Capital Raising News 鈥� Page 198
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Sources confirm Tesco/USS real estate deal
UK 鈥� Sources have confirmed the 拢30bn (鈧�38bn) Universities Superannuation Scheme (USS), the second-largest pension scheme in the UK, is set to purchase a number of UK supermarket chain Tesco鈥檚 largest stores.
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AEW breaks through Asia fund capital target
UNITED STATES - AEW Capital Management has topped the original capital-raising set on its first direct real estate Asian investment commingled fund, as pension funds and investors are keen to diversify into new markets.
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Revalued property drags ING figures down
NETHERLANDS - A revaluation of its Summit portfolio in Canada was the main contributor to an 鈧�180m after-tax loss for ING鈥檚 property investments in the second quarter of this year, the Dutch bancassurer has revealed
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Quebec extends its Brazilian shopping space
CANADA/BRAZIL 鈥� Ivanhoe Investments, the real estate management subsidiary of Canada鈥檚 largest pension fund, has boosted its position in Brazil with the purchase of four shopping centres and more than doubled its stake in a local property partner.
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Schroders seeks growth on agricultural land
GLOBAL 鈥� Schroders, the asset manager, is hoping to tap into growing global demand for food production by investing in agricultural land.
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Deka鈥檚 Westinvest eyes bargains in Lithuania
LITHUANIA 鈥� Deka Immobilien, the German asset manager, has shown renewed interest in the Lithuanian retail property market despite inflation pressures on the local economy, by purchasing the Akropolis shopping centre in Vilnius.
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Ohio Police and Fire up real estate allocation by 50%
UNITED STATES - Ohio Police and Fire Pension Fund have increased its real estate allocation from 8% to 12%.
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NYSTRS provides the finance for real estate mortgages
UNITED STATES - New York State Teachers Retirement System has expanded its real estate portfolio with a commitment to several mortgaged transactions and a commingled fund.
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Ohio School Employees commits to office fund
UNITED STATES - School Employees Retirement System of Ohio has approved a commitment of $50m (鈧�32.1m) into the Beacon Capital Strategic Partners VI commingled fund.
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Contra Costa County sees a debt opportunity
UNITED STATES- Contra Costa County Employees鈥� Retirement Association has approved a $75m (鈧�48.6m) commitment into the ING Clarion Debt Opportunity Fund II 鈥� its first investment in a debt fund focused on real estate.
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PBGC eyes move into real estate
UNITED STATES 鈥� The Pension Benefit Guaranty Corporation (PBGC) is looking at investing in real estate for the first time and is therefore seeking strategic partnerships so it may allocate up to $2.5bn (鈧�1.6bn) in the sector.
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European focus shifts to air and rail operators
EUROPE 鈥� Infrastructure asset managers say new investment opportunities could be emerging for institutional investors as a flurry of new deals are expected to come to the market in the management of air and rail operators.
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Pension fund capital goes green
UNITED STATES 鈥� Pension funds in the United States are looking to make their real estate portfolios 鈥榞reener鈥� so ING Clarion Partners has rolled out a sustainable growth initiative and its first investor is Los Angeles Fire and Police Pensions.
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Los Angeles City places capital into debt fund
UNITED STATES - Los Angeles City Employees Retirement System has made a $20m (鈧�12.7m) to the Mesa West Real Estate Income Fund II, in a bid to capitalise on the supply and demand financing opportunities in the mid-size segment of the marketplace.
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Pennsylvania State moves capital into distressed fund
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $15m (鈧�9.5m) into Arden Real Estate Fund I - a distressed real estate fund.
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ING Clarion closes in on value-added space
UNITED STATES - ING Clarion Partners continues with its value-added strategy for some of its capital sources with the closing of $166m (鈧�105.4m) worth of transactions.
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LPFA commits to ING鈥檚 global real estate FoF
UK - The London Pension Fund Authority has committed 拢150m (鈧�190m) of capital to a new global property fund of funds (FoF) launched this week by ING Real Estate Select.
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Consortium completes German HighStreet purchase
GERMANY 鈥� A consortium comprising of RREEF Alternative Investments, the Borletti Group, the Generali Group, and Pirelli RE today announced it has completed the acquisition of a 49% stake in 鈥淗ighstreet鈥�, the investment company owning the majority of Karstadt鈥檚 German department store premises.
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F&C merges to expand
GLOBAL - Investors in fund manager F&C have backed a deal with property firm REIT that will give the UK-focused fund manager exposure to continental Europe and the nascent Indian market.
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Small pension funds re-enter property
UNITED STATES - Several smaller pension funds in the United States are thought to be looking to re-enter the real estate asset class, in a bid to diversify their portfolios.
