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Fresno County commits $50 million to 2 real estate funds
trueFresno County (Calif.) Employees' Retirement Association committed $50 million total to two real estate managers, pending successful contract negotiations.
Emerging real estate managers getting smaller slice of pie
trueAn examination of emerging managers in real estate highlights the difficulty that managers without an established track record face when getting their proverbial foot in the institutional door.
Swiss Federal Social Security Funds looking for Asia-Pacific real estate fund
trueSwiss Federal Social Security Funds, Geneva, is searching for a manager to run $35 million to $50 million in a core/core-plus Asia-Pacific real estate fund.
Fort Lauderdale signs 3 private equity and 2 real estate managers
trueFort Lauderdale (Fla.) General Employees’ Retirement System hired three private equity managers and two real estate managers, each to run $10 million.
Aviva, PSP Investments form joint venture to invest in London real estate
truePublic Sector Pension Investment Board formed a joint venture with Aviva Investors to invest in central London real estate.
Fortress Investment closes third Japan-focused fund at $1.1 billion
trueFortress Investment Group closed Fortress Japan Opportunity Fund III at about $1.1 billion, hitting its hard cap.
Florida SBA earmarks $865 million for 9 managers
trueFlorida State Board of Administration, Tallahassee, committed a total $865 million to nine managers, including $200 million to Blackstone Tactical Opportunities Fund II.
Intel sued over hedge, private equity fund investments in DC plans
trueA former Intel Corp. employee is suing officials at the Santa Clara, Calif.-based company for allegedly breaching their fiduciary responsibilities by investing defined contribution participants' retirement money in “risky and high-cost” hedge funds and private equity funds.
Timberland index gains 0.77% in Q3
trueThe NCREIF Timberland index returned 0.77% in the third quarter, consisting mostly of 0.71% income return, and appreciation of 0.06%.
Qatar Investment Authority forms $8.6 billion Manhattan joint venture with Brookfield
trueBrookfield Property Partners and Qatar Investment Authority said they've formed a joint venture on an $8.6 billion mixed-use project under construction on Manhattan's far west side.
Private real estate index gains 3.09% in third quarter
trueThe NCREIF Property index posted a 3.09% return in the third quarter, consisting of 1.2% income and 1.86% appreciation during the quarter.
Bristol County Retirement seeking open-end real estate manager
trueBristol County Retirement System, Taunton, Mass., is looking to allocate about $30 million to a private open-end, value-added real estate fund.
Core real estate managers adding a little risk to portfolios to bolster returns
trueCore real estate isn't what it used to be — it's a bit riskier. Investors expect core funds to be portfolios of very stable, low-risk real estate, but core properties have become very expensive. So managers are taking advantage of provisions in their fund documents allowing them to add riskier ...
BlackRock survey: 42% of insurers looking to pare equity holdings
trueForty-two percent of insurance companies said they are likely to decrease their equity investments over the next 12 to 24 months, a BlackRock survey found. The same percentage said they would maintain their equity exposure, while only 13% indicated they would increase allocations to stocks. Three ...
PGGM maps CO2 footprint of real estate portfolio
truePGGM has mapped the carbon dioxide footprint of its €20 billion ($22.7 billion) in real estate assets.