News – Page 1096
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Dutch SPF sets €150m in real estate target
REAL ESTATE - SPF Beheer, manager of the Dutch rail and public transport pension funds, has changed its investment strategy seriously. After the rather cautious investment approach towards real estate until 2005, the last year a more aggressive a...
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Colonia results reflect bullish German market
REAL ESTATE - German real estate firm Colonia exceeded its group-wide income targets by €4m, delivering €6.8m in 2005. As it announced the results, the firm said it would increase its guidance for the coming year “considerably”...
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Sacramento scheme commits to offices
REAL ESTATE – The Sacramento County Employees Retirement System has decided to invest all of its separate account capital into office buildings. The main reason for this is portfolio diversification. The fund’s chief investment office...
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NIBC nabs three for real estate
REAL ESTATE – Dutch banking group NIBC has hired three pension industry real estate people as it expands its real estate and infrastructure unit. It said the move was part of its strategy “to grow the investment management activities f...
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Germany’s €17.7bn BVV eyes real estate
REAL ESTATE - BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity. As reported b...
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NJ to invest in two new commingled funds
REAL ESTATE- The New Jersey Division of Investment has committed a $75m investment into both the CPI Capital Partners Europe and to Walton Street Real Estate Fund V. The CPI Capital Partners Europe fund will be the pension fund’s initial inv...
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CalPERS’ real estate official McCook to retire
REAL ESTATE – Mike McCook, senior real estate investment officer at the $183bn (euro) California Public Employees’ Retirement Scheme, is to retire. An official at the Sacramento-based fund told IPE Real Estate that McCook is to retire ...
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Foreign investors eye South African market - IPD
REAL ESTATE - Potential returns from South African real estate are encouraging overseas investors despite the perceived risks, according to research firm International Property Databank (IPD). Stan Garrun, IPD South Africa managing director, said...
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ABP in French office tie with Grosvenor
REAL ESTATE – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is to invest in French office real estate in a tie with the Duke of Westminster’s Grosvenor group. “We have not been active in the office market sinc...
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ABN Amro shortlists Bouwfonds buyers
REAL ESTATE - Bouwfonds, the ABN AMRO property fund put up for sale in December, announced last week that it had shortlisted would-be buyers as credit rating agency Moody’s confirmed it was holding the firm on review for possible downgrade. ...
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Montana State to make real estate play
REAL ESTATE - The $7bn Montana State Board of Investment will be making a move into real estate for the first time in several years this month. The pension fund has a board meeting on April 26. At this meeting the board will discuss a minimum real...
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IVG targets schemes with bespoke funds
REAL ESTATE - Bonn-based IVG Immobilien is to target pension funds with bespoke vehicles invested in non-listed real estate – in addition to its growing portfolio of closed-end core, opportunistic and development funds. The firm has already...
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German REITs edge closer with new draft - paper
REAL ESTATE – The German finance ministry is apparently near completing a draft law that would legalise Real Estate Investment Trust (REITs) in Germany from the beginning of 2007. Germany’s Börsen-Zeitung reported that the ministr...
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Philips scheme buys into new project
REAL ESTATE – The €11.4bn Philips Pension Fund has acquired Amsterdam Symphony, a real estate project in Amsterdam’s main new real estate project called Zuid As. According to unnamed sources, the acquisition will have cost betwe...
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Pennsylvania to invest $100m in non-core funds
REAL ESTATE- The Pennsylvania State Employees Retirement System has decided to invest $25m into the Prudential Latin America Retail Fund and $75m into the Hawkeye Partners Scout Fund. Neither of these investments are typical of investment funds th...
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Credit Suisse nabs Deutsche Australia team
REAL ESTATE - Credit Suisse has poached senior managers from Deutsche Bank to head a new real estate finance business at its Australian investment bank. The Swiss bank says the team – comprising investment banking heads David Dixon and Step...
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Real estate M&A boosts banks
REAL ESTATE - Investment banks are building up their businesses in European real estate as property markets become increasingly sophisticated, cash-intensive and global. In a trend described as the “Anglicisation” of property markets,...
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DekaBank ahead on fund revamp
REAL ESTATE – Germany’s DekaBank says it expects to complete the restructuring of its embattled German property fund well ahead of a previously given date of 2009. Over the last two years, the fund has suffered more than €2bn in ...
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Bank association sees German REITs next year
REAL ESTATE - The Association of Foreign Banks in Germany (VAD) reckons that despite more recent anti-private equity rhetoric from the governing Social Democrats, Berlin will legalise Real Estate Investment Trusts from 2007. About a year ago, Fran...
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Los Angeles fund picks two REIT managers
REAL ESTATE- The Los Angeles Fire & Police Pension System has selected Adelante Capital Management and Morgan Stanley Investment Management as its first two managers for its first ever REIT investment program. Both of these managers were award...
