North American investors – Page 201
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News
Pramerica to target Mexican pension funds
UNITED STATES- Pramerica Real Estate Investors is creating a commingled investment fund which for the first time will encourage only Mexican pension funds to invest.
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News
SanFran CCERS moves assets from bankrupt Capmark
UNITED STATES – The San Francisco City and County Employees’ Retirement System is transferring the assets held in a separate account managed by Capmark Real Estate Equity Group following the asset manager’s bankruptcy.
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Ohio PERS extends another $600m to core real estate
UNITED STATES - Ohio Public Employees Retirement System has approved new commitments totaling $600m (€412.4m) into the core open-ended JP Morgan Strategic Property and the UBS Trumbull Property funds.
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News
CPPIB shops for San Diego retail
UNITED STATES – The Canada Pension Plan Investment Board (CPPIB) has completed its first ever joint venture with Donahue Schriber on a retail property in San Diego.
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Pension funds consider shift back into property
EUROPE – European and North American pension funds are planning to increase investments in real estate over the coming year and the majority of schemes are reviewing external managers, an asset allocation survey has suggested.
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News
San Mateo County to stay with open-ended fund
UNITED STATES - San Mateo County Employees Retirement Association has rescinded a $70m (€48.5m) capital redemption order for the Invesco Core Real Estate Fund as the value of its overall investment portfolio has improved significantly over the past couple of years and officials no longer feel the need to withdraw ...
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News
Ohio Police & Fire places blind faith in LaSalle
UNITED STATES - Ohio Police & Fire Pension Fund is hoping to tap real estate opportunities as the market improves and made a $60m (€41.6m) allocation to the LaSalle US Property blind pool investment fund.
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Wisconsin turns to real estate fund of funds
UNITED STATES - Wisconsin State Investment Board has made a $27.5m (€18.8m) investment in the Core Plus Real Estate Fund Q, which is structured by the pension fund as a convertible preferred equity investment.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
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MagazineThe gap is closing
Recent evidence on property prices and market liquidity along with developments in the broader capital market suggest prices are firming and buyer valuations are increasing, say Jim Clayton and Michael Gately
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News
CalPERS considers real estate clearout
US – California Public Employees’ Retirement System (CalPERS) has, or in is in the process of, sacking a number of real estate managers, according to a report from its advisers Pension Consulting Alliance (PCA).
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News
LA Fire and Police raise concerns over real estate performance
UNITED STATES- Los Angeles Fire and Police Pensions has placed Heitman Capital, Sentinel Real Estate and Urdang Capital on watch after underperforming the pension fund’s benchmark.
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Magazine
Thaw begins
Expectations of buyers and sellers are narrowing as the region approaches the bottom of the cycle. Lynn Strongin Dodds reports
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Magazine
Canada’s stable footing
Canada’s prudent approach has helped it weather the downturn better than its southern neighbour and makes it a good fit for current investor sentiment. But it is not immune to surprises, as Stephanie Schwartz-Driver reports
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News
CalSTRS’ real estate falls another $327m
UNITED STATES - The California State Teachers Retirement System saw the value of its real estate portfolio fall by another $327m (€217m) during the third quarter of 2009, confirming the difficult market conditions that US pension funds are still suffering.
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News
Florida pension fund dips into real estate
UNITED STATES – The City of Lakeland (Florida) Employees’ Pension and Retirement System is planning to invest in real estate for the first time.
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News
CalPERS signs to infrastructure with long-term view
UNITED STATES - California Public Employees Retirement System has made a commitment of $300m (€201m) to Alinda Capital Partners’s Infrastructure Fund II, even though the value of its earlier investments have yet to reach their original capital value.
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News
SanFran C&C switches CMBS managers
UNITED STATES - San Francisco City and County Employees’ Retirement System has fired Brookfield Investment Management as one of its high-yield commercial mortgage-backed security managers, and handed the account to its other existing high-yield CMBS manager, Pyramis Global Advisors.
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News
Orange County targets core and debt strategies
UNITED STATES - Orange County Employees Retirement System and its consultant, Callan Associates, have determined that core and distressed debt opportunities will offer the most compelling investment possibilities in the near future real estate market.
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News
US pension funds warned of prolonged property dislocation
US – There are concerns in the US that pension fund allocations to real estate could suffer as a result of prolonged dislocation and modest performance in the coming years, the latest report by PricewaterhouseCoopers and ULI has revealed.
