North American investors – Page 207
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News
Economic freeze hits Alaska’s investments
US – The Alaska Permanent Fund Corporation’s (APFC’s) real estate portfolio performed better than other assets but has still contributed to the fund’s $4.2bn (€3.2bn) drop in value in the second quarter of fiscal year 2009.
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News
AIG puts real estate house on the market
US - AIG Global Real Estate has today announced the $12.4bn (€9.4bn) fund management business has been put up for sale, as part of the American International Group’s (AIG’s) divestment programme set out at the end of last year.
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Magazine
Low light in the sunshine state
Never mind California dreamin’, the harsh reality for REITs was reflected in the sombre mood at NAREIT’s annual conference. But the meeting noted some bright lights, as Jon Peterson reports
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Magazine
Playing it safe
As the downturn bites the latest Emerging Trends survey shows increased interest in apartments and industrials as well as a move up the popularity stakes for Denver, Houston and Boston. Robert Ruggles and Chuck DiRocco report
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MagazineAll aboard the transatlantic ship
A once-in-a-lifetime opportunity or a potential minefield of uncertainty? Richard Lowe talks to both European investors and advisers on the ground about distressed opportunities in the US
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MagazineRay of light in the crisis
The very severity of the blows dealt to the US commercial real estate market by the credit crisis and the weak economy could lead to some of the best bargains in CRE investing in our lifetimes, says Michael Pralle
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Magazine
Funds apply the brakes
A reluctance to commit capital to new real estate investments today can be seen in the number of US pension funds delaying manager searches. Jon Peterson reports
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News
Maine Public Employees pushes ahead with real estate strategy
UNITED STATES - Maine Public Employees Retirement System is moving ahead with plans to grow its real estate programme, as officials will begin the search for a real estate consultant with the next six months.
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News
LACERA changes real estate benchmark
UNITED STATES - Los Angeles County Employees Retirement Association has approved a new returns benchmark for investing in real estate.
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News
Infrastructure investors to buy Puget Energy
US – Puget Holdings LLC, a group of long-term infrastructure investors which includes the Canada Pension Plan Investment Board (CPPIB), expects to buyout Puget Energy and its wholly-owned subsidiary Puget Sound Energy (PSE) by early February.
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News
Morgan Stanley reopens revised infrastructure pool
UNITED STATES – Morgan Stanley Investment Management (MSIM) has re-opened its Morgan Stanley Global Infrastructure Fund 1 to new investors in the United States, in anticipation of growing investment opportunities across the globe.
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News
Texas Teachers gets new head
US – The Teacher Retirement System of Texas (TRS) has appointed Linus Wright as the system’s new chairman, following Jim Lee’s decision to resign from the post to pursue a new business venture.
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News
San Bernardino to cash in real estate
UNITED STATES - San Bernardino County Employees Retirement Association has voted to issue redemption queues in three open-ended commingled funds amounting to $106m (€80.3m).
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News
Wisconsin extends commingled fund relations
UNITED STATES - Wisconsin State Investment Board has approved two new commitments worth €42m with existing commingled fund managers.
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News
US Reits fall over a third
UNITED STATES - Real Estate Investment Trusts lost on average 37.3% in 2008, according to the latest report by the National Association of Real Estate Investment Trusts (REITs) in the United States.
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News
Interest in US derivatives picks up
UNITED STATES – The use of property derivatives by institutional investors, including pension funds, has increased in the United States, following their losses resulting from the financial crisis, according to data analysts.
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News
PBGC moves into real estate with three ‘strategic partners’
US – The Pension Benefit Guaranty Corporation (PBGC) has selected BlackRock, Goldman Sachs and JP Morgan to mange $2.5bn (€1.9bn) in real estate and private equity assets.
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News
Rene Tremblay joins Caisse de Depot
CANADA – Caisse de dépôt et placement du Québec, manager of public pension plans in Québec, has appointed Rene Tremblay as executive vice-president of real estate.
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News
Over-exposed Alaska Retirement issues redemption queues
UNITED STATES – Alaska Retirement Management Board (ARMB) is to issue $103m (€76.3m) of redemption queues on three open-ended commingled funds as its allocation to real estate exceeds its strategic target.
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News
Illinois State Universities to capitalise on 2009 opportunities
UNITED STATES – State Universities Retirement System of Illinois has entered into the opportunistic real estate space by making a $40m (€29.4m) commitment to the Dune Real Estate Fund II.
