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Florida assigns $1.588 billion to 13 managers
trueFlorida State Board of Administration committed a total of $1.588 billion to 13 managers representing 15 limited partnerships.
El Paso City Employees adds global REIT manager
trueEl Paso (Texas) City Employees’ Pension Fund hired Principal Real Estate Investors to manage a roughly $7.5 million global REIT strategy.
Illinois Municipal scouts for manager of emerging real estate managers
trueIllinois Municipal Retirement Fund is searching for a manager of emerging real estate managers to run at least $75 million.
Active money managers feel pressure to adjust fees
trueActive money managers that pride themselves on adding value to portfolios increasingly are under fire to justify the fees they charge, and some have realized a refusal to budge will see them increasingly bypassed by investors.
Timberland returns cut down in second quarter
trueThe NCREIF Timberland index returned 0.51% in the second quarter, its lowest quarterly return since the first quarter of 2012. It was also the lowest second-quarter return since 2002.
Faber likes cash, says real estate and emerging markets equities to outperform
trueMarc Faber railed against central bank intervention around the globe and said he likes cash now because it “gives you flexibility to buy assets” when bubbles pop.
Texas Permanent sticks with NEPC, makes commitment to European real estate fund
trueTexas State Board of Education approved rehiring NEPC as the investment consultant of the $29.9 billion Texas Permanent School Fund, which it oversees.
JPMAM recruits real estate specialist for Asia-Pacific
trueAdam Pillay was named executive director and real estate Asia-Pacific platform specialist at J.P. Morgan Asset Management.
Farmland posts lowest quarterly return since 2010
trueThe NCREIF Farmland index returned 1.16% in the second quarter, composed of 0.53% appreciation and 0.64% income return. It is the lowest quarterly return since the third quarter of 2010 when the index returned 1.03%.
British Columbia Investment Management return surpasses benchmark for year
trueBritish Columbia Investment Management Corp., Victoria, returned 14.2% on its investments net of costs for the year ended March 31, beating the 12.6% custom benchmark, it announced in a statement Thursday.
Aberdeen names new head of real estate unit for the U.K.
trueSimon Moscow was appointed head of asset management for the U.K., and Stephen Walker was named deputy head of asset management for the U.K. within Aberdeen Asset Management’s property division.
State-Boston Retirement System seeks closed-end real estate funds
trueState-Boston Retirement System is soliciting proposals from real estate investment management firms to run approximately $30 million.
Real estate investors warming to secondary market
trueThe secondary market for real estate investments, which grew 30% in 2014 after years of being nearly dormant, is poised to grow 45% this year to up to $7 billion, observers say.
Starwood brings back former asset management head to lead capital raising
trueJohn McCarthy was named managing director, global capital raising, at real estate money manager Starwood Capital Group.
Hartford Municipal chooses Loomis Sayles for unconstrained bonds, commits to 3 funds
trueHartford (Conn.) Municipal Employees' Retirement Fund, hired Loomis Sayles to manage $50 million in its strategic alpha strategy in unconstrained fixed income.