North American Investors News – Page 198
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Illinois Teachers reviews five-year strategy
UNITED STATES - Teacher Retirement System for the State of Illinois is looking at making several changes to its real estate strategy as part of its five-year plan for real estate.
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Tennessee Consolidated extends manager relations
UNITED STATES - Tennessee Consolidated Retirement System is beefing up the range of separate account real estate managers it invests with.
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CPPIB invests fresh CA$1.4bn in real estate
CANADA – The Canada Pension Plan Investment Board has expanded its real estate portfolio with $1.4bn worth of new investments, bringing the fund’s total real estate commitments to $8.4bn.
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Survey finds investors still want to tap real estate
UNITED STATES - Investors are ready to make the most of a predicted decline in value of commercial real estate, the results of Ernst & Young ‘s “Reality Check Survey” suggest.
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Santa Barbara County plans international expansion
UNITED STATES - Santa Barbara County Employees’ Retirement Association is looking at expanding into international real estate for the first time.
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California Uni puts real estate on ice
UNITED STATES - The University of California Retirement Plan has put plans to increase its real estate target allocation on hold until markets turbulence and returns have calmed.
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US managers begin switch from deals to strategy
UNITED STATES - US real estate investment managers are shifting their focus away from deal-specific research to strategic portfolio analysis, more in line with their European counterparts, as a side effect of the current market uncertainty, according to the International Property Databank (IPD).
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Prupim phases sustainability push beyond the UK
UK/GLOBAL – Prupim, the real estate investment manager, is planning to expand its approach towards sustainability worldwide and address the performance of its international portfolio, with research due to start in North America next month.
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Financial stress showing on apartment complex
UNITED STATES- The Stuyvesant Town/Peter Cooper Village apartment complex in New York, which is backed financially by pension funds, is going through some financial stress.
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Mass PRIM makes additions in real estate
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has selected a new real estate consultant and added an office building to its real estate portfolio.
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Federal Capital attains $230m in first fundraising
UNITED STATES - Federal Capital Partners has closed its first commingled fund with a capital raisin of $230m (€168.5m) through FCP Fund I.
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Buchanan Street Partners to be principal investor only
UNITED STATES - Buchanan Street Partners has shifted its business to focus solely on acting as a principal investor for all of its real estate investments.
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Emerging markets real estate to feel the pinch
GLOBAL - The International Monetary Fund (IMF) has warned the real estate sector in the emerging markets will not be immune from the global credit crisis, contrary to the prediction of many analysts.
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Brazil’s FUNCEF to tackle equity fall with real estate
BRAZIL – FUNCEF, Brazil’s third-largest pension fund and one of the largest in Latin America, plans to allocate approximately BRL520m (€611m) to the fund’s real estate portfolio in a bid to diversify its assets following a huge drop on its chosen equity index
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Los Angeles City seeks a wider view
UNITED STATES - Los Angeles City Employees’ Retirement System has approved two new real estate commitments totaling $45m (€33.1m) which will see the pension fund invest in REITS and Latin America.
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Dallas Police & Fire helps fund retail venture
UNITED STATES - Dallas Police & Fire Pension System is the capital source behind a global capital relationship with its real estate manager CDK Realty Advisors and RED Development, which will invest in retail property.
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Alaska Retirement holds back from real estate
UNITED STATES - Alaska Retirement Management Board has decided not to allocate any new capital to real estate investment in fiscal 2009.
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PREA Conference presents a gloomy future
UNITED STATES – The pension fund real estate industry painted a pretty negative outlook for real estate investing at the Pension Real Estate Association’s 18th Annual Plan Sponsor Conference in Chicago last week.
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Oregon PERF moves into infrastructure
UNITED STATES - Oregon Public Employees Retirement Fund has made its first move into an infrastructure commingled fund and approved a $200m (€140.3m) commitment into the Alinda Infrastructure Fund II.
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ING Clarion takes its talent to Brazil
UNITED STATES - ING Clarion Partners is tapping its in-house investment expertise and opening a regional investment office in Brazil for the first time.
