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Real estate investors favoring value-added strategies in coming year
trueValue-added real estate strategies appear to be the most popular among institutional investors in the coming year, according to data from Preqin.
LACERS slates $35 million for Jamestown open-end real estate fund
trueLos Angeles City Employees Retirement System committed up to $35 million to the Jamestown Premier Property Fund, minutes from the $13.9 billion pension fund’s Nov. 25 meeting show.
San Francisco City & County dials back proposed hedge fund allocation to 5%
trueSan Francisco City & County Employees' Retirement System Chief Investment Officer William Coaker's controversial plan to invest 15% of the pension plan's assets in hedge funds is dead.
CalSTRS commits nearly $400 million to 3 real estate funds
trueCalSTRS made commitments totaling $293 million to two European real estate managers and another $100 million to a U.S. fund, said spokesman Ricardo Duran.
AustralianSuper hoping U.S. market will help boost real estate returns
trueAustralianSuper announced Monday it would be hiring Principal Real Estate Investors to invest in properties (either directly or via joint ventures) of $200 million or more in major U.S. cities.
AustralianSuper picks Principal Real Estate for U.S. office investments
trueAustralianSuper hired Principal Real Estate Investors to advise the Melbourne-based superannuation fund on its investments in U.S. office properties.
GIC group to buy Blackstone's IndCor U.S. property platform for US$8.1 billion
trueSingapore sovereign wealth fund GIC, through its affiliates, will acquire IndCor Properties and its portfolio of 117 million square feet of industrial U.S. properties from Blackstone Group for US$8.1 billion.
November index returns by major asset class
trueU.S. equities returned 2.4% in November, as measured by the Russell 3000 index. The index gained 2.6% year-to-date through November.
Massachusetts Water Resource Authority looking for real estate manager
trueMassachusetts Water Resource Authority Employees’ Retirement System is searching for a real estate manager to run up to $4 million for the $420 million pension fund.
Houston Firefighters commits $25 million to real estate fund
trueHouston Firefighters’ Relief & Retirement Fund committed up to $25 million to Sterling Value Add Partners II, pending final due diligence and contract discussions.
Texas Teachers puts $200 million toward car dealership co-investment
trueTexas Teacher Retirement System committed $200 million to BSREP CARS Co-Invest Pooling fund.
Arizona PSPRS cleared of criminal wrongdoing in its real estate valuations
trueArizona Public Safety Personnel Retirement System has been cleared of criminal wrongdoing regarding real estate valuations.
Cornerstone Real Estate president to add CEO title
trueScott D. Brown, global president of real estate money management firm Cornerstone Real Estate Advisers, is taking on the additional global role of CEO.
Kensington shows off its lighter side
trueChicago-based real estate money manager Kensington Realty Advisors Inc. is a serious firm with a wicked sense of humor.
South Carolina has to allocate up to $1.5 billion in alts to reach new asset mix
trueSouth Carolina Retirement System Investment Commission, Columbia, received an update on the progress of implementing the pension fund's asset allocation, which became effective July 2013.