North American Investors News – Page 189
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Santa Barbara County opens separate account search
UNITED STATES - Santa Barbara County Employees Retirement System has approved a Request for Information to hire a discretionary separate account real estate manager.
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Illinois State to boost real estate holdings by $300m
UNITED STATES - Illinois State Board of Investment has approved plans to invest $300m (€223.1m) in real estate in 2010.
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Pennsylvania Public School increases allocation to real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has decided to increase its targeted allocation for real estate from 8% to 10.5%. Most of the increase will be funded by the elimination of the pension fund’s 1.5% allocation to public REITs. Pennsylvania Public School ...
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BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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CalPERS to invest $1.3bn in infrastructure in 2010
UNITED STATES - California Public Employees Retirement System wants to invest as much as $1.3bn (€961.5bn) in infrastructure during 2010.
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Texas Teachers seeks growth in agriculture
UNITED STATES - Teacher Retirement System has made its first ever investment in agriculture with a $250m (€145.9m) commitment into the AG Real Value Fund, managed by Teay’s River Investments.
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Arizona Public Safety takes opportunistic strategy in real estate
UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.
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German pension funds find a way to tap core US real estate
US/GERMANY – Invesco Real Estate has raised $120m (€87m) from four German institutional investors to invest in core US real estate.
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Ohio PERS to invest $1.6bn in real estate
UNITED STATES - Ohio Public Employees Retirement System will allocate $1.6bn (€1.2bn) in real estate this year and will be targeting stable assets as well as motivated sellers in particular.
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NYSTRS signs CMBS managers to new contracts
UNITED STATES – The New York State Teachers Retirement System has signed new contracts with BlackRock Financial Management and ING Clarion Capital to manage commercial mortgage_backed securities (CMBS) investments.
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Washington State creates its own real estate benchmark
UNITED STATES - Washington State Investment Board has dropped the NCREIF Property Index as the return benchmark it applied to its real estate portfolio.
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Indiana PERF sees potential in real estate debt
UNITED STATES - Indiana Public Employees’ Retirement Fund has approved two investments in real estate debt totalling $230m (€169.9m).
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Kansas PERS turns attention to core real estate
UNITED STATES - Kansas Public Employees Retirement System has made a $100m (€73.5m) allocation to the LaSalle core commingled US Property Fund.
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ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.
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Wisconsin eyes debt as part of $250m signing
UNITED STATES – The State of Wisconsin Investment Board is in process with making new investments in real estate totalling $250m (€183.9m).
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Mass PRIM to invest $1bn in 2010
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has approved its 2010 annual real estate investment plan and could allocate as much as $1bn (€729.7m) to the asset class over the next 12 months.
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COP says US real estate could bring TARP downturn
US – Real estate loan failures at a large number of small and medium-sized US banks could destabilise the country’s financial system and derail its economy recovery, according to the government body set up to monitor the unwinding of toxic assets.
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Ohio PERS eyes apartments and mortgages
UNITED STATES – The Ohio Public Employees Retirement System has issued Requests for Information (RFI) concerning separate account managers working in the residential apartments and first mortgage loan portfolios space.
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SURS takes conservative approach to real estate
UNITED STATE - State Universities Retirement System of Illinois (SURS) is planning to apply conservative growth to its 6% targeted allocation to real estate.
