Capital Raising News 鈥� Page 174
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New Jersey returns to real estate after two-year hiatus
GLOBAL 鈥� The New Jersey Division of Investment has made its first investment in real estate since June of 2008 with a $100m (鈧�74.4m) allocation to the Lubert-Adler Real Estate Fund VI-B.
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Washington State allocates $500m to Evergreen Real Estate Partners
GLOBAL 鈥� The Washington State Investment Board has approved a follow-on investment of $500m (鈧�366.1m) into Evergreen Real Estate Partners.
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Pension funds mop up Finnish property sale
EUROPE 鈥� Finnish pension funds Ilmarinen and Varma have mopped up shares in partly state-owned property firm Sponda following the sale by state investment firm Solidium Oy of shares worth 鈧�176m.
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Texas Teachers-backed apartment fund makes first investments in two years
GLOBAL 鈥� The Camden Multifamily Value Add fund, 80% owned by the Teacher Retirement System of Texas, has closed on its first two apartment deals in more than two years.
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Blended real estate portfolios perform best, says NAREIT
GLOBAL 鈥� A blended real estate portfolio that combines REITs and private equity real estate with core holdings outperformed portfolios that contained either REITs or private equity real estate funds alone, according to a study by the National Association of Real Estate Investment Trusts (NAREIT).
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Sampension to return to property market with first US investment
GLOBAL 鈥� Sampension, which manages three Danish labour-market pension funds, is to return to active property investing next year for the first time since 2008.
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脝RIUM targets France for first opportunistic strategy
FRANCE 鈥� 脝RIUM is seeking to raise 鈧�50-60m in third-party equity to invest in prime retail real estate opportunities in France.
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Real estate portfolio at CalPERS appreciates by 13.5%
GLOBAL 鈥� The value of the California Public Employees Retirement System's real estate portfolio to the end of June has increased by $171m (鈧�125m), or 1.1%, from the previous quarter and by more than $1.8bn (13.5%) year on year.
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Investors flock to DIC Asset's German office fund
GERMANY 鈥� DIC Asset has secured more than three-quarters of the 鈧�117m capital raising target for its inaugural special investment fund.
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Germany's BVK sells Paris office after 10 years of ownership
EUROPE 鈥� German pension fund Bayerische Versorgungskammer (BVK) has sold a Paris office building that it has owned for 10 years.
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Texas Employees commits $60m to value-added fund
GLOBAL 鈥� The Employees Retirement System of Texas has made a $60m (鈧�43m) commitment to the Madison International Real Estate Liquidity Fund IV.
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VastNed Retail builds up Turkish portfolio to 鈧�90m
TURKEY 鈥� Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to 鈧�90m.
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Deutsche Bank's RREEF buys industrial portfolio in US Pacific Northwest
GLOBAL 鈥� RREEF, the real estate investment management business of Deutsche Bank's Asset Management division, has acquired the 940,654 square foot Kent Valley Industrial Portfolio in Kent and Tukwila, Washington.
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Texas Teachers-backed property fund makes first investment
GLOBAL 鈥� An office building investment fund backed by the Teacher Retirement System of Texas has completed its first investment.
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Norway's Pension Fund Global Fund makes first foray into real estate
EUROPE 鈥� Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London.
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Ignis launches separate real estate arm, appoints Hutcheson as MD
UK 鈥� Ignis Asset Management has launched a standalone real estate business following inflows of more than 拢800m (鈧�923m) into its existing property funds in 2010.
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CPPIB, LaSalle join forces on German shopping centre
GLOBAL 鈥� DEGI Europa, the open-ended real estate fund in the process of liquidating its assets, has sold a shopping centre in Germany for 鈧�157.3m to the Canada Pension Plan Investment Board (CPPIB) and LaSalle Investment Management.
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APG joins group aiming to take over ING's 鈧�850m industrial portfolio
GLOBAL 鈥� Algemene Pensioen Groep (APG) is one of a number major global investors 鈥� also believed to include Canada Pension Plan Investment Board (CPPIB) and China Investment Corporation (CIC) 鈥� seeking to acquire a A$1.2bn (鈧�846m) industrial portfolio from ING Real Estate Investment Management.
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Maine approves $75m allocation to debt fund
GLOBAL 鈥� The Maine Public Employees Retirement System has approved a $75m (鈧�54m) commitment to the Prima Mortgage Investment Trust (PMIT), aiming to take advantage of a lack of debt players in the market.
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Illinois Municipal hires Cornerstone, INVESCO for core strategy
GLOBAL 鈥� The Illinois Municipal Retirement Fund has hired Cornerstone Real Estate Advisers and INVESCO Real Estate as core open-ended commingled fund managers.
