Capital Raising News 鈥� Page 195
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Sacramento County puts manager search on hold
UNITED STATES - Sacramento County Employees鈥� Retirement System has put plans to conduct a new manager search on hold until at least the first quarter of next year.
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CBRE trust widens into UK retail
UK - The CB Richard Ellis Realty Trust has expanded its property holdings outside of the United States after purchasing a second major UK retail park.
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Grosvenor to buy a ride on the Chinese dragon
ASIA/UK 鈥� Grosvenor, the London-based group of international property investment, development and fund management businesses, has launched a $600m (鈧�468.7m) China retail fund.
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Alameda County opts out of JP Morgan commingled fund
UNITED STATES - Alameda County Employees Retirement Association has decided it wants to pull out of its commitment to JP Morgan鈥檚 Alternative Property Fund.
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Ohio PERS grabs opportunity to look beyond the value-add
UNITED STATES - Ohio Public Employees Retirement System will be shifting some of its investment capital in real estate to an opportunistic strategy in a bid to tap the little investment likely to surface over coming months.
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CalPERS reserves $400m for hotel fund
UNITED STATES - California Public Employees Retirement System has made a $400m (鈧�300.4m) commitment to the Starwood Capital Hospitality Fund II, following earlier success with an first version of Starwood鈥檚 specialist fund.
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SanFran to become selective in real estate
UNITED STATES - San Francisco City and County Employees鈥� Retirement System is slowing down its real estate decisions to match the state of the US market and will make very selective investment decisions for the rest of the year.
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California Uni puts real estate on ice
UNITED STATES - The University of California Retirement Plan has put plans to increase its real estate target allocation on hold until markets turbulence and returns have calmed.
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INREV calls for single best practice framework
GLOBAL - Fund managers and investors have been invited to consider plans to combine all eight industry guidelines established by the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) into one integrated best practice document.
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Office deal spreads EPISO assets across France
EUROPE 鈥� The European Property Investors Special Opportunities (EPISO) fund has increased its property holdings in France after purchasing a 鈧�145.6m portfolio from Credit Agricole Asset Management.
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Merrill to invest $2.65bn in Asian real estate
ASIA 鈥� Merrill Lynch has closed its Asian Real Estate Opportunities Fund after raising $2.65bn for investments despite the turbulent economic climate.
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Financial stress showing on apartment complex
UNITED STATES- The Stuyvesant Town/Peter Cooper Village apartment complex in New York, which is backed financially by pension funds, is going through some financial stress.
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Mass PRIM makes additions in real estate
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has selected a new real estate consultant and added an office building to its real estate portfolio.
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GIC to invest in debt fund worth $2.5bn
UNITED STATES - Divco West Properties and LoanCore Capital have come together to form a $2.5bn (鈧�1.8bn) investment fund which will target real estate debt opportunities at major institutional investors such as Singapore鈥檚 GIC.
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Federal Capital attains $230m in first fundraising
UNITED STATES - Federal Capital Partners has closed its first commingled fund with a capital raisin of $230m (鈧�168.5m) through FCP Fund I.
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Buchanan Street Partners to be principal investor only
UNITED STATES - Buchanan Street Partners has shifted its business to focus solely on acting as a principal investor for all of its real estate investments.
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Italian real estate held ground in H1
EUROPE 鈥� The total return of Italian pooled property funds dropped during the first half of 2008 but still managed stay in positive territory of 4.1%, according to the latest results from IPD鈥檚 Italian Pooled Property Fund study.
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Brazil鈥檚 FUNCEF to tackle equity fall with real estate
BRAZIL 鈥� FUNCEF, Brazil鈥檚 third-largest pension fund and one of the largest in Latin America, plans to allocate approximately BRL520m (鈧�611m) to the fund鈥檚 real estate portfolio in a bid to diversify its assets following a huge drop on its chosen equity index
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Dumfries reviews real estate manager and allocation
UK 鈥� Dumfries and Galloway pension fund is looking to appoint a pension fund investment manager to manage up to 拢45m (鈧�58.2m) in its UK and global property assets.
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Market pressures force fund extensions
EUROPE 鈥� Non-listed real estate funds are increasingly extending the life of their vehicles rather than liquidating them in a bid to avoid the forced sale of their assets at current low market prices, the European Association for Investors in Non-listed Real Estate Vehicles (INREV) has found.
