ΒιΆΉΣ³» on Capital Raising β Page 230
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Core gains momentum in State of Connecticut
UNITED STATES - State of Connecticut Trust Funds has added to its core real estate portfolio by making a $75m (β¬51.2m) commitment to the Cornerstone Patriot Fund.
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Danish pensions eye local infrastructure
DENMARK β DANISH pension funds say they would welcome to chance to invest in infrastructure projects which could be opened by the government for public-private partnerships (PPPs), ahead of a report from the Infrastructure Commission.
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ING gets keys to ABP property
NETHERLANDS β Dutch pension fund giant ABP has signed the biggest real estate deal The Netherlands to date, and is transferring the assets of its β¬1.6bn KFN non-listed real estate investment trust to ING Real Estate.
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PMT sells Paris office
FRANCE - Dutch metalworkersβ union Pensioenfonds Metaal en Techniek (PMT) has sold its 30% share of Le Balzac, a Paris office block, to Corio, the property firm 36.6% owned by the β¬215bn ABP.
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Indiana moves into real estate
UNITED STATES - Indiana Public Employees Retirement Fund has approved $300m (β¬205.7m) worth of real estate investments as it moves into the asset class for the first time.
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Ohio PERS expands REIT investment program
UNITED STATES - Ohio Public Employees Retirement System has expanded the Reit investment program of its healthcare fund by 1% to 6%.
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US pension funds putting capital in core strategy
UNITED STATES - Pension funds in the United States are still choosing to invest in core strategy real estate, despite evidence over recent months suggesting many funds are turning to wider diversification.
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Mass PRIM hires global REIT managers
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has selected European Investors and RREEF manage global REIT mandates with initial investment of $100m (β¬68.9m).
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Oregon PERF investment sees new forays
UNITED STATES - Oregon Public Employees Retirement Fund has agreed to invest $150m (β¬102.6m) into commingled funds focused on Asia and urban strategies.
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CalSTRS and Waterson seek apartment viewings
UNITED STATES - California State Teachers Retirement System and Waterton Associates have created a new apartment investment fund, to tap into what they anticipate will be a shift in the sector.
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Illinois Teachers allocates office space
UNITED STATES - Teacher Retirement System of the State of Illinois has approved two real estate investments totaling $187.5m (β¬127.4m) which contribute to the acquisition of office space.
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Entity level investing attracts more pension fund capital
UNITED STATES β US pension funds are showing increased interest in moving capital to commingled funds that make entity-level investments, as two major funds have invested in funds holding direct property.
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Real estate sought through ΒιΆΉΣ³»-Quest mandate
SWITZERLAND β A search has been launched for an investment manager to look after a β¬10m European real estate mandate, using ΒιΆΉΣ³» Quest.
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Henderson shorts inside global real estate
EUROPE - Henderson Global Investors has launched a property equities fund with the capability to take long and short positions on real estate listed stocks.
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Smaller schemes opt for Asian fund-of-funds
EUROPE - The European Association for Investors in Non-Listed Real Estate Vehicles (INREV) has launched a directory of 36 unlisted funds of property funds to meet demand from smaller pension funds and niche-hungry major funds.
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NYSTRS turns $525m to non-core investing
UNITED STATES - New York State Teachers Retirement System is looking at investing up to $525m (β¬356m) in non-core real state through commingled funds and a separate account.
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MacFarlane raises $1bn for urban investment
UNITED STATES - MacFarlane Partners has raised $1bn (β¬683.6m) for Urban Real Estate Fund II, making this one of the largest urban commingled funds ever to be created in the United States.
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Ohio School Employees places capital into non-core property
UNITED STATES - School Employees Retirement System of Ohio has approved commitments totaling $100m (β¬67.2m) into two non-core commingled funds, as its investment strategy for 2008 is to ignore the core real estate market.
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Duopoly to define logistics fund market
EUROPE - The European logistics market will diverge into βblockbusterβ and βnicheβ funds, with specialist nous and tenant relationships determining asset managersβ survival in a shaken-out market, claims Peter Davies, fund director of the Goodman European Logistics Fund (GELF).
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Reits design described as βwrongβ
GLOBAL - European Reits are being formulated to appeal to the βwrong audienceβ, according to Europroperty Consulting.
