All Investment Vehicles articles – Page 294
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Dutch transport funds team up to buy real estate
NETHERLANDS – The €12bn Dutch railway pension fund (SPF) and the €2bn public transport pension fund (SPOV) have, together with Generali Real Estate, bought an €80m Dutch shopping centre project.
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Morgan Stanley to invest $4bn in infrastructure
UNITED STATES - Morgan Stanley has raised two-thirds more than originally intended for its global commingled fund, known as Morgan Stanley Infrastructure Partners, as investor demand created fund flows worth a total $4bn (€2.56bn).
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Finnish fund in quest for UK real estate
FINLAND – A Finnish pension fund is looking for managers for a £150m (€189.5m) UK real estate mandate, using IPE Quest.
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JPMorgan raises $600m for China fund
UNITED STATES - JPMorgan Asset Management raised in excess of $600m (€380.6m) for its latest commingled fund, the JPMorgan Greater China Property Fund.
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Illinois Municipal sees value in adding funds
UNITED STATES - Illinois Municipal Retirement Fund is moving $150m (€95.1m) of assets into value-added commingled funds.
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Europeans escape US in Asia
ASIA - Pension funds are increasing their exposure to Asian property in a bid to escape the US-led economic downturn.
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New York Common looks at urban space
UNITED STATES - New York Common Retirement Fund has made a $285m (€182.1m) commitment to the JP Morgan Star Lake Fund I, which invests in urban real estate across the major US metropolitan markets.
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Louisiana Teachers places $125m in “real assets”
UNITED STATES- Teachers’ Retirement System of Louisiana has placed $125m (€80.2m) into new real estate investments, as part of its unique view of real estate investing.
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Los Angeles City eyes €200m for real estate value
UNITED STATES - Los Angeles City Employees’ Retirement System has decided to allocate $200m (€127m) to $220m into real estate as part of its real estate annual plan for 2008.
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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Outgoing Clwyd adviser rewarded for real estate success
EUROPE – Clwyd pension fund’s independent adviser is leaving his role on a high note next month as the Welsh local authority fund was crowned the king of IPE Real Estate’s Awards in Berlin yesterday, winning four awards including Best European Institutional Investor.
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LGPI allocates €75m to Asian property
FINLAND – The Finnish Local Government Pensions Institution (LGPI)has invested $75m (€48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
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Investors demand 'co-investment' as standard
GLOBAL - Pension funds want fund managers to take a long-term stake in their own funds as a sign of confidence in their own products, according to Will Rowson, chief investment officer at ING Real Estate.
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Finnish VER to boost alternatives
FINLAND – The €11.53bn Finnish first pillar Valtion Eläkerahasto (VER) pension scheme, is planning to increase its exposure to alternative investments to 10%.
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Property corporate governance ‘varied’
EUROPE - An EPRA study has shown there is no pan-European pattern in corporate governance across property firms – though the mean scraped a pass, scoring 9.73 out of 16.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has approved $925m (€598.8m) into new real estate investments through a variety of non-core commingled funds.
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Waterton moves into hotel
UNITED STATES - Waterton Associates is set to create a hotel investment fund for the first time in the company’s history.
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LA Fire and Police survey property risks
UNITED STATES - Los Angeles Fire and Police Pensions are considering investing as much as $300m (€194.1m) in real estate this year as part of its 2008 investment plan.
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Bank of Finland scheme awards real estate mandate
FINLAND – Suomen Pankki, the Bank of Finland Pension Fund, has awarded Aberdeen Property Investors a real estate mandate valued at approximately €10m.
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Sponda sticks with Russia despite Finnish optimism
RUSSIA – Sponda’s chief executive Kari Inkinen said the Finnish property firm was on course for its planned Russian expansion despite a fall in interim profits from the same period last year.