAL ESTATE - The Employees’ Retirement System of Rhode Island (ERSRI) last week ditched direct investment in real estate from its $7.3bn portfolio when it sold the four-story former American Express building in Providence for $20m. State tr...
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Workspace announces REIT plan
REAL ESTATE - Workspace, the small business landlord 3.7%-owned by Dutch civil service pension fund ABP, has told investors it would convert to a real estate investment trust (REIT) when new legislation comes in next January. Under the REIT regim...
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CalSTRS to invest $600m in two ventures
REAL ESTATE – The California State Teachers Retirement System has established two joint ventures where it will be investing initially $600m. One of the ventures is being called FirstCal 3, LLC. This is a deal with First Industrial Realty Tr...
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Church of England to sell “greenbelt” site
REAL ESTATE - The Church of England is to sell off “greenbelt” land for the development of a 240-acre business park if a regional development agency approves a proposed regeneration scheme. Inspectors will next month advise on the pro...
