Top Stories – Page 1052
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San Bernardino County expands into global REITs
GLOBAL – The San Bernardino County Employees Retirement Association has approved a recommendation to allocate 20% of its real estate portfolio to public REITs, amounting to approximately $75m (€58.4m).
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LACERA issues RFI for real estate debt managers
GLOBAL – The Los Angeles County Employees Retirement Association has approved a Request for Information (RFI) for managers interested in participating in a search for real estate debt strategies.
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Stakes raised in Henderson PFI dispute as legal advisers sacked
UK – The stakes in the legal dispute between Henderson Global Investors and a group of 30 pension funds have been raised on news that Henderson has replaced its legal advisers, CMS Cameron McKenna, with Clifford Chance.
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German pension fund to invest €400m in Europe through iii-Investments
GERMANY – iii-Investments has been chosen to manage a new €400m closed-end pan-European real estate fund for a German pension fund.
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AREF creates investor committee to be chaired by Nick Cooper
UK – Nick Cooper, principal of The Townsend Group, is to chair a new investor committee set up by the Association of Real Estate Funds (AREF).
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Hermes' Evans joins IPD for global expansion
UK – Alasdair Evans is leaving Hermes Real Estate, where he was chief operating officer, to join Investment Property Databank (IPD) as group finance director.
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UK roundup: Greater Manchester Pension Fund, GVA Grimley, British Property Federation, Oaktree
UK – The UK government has rejected proposals to help attract institutional investment in residential property despite growing interest in the sector.
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ING REIM bets on Americas for high returns
GLOBAL – ING Real Estate Investment Management (ING REIM) has predicted that the highest unleveraged returns from commercial real estate over the next five years will come from markets in the Americas.
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INREV: Investors re-shaping fund management industry
EUROPE – The non-listed real estate fund industry in Europe is collectively paying the price for the use of excessive leverage by a minority of fund managers, according to a report by the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
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Invesco fund shows German appetite for UK property remains strong
EUROPE – Invesco Real Estate has raised €75m from four German institutional investors, enabling it to make a first closing for its latest UK real estate fund.
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Allianz plans to double real estate portfolio to €30bn
GERMANY – Allianz Real Estate is aiming to sell €1bn in small and secondary assets in Germany within 18 months as part of its ongoing project to double its portfolio to €30bn.
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Ohio Police and Fire Pension Fund to issue redemption queues
GLOBAL – The Ohio Police and Fire Pension Fund has begun the process of filing redemption queue requests for two of its commingled funds.
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Virginia invests $425m into real estate portfolio
GLOBAL – The Virginia Retirement System has added $425m (€330m) worth of real estate investments to its portfolio through two deals.
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Monday people roundup
GLOBAL – Schroders, ING Real Estate Investment Management, ING Investment Management, Matrix
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German Spezialfond looks to invest in Belgium, France
GERMANY – HypoVereinsbank's real estate investment subsidy iii-Investment has launched a new Spezialfond, aiming to raise €400m worth of capital.
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Unlisted fund market surging in Asia, says ANREV
GLOBAL – ANREV, the association for the Asian real estate funds industry, has estimated the aggregated gross asset value (GAV) of Asian non-listed funds has reached $130bn (€101bn).
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Multi-manager ING RE Select to deploy €500m in US, Asia
GLOBAL – European institutional investors have committed close to €500m this year to US and Asian real estate through ING Real Estate's multi-manager investment business.
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Dutch real estate survey highlights investor 'sophistication'
NETHERLANDS – The latest Investor Universe Netherlands survey shows the Dutch institutional real estate market is large, sophisticated and with considerable overseas exposure.
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Hermes Fund Managers appoints real estate head after two-year search
UK – Hermes Fund Managers has appointed Chris Taylor as chief executive of Hermes Real Estate Investment Management.
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MGPA's opportunity fund targets €200m of German retail
GERMANY – MGPA's European opportunistic real estate fund has acquired 140 ALDI SÜD stores in Germany as it seeks to deploy close to €200m of capital in the country's retail sector over the next six months.
