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Kentucky Teachers tags $60 million for TA Realty fund
trueKentucky Teachers' Retirement System, Frankfort, committed $60 million to TA Realty Associates Fund XI.
Sun Life to acquire real estate manager Bentall Kennedy
trueSun Life Financial will acquire real estate money manager Bentall Kennedy Group for a purchase price of C$560 million ($455 million).
BNY Mellon names global head of private equity, real estate servicing
trueAlan Flanagan was named global head of private equity and real estate fund services for Bank of New York Mellon’s alternative investment services business.
San Francisco City & County sets $50 million for real estate fund
trueSan Francisco City & County Employees’ Retirement System committed up to $50 million to Westbrook Real Estate Fund X.
Housing bubble gets big-screen treatment
trueA movie about the housing bubble and subsequent financial crisis is coming soon to a theater near you.
CalPERS hampered by fee complications
trueCalPERS officials, embarking on a major project to cut the fund's roster of external money managers and reduce fees, are blindfolded because they can't track what is being paid to private equity firms, the most fee-intensive group.
PREA forecast: 2015 returns revised upward
trueReal estate experts have increased their return expectations for 2015. According to the Pension Real Estate Association's second-quarter Consensus Forecast, respondents' average expected return in 2015 is 10.6%, up from 9.8% when the survey was last conducted three months ago.
Connecticut earmarks $115 million for 2 alternatives funds
trueConnecticut Treasurer Denise L. Nappier, principal fiduciary for the $29.6 billion Connecticut Retirement Plans & Trust Funds, is considering committing a total of up to $115 million to two alternatives funds.
Hawaii Employees sets $30 million for LaSalle real estate fund
trueHawaii Employees’ Retirement System committed $30 million to LaSalle Income & Growth Fund VII.
REITs and rising rates
trueA recent study of the asset class back to 1978 found that real estate investment trusts “generate attractive returns in rising-rate periods,” and “actually performed better than in falling-rate periods three out of five times.
Texas Teachers assigns $1 billion to five investments
trueTexas Teacher Retirement System committed more than $1 billion to five alternative investment vehicles in May.
Cornerstone Real Estate Advisers appoints global head of business development
trueJ.D. Sitton was named global head of business development at Cornerstone Real Estate Advisers, effective in September.
Houston Municipal sets $45 million for 2 funds
trueHouston Municipal Employees Pension System committed $45 million total to two alternatives funds.
Minnesota State Board of Investment commits $500 million to 4 funds
trueMinnesota State Board of Investment, St. Paul, on Wednesday approved commitments of up to $150 million each to two managers and $100 million each to two others.
New Mexico PERA earmarks up to $560 million for 4 managers
trueNew Mexico Public Employees Retirement Association hired four managers to run emerging market equities, high-yield fixed income and alternatives portfolios.