North American Investors News – Page 193
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Crisis shrinks CALSTRS real estate commitments
UNITED STATES – The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (€29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.
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Texas Teachers makes industrial acquisition
UNITED STATES - Teacher Retirement System of Texas has made one of the largest industrial acquisitions of the year by investing $410m (€292.8m) into TLF Logistics.
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RREEF weigh ups its options over America III
UNITED STATES – RREEF, the real estate investment division of Deutsche Bank, is now considering three different options to help it deal with some debt issues for its open-ended commingled fund, RREEF America III.
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Maine PERS selects ORG as real estate consultant
UNITED STATES - Maine Public Employees Retirement System has selected ORG Real Property as its first ever real estate consultant.
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Fresno County acts on concerns about value-added manager
UNITED STATES - Fresno County Employees Retirement Association has changed its mind about the appointment of a real estate manager to look after a $30m (€21.7m) allocation for a value-added investment as it has reservations about the firm’s ability to raise sufficient capital.
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Mass PRIM fires REIT manager
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has terminated its separate account REIT manager relationship with Wellington Management in part on the back of poor performance and awarded a new $40m (€28.6m) allocation to the AFL-CIO Housing Investment Trust Fund.
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Kansas PERS expands into infrastructure
UNITED STATES - Kansas Public Employees Retirement System has made its first ever investment in infrastructure with a $50m (€35.2m) commitment into the Brookfield Americas Infrastructure Fund.
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Mark turmoil encourages AlaskaPerm to rethink weightings
UNITED STATES - The Alaska Permanent Fund Corporation has increased its targeted allocation to real estate from 10% to 13%, to help cope with the impact of the financial markets crisis on its portfolio.
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IPD unveils its first US property index
GLOBAL - IPD, the provider of real estate performance analysis and benchmarking, had added US coverage to its range of country coverage with the launch of its first annual commercial real estate index and quarterly indicator for the United States.
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US recovery to be a slow haul - ING
UNITED STATES - ING Clarion Partners has predicted there will be no quick recovery of the US real estate markets.
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Texas Employees signs real estate consultant
UNITED STATES - Texas Employees Retirement System has selected RV Kuhns & Associates as its first ever real estate consultant.
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SanFran CC to spend in real estate
UNITED STATES - San Francisco City and County Employees’ Retirement System is planning to invest capital in public REITs and the non-core sector of its real estate portfolio over the next year.
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Texas Teachers to revisit core strategy
UNITED STATES - Teacher Retirement System of Texas is planning to invest approximately $500m (€368.2m) in core strategy real estate over the next 12 months.
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Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (€720.6m).
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NYSTRS extends its real estate limits
UNITED STATES - New York State Teachers Retirement System has bought a further share in a real estate backed by a European pension fund, as well as extending current management contracts.
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Wisconsin extends commitments
UNITED STATES - Wisconsin State Investment Board has made two follow-on commitments to commingled funds, in a bid to preserve capital during the market downturn.
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Texas School Fund allocates to real estate
UNITED STATES - The Texas Permanent School Fund has established a 6% targeted allocation to real estate, making this its foray into the asset class.
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Texas Teachers to invest $475m in LLPs
UNITED STATES - Teacher Retirement System of Texas is in the process of setting up two limited partnership funds with assets of $475m (€358.1m) which could make it the only pension fund investor.
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LA Fire and Police burns Adelante deal
UNITED STATES - Los Angeles Fire and Police Pensions has ended its relationship with Adelante Capital Management as a REIT manager after the firm massively underperformed its benchmark.
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OMERS tracks long-term gains with railway top-up
CANADA – Ontario Municipal Employees Retirement System (OMERS) has increased its stake in a rail infrastructure project in Detroit, to become the majority owner.
