Capital Raising News 鈥� Page 179
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And the winners of the IPE Real Estate Awards 2010 are鈥�
EUROPE 鈥� 脛rzteversorgung Westfalen-Lippe (AeVWL) was crowned Best European Institutional Investor last night at a glittering event in Amsterdam to celebrate this year鈥檚 IPE Real Estate Awards 2010.
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LPFA could start wave of investment in UK housing
UK 鈥� The 拢3.5bn (鈧�4bn) London Pension Fund Authority (LPFA) could be the first in a number of UK pension funds investing in the residential real estate sector.
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Texas Teachers to target core US real estate through Lionstone
UNITED STATES 鈥� Teacher Retirement System of Texas has formed Lionstone Cash Flow Real Estate Partners One, a fund managed by Houston-based The Lionstone Group.
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Canada Pension Plan steps up global spending spree
GLOBAL 鈥� Canada Pension Plan Investment Board (CPPIB) has made its first ever investment in Manhattan through a joint venture with SL Green Realty Corporation, and established an Australian real estate development fund with Goodman Group.
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Oregon signs up to Vornado value-add club fund
UNITED STATES 鈥� Oregon Public Employees Retirement Fund has approved a $100m (鈧�78.7m) commitment to the Vornado Capital Partners investment fund.
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German nursing home fund targets smaller pension investors
GERMANY 鈥� Small pension funds from outside Germany will invest in a fund dedicated to German nursing homes, according to fund manager Felix von Braun, a former managing director of Savills.
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Macro drives Euro growth as UK confidence boosts non-listed funds
EUROPE - Broad recovery in European property markets raises the prospect that markets such as Denmark and the Netherlands could escape the cyclical downturn altogether.
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Chinese investors buy back residential after pricing policy move
CHINA - A group of Chinese investors has acquired a prime serviced residential block in Shanghai from SEB Asset Management (SEBAM)鈥檚 Asian property SICAV 鈥� the latest deal in a trend for Asian investors to replace capital from European and US pension funds.
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Premature redemptions point to nervous German investors
GERMANY 鈥� Redemptions in open-ended real estate funds, sparked by a German ministerial report proposing a 10% cut in property valuations, have caused some managers to re-freeze funds. But fund managers have blamed the latest spate of redemptions on market nervousness rather than a sensible reaction to talk of reform.
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Maine PERS to ramp up real estate exposure in 2010
UNITED STATES - Maine Public Employees Retirement System is planning to invest between $100m (鈧�76.5m) and $200m in real estate in 2010.
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Pension funds and IVG co-invest in green fund
EUROPE 鈥� Four unnamed pension funds 鈥� three German, one Austrian 鈥� have each invested 鈧�33m in a 鈧�300m sustainable office fund.
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Half of real estate funds 鈥榳ill bleed to death鈥�
GLOBAL - As many as 50% of fund managers will go out of business in an industry shakeout that still has far to go, according to Claude Ang茅loz of the Swiss-based Partners Group.
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San Antonio raises allocation and eyes new funds
UNITED STATES - San Antonio Fire and Police Pension Fund has increased its strategic asset allocation to real estate by four percentage points, giving it $95m (鈧�71.4m) in new spending power.
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Henderson re-opens pan-European fund
EUROPE 鈥� Henderson Global Investors will this week reopen its 鈧�405m institutional pan-European real estate fund of funds after 76% of investors agreed to revoke their redemptions.
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INREV index posts recovery figures: UK leads
EUROPE 鈥� European non-listed funds returned a negative -7.8% in 2009, compared with -19.8% the previous year, according to the INREV Index of 258 funds representing assets worth 鈧�132.7bn.
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ING REIM steps in to rescue Creed fund
ASIA 鈥� ING Real Estate Investment Management has taken over as general partner (GP) at an Asian real estate fund for the second time in 12 months.
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Non-listed real estate funds see capital raising fall by 60%
EUROPE 鈥� The volume of capital raised through European non-listed real estate funds fell by 60% in 2009, according to the European Association for Investors in Non-listed Real Estate (INREV).
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Tennessee Consolidated nears real estate commingled holdings
UNITED STATES - Tennessee Consolidated Retirement System is getting close to making new investments in two core open-ended commingled funds, in a bid to gain diversification into office and retail real estate.
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Texas Teachers seeks value in UK property
UNITED STATES - Teacher Retirement System of Texas has agreed to invest approximately 拢81m (鈧�93.7m) or $125m into the UK-focused Brockton Capital Fund II.
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Ash cloud forces INREV to cancel Venice conference
EUROPE 鈥� INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has been forced to cancel its annual conference, which was scheduled to take place later this week.
