All Real Assets articles in October 2007 (Online) – Page 2
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NewsLVAM in drive to grow institutional business
UK – LV Asset Management (LVAM), the asset management arm of UK’s largest friendly society, has announced ambitious plans to expand its fund management arm with 12 new funds and the development of a multi-manager capability, targeted at institutional and retail investors.
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NewsUK government to invest €2.4bn in infrastructure
UK - The UK government is to plough £1.7bn (€2.4bn) into boosting infrastructure for planned ‘new’ towns and growth areas over the next three years.
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NewsBär taps into thirst for infrastructure
SWITZERLAND - A fund jointly launched by Macquarie and Julius Bär, the private bank, is targeting European pension fund investors with a global infrastructure fund focused primarily on energy and utilities.
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NewsCredit crunch creates PE buyers’ market
GLOBAL - Excess capital accumulated by US real estate private equity funds in the first half of 2007 will help them mop up in a downward-valued market, according to an Ernst & Young report on real estate private equity funds.
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NewsStrategies switched amid lower Romanian returns
ROMANIA - Charlemagne Capital’s €110.5m sale of three Romanian property assets last week indicates a significant shift in that market, according to investors.
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NewsING real estate wins £100m Welsh mandate
UK – The GBP1.3bn (€1.9bn) Rhondda Cynon Taf council pension fund has awarded a £100m UK property mandate, with possible exposure to other European markets, to ING Real Estate Investment Management.
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NewsState of Alaska branches out into timber
UNITED STATES - Alaska Retirement Management Board has expanded into timberland for the first time with a $200m (€142.5m) allocation.
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NewsCPP Investment Board buys Denver office space
UNITED STATES - CPP Investment Board has made its first acquisition in the Denver office market through a joint venture with Callahan Capital Partners.
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NewsSelect-service hotels hit Warburg Pincus’ radar
United States - Warburg Pincus Real Estate Fund I and Triyar Hospitality have formed a joint venture to develop and acquire ‘select-service’ hotels.
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NewsMass PRIM abandons small cap REITs
UNITED STATES – Massachusetts’ Pension Reserves Investment Management Board has decided to drop a small cap investment mandate for its publicly-traded real estate securities program in the United States.
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NewsTexas Teachers to approve $800m in real estate
UNITED STATES- Teacher Retirement System of Texas is in the process of approving $800m ($568m euros) in new real estate commingled fund investments.
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NewsBT pension fund to sell £240m portfolio
UK – Hermes Real Estate has placed 10 property vehicles on the market, in the hope of generating £240m (€346m) for the BT Pension Scheme.
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NewsFolksam PFs in pilot pooling venture
SWEDEN - Swedish insurance group Folksam has set up the first bespoke property pooling structure designed for separate pension funds within the same group.
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NewsSBB sells 9,800m2 to fund pensions
SWITZERLAND - The Swiss federal railways SBB has sold another one of its real estate holdings under its funding promise to the SBB pension fund.
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NewsHotels lose clients but grow revenues
UK - Despite flattening occupancy rates, UK hotel revenues will increase by 6.2% in 2007—8, according to a report published by PricewaterhouseCoopers.
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NewsUnite transfers UK student assets
UK - Student accommodation developer Unite has sold assets in Glasgow, Leeds and Bristol to its Unite UK student accommodation fund for £81.8m (€118m) in cash.
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NewsAustrian prices ‘good for two more years’
AUSTRIA - Recovering office across European markets still offers yields as a sector no longer available in retail and industrial, according to property firm Matrix.
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NewsStunted supply boosts European retail
EUROPE - European pension funds are on a regional shopping spree motivated by a limited supply of new assets in low-risk markets, according to Aberdeen fund manager Nico Tates.
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NewsOhio Police & Fire sells separates
UNITED STATES - Ohio Police & Fire Pension Fund has voted to approve the transfer of seven separate account assets and move them into a commingled fund.
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NewsPennsylvania spends €200m in Europe
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has increased its exposure to European real estate by committing a total of €200m to two commingled funds.
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