Capital Raising News 鈥� Page 187
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Aviva to invest 拢1bn in UK rental housing
UK 鈥� Aviva Investors is intending to launch a real estate fund aimed at pension funds and institutional investors that will invest in UK residential assets.
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AIFM could bring less fund choice, claims law firm
EUROPE 鈥� A Paris-headquartered law firm has warned current proposals for the Alternative Investment Fund Managers (AIFM) Directive could lead to a lack of choice of funds in the future unless European officials can work with US and international counterparts to improve regulatory terms on alternative investments.
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Sarasin launches new green listed fund
GLOBAL 鈥� Sarasin has launched what it claims to be the world鈥檚 first fund to specialise in investing in sustainable real estate companies.
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Schroders calls for fund structure standardisation
GLOBAL - Greater standardisation of the way funds are structured could deliver significant savings for investors, suggests William Hill, head of property at Schroders.
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Ohio Police and Fire鈥檚 real estate keeps falling
UNITED STATES 鈥� The value of real estate portfolios for US pension funds is still declining as Ohio Police and Fire pension fund has revealed as its real estate assets dropped in value from $1.01bn (鈧�713.9m euros) at the end of 2008 to $784m by the end of the first ...
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New York Common invests in UK underperformers
UNITED STATES - New York State Common Retirement Fund has made a $30m (鈧�21.3m) commitment to the Mountgrange Real Estate Opportunity Fund I in a bid to further diversify into European real estate.
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London property attracts overseas interest
UK - Investment in London commercial property has risen for the first time since the second half of 2007, according to new figures from Cushman & Wakefield.
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Real estate dominates alternative assets in pensions
GLOBAL 鈥� Real estate investments still make up over half of the alternative assets managed by external managers on behalf of pension funds, and despite the economic downturn, suggests a study conducted by Watson Wyatt.
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Hercules receives backing from pensions giant
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has injected 拢100m (鈧�118m) into the Hercules Unit Trust (HUT), a UK retail warehouse fund run by British Land and Schroders, which is in the process of restructuring its 拢800m debt facility.
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RREEF weigh ups its options over America III
UNITED STATES 鈥� RREEF, the real estate investment division of Deutsche Bank, is now considering three different options to help it deal with some debt issues for its open-ended commingled fund, RREEF America III.
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Maine PERS selects ORG as real estate consultant
UNITED STATES - Maine Public Employees Retirement System has selected ORG Real Property as its first ever real estate consultant.
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Tesco makes second property pledge to pension
UK 鈥� Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth 拢458m.
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Progress continues on real estate sale
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has sold three housing complexes in Breda, Groningen and Nijmegen as it continues to divest its directly-held domestic real estate portfolio.
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Mass PRIM fires REIT manager
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has terminated its separate account REIT manager relationship with Wellington Management in part on the back of poor performance and awarded a new $40m (鈧�28.6m) allocation to the AFL-CIO Housing Investment Trust Fund.
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ATP trains its eye to 'club鈥� investments
DENMARK 鈥� ATP Real Estate still has 鈧�300m of outstanding equity to put into the non-listed real estate markets, but has moved its focus away from large commingled funds to club deals with like-minded investors.
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Kansas PERS expands into infrastructure
UNITED STATES - Kansas Public Employees Retirement System has made its first ever investment in infrastructure with a $50m (鈧�35.2m) commitment into the Brookfield Americas Infrastructure Fund.
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And the winners of the IPE Real Estate Awards 2009 are鈥�
EUROPE - 脛rzteversorgung Westfalen-Lippe was crowned Best European Institutional Investor last night at a glittering event in Amsterdam to celebrate this year鈥檚 IPE Real Estate Awards 2009.
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UK property sees resurgence of interest
UK 鈥� Henderson Global Investors is the latest in a succession of managers to launch or close funds in the last two weeks targeting UK real estate.
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Wellcome Trust raises the bar on property
GLOBAL - The Wellcome Trust will exercise extreme caution before making any new investments in real estate because of the unattractiveness of property relative to other asset classes and concerns about alignment of interest, according to its CIO Peter Pereira-Gray.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
