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Texas Muni taps 2 for international equities commits $307 million to real estate
trueTexas Municipal Retirement System, Austin, hired Acadian Asset Management and William Blair & Co. to run $175 million each in international emerging markets equity strategies.
U.S. REITs with the highest price-to-FFO ratios
trueThe current average price-to-funds from operations ratio of firms in the MSCI U.S. REIT index is 17.7, slightly higher than the long-run average of 15.7.
Prudential adds real estate portfolio manager in realignment
trueJames Glen joined Prudential Real Estate Investors as a principal and portfolio manager for its core U.S. real estate fund.
Los Angeles City Employees lines up new real estate commitments
trueLos Angeles City Employees’ Retirement System plans to commit $140 million to four new open-end core real estate funds this year and make $50 million in additional commitments in 2015, minutes from the pension fund’s Aug. 26 board meeting show.
CalPERS adds $1.3 billion to 3 real estate partnerships
trueCalPERS committed an additional $1.3 billion total to three real estate partnerships, said agenda materials for the investment committee's meeting on Monday.
Harrison Street taps senior housing
trueHarrison Street Real Estate Capital LLC last monthAugust snapped up a senior housing portfolio, in part, with capital from its $2 billion open-end fund, the only one aimed solely at investing in education, senior living and storage.
CalPERS commits $1.35 billion to 4 managers
trueCalPERS committed $600 million to two real estate partnerships, $500 million to a European opportunistic credit strategy and $250 million to a credit-focused investment strategy, said agenda materials for the investment committee’s Sept. 15 meeting.
Indiana signs Mercer as real estate consultant
trueIndiana Public Retirement System, Indianapolis, hired Mercer as the $30.3 billion retirement system's real estate consultant.
DDR Corp. CEO to depart at end of 2015
trueDaniel B. Hurwitz, CEO of DDR Corp., will leave the retail real estate investment trust at the end of 2015.
Greater Manchester Pension Fund sticks with GVA Grimley for real estate
trueGreater Manchester Pension Fund, Manchester, England, rehired GVA Grimley to run its real estate venture fund.
Connecticut Retirement Plans commits $100 million to Starwood
trueConnecticut Retirement Plans & Trust Funds committed $100 million to Starwood Global Opportunity Fund X, a real estate fund managed by Starwood Capital Group.
Blackstone plans property IPOs as next real estate fund prepared
trueBlackstone Group has already taken public its biggest U.S. real estate investment from the property market's boom. Now, it's planning to sell shares in two companies created in the wake of the crash.
Private real estate return expectations rise more than 1 percentage point from prior quarter
trueThe average forecast return for the NCREIF Property index in 2014 rose more than one percentage point from a quarter ago, according to The Pension Real Estate Association's latest consensus survey, released Tuesday.
New Mexico State Investment Council adjusts allocation
trueNew Mexico State Investment Council, Santa Fe, is reducing the opportunistic credit allocation of its $4.4 billion fixed-income portfolio to 15% from 21.2%, said Charles Wollmann, spokesman for the $19.8 billion endowment.
Oklahoma Teachers drops Thornburg
trueOklahoma Teachers' Retirement System terminated Thornburg Investment Management from a $485 million international value equity portfolio.