real assets

BIG WIN: LaSalle Gets UK Real Estate Mandate From Manchester Pension

More and more public pensions and U.S.-based sovereign funds are outsourcing U.K. real estate management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Take Two: GIC Bids for $1.6 Billion Tokyo Office Tower

Singapore’s sovereign wealth fund, GIC Private Limited, is in key negotiations to acquire a prized Tokyo office tower for approximately 170 billion yen (US$ 1.6 billion). Built in 2001, the 32-story Pacific Century Place Marunouchi is being sold by Secured Capital Investment Management Co., Ltd., part of Asian private equity firm PAG. The property lies [...]


Asian Sovereign Wealth Fund Gets Access to Bristol Shopping Centre

After a long process, it seems that an Asian sovereign wealth investor is making a major move on a UK shopping centre. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


AIMCo Buys Mortgage Portfolio from OMERS

The Alberta Investment Management Corporation (AIMCo) has acquired a mortgage portfolio from the Ontario Municipal Employees’ Retirement System (OMERS). The transaction value was C$ 520 million (US$ 477 million). Most of the 50 mortgages were in high-quality and geographically scattered Canadian mortgages. OMERS has C$ 1.127 billion in mortgage investments. AIMCo has US$ 3 billion [...]


New-York sovereign wealth fund

UPDATE: Indian Tycoon Roy Looks to Sell $2.2 Billion in Properties

August 19 – UPDATE: According to a recent CNBC update, a spokesman for the Sultan of Brunei has dismissed news that they have made a bid for New York’s Plaza Hotel, Dream Hotel and London’s Grosvenor House hotel. “Neither His Majesty, the Brunei Investment Agency, nor the government of Brunei are involved in any way [...]


Temasek Poised to Acquire MidCity Place

Singapore’s Temasek Holdings is in the lead to acquire a 50% interest for £175 million in MidCity Place, an EC1 office in London. The property is located near Chancery Lane and Holborn Underground Stations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


The Crown Estate and China’s FX Investor Buy Leicester Mall

Already in August, The Crown Estate has partnered with two major sovereign wealth funds from the countries of Norway and China. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Sovereign Wealth Fund and Crown Estate Acquire Pollen Estate

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has acquired a 57.8% interest in Mayfair’s Pollen Estate for £343 million. The property is a 730,000 square feet estate over 4 acres in London’s West End. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


Constellation Hotel Holdings Acquires InterContinental Paris – Le Grand

Gulf sovereign wealth funds continue to purchase hotel properties across Europe. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Confirmed: Metlife and Norway SWF Acquire One Beacon Street

This is confirmation that Metlife and Norway’s Government Pension Fund Global (GPFG), through Norges Bank Investment Management (NBIM), have purchased One Beacon Street in Boston, Massachusetts for US$ 561 million. Metlife will control 52.5% of the tower. “Our partnership with the world’s largest sovereign-wealth fund is built on a strategy of providing first-rate asset management [...]


See the 4 Competitors Vying for Seoul’s State Tower Namsan

Institutional real estate in Seoul is attracting real estate managers, pension investors and sovereign wealth funds. State Tower Namsan is for sale. The Seoul office building has a floor area of 66,799 square meters. The Korea Investment Corporation (KIC) has its headquarters in the building. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


USAA Sells Industrial Portfolio to Middle East Sovereign Wealth Fund

In April 2014, USAA Real Estate Co., the real estate investment unit of USAA, launched a search to find a buyer for its 14 million square feet of warehouses scattered across the southern region of the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Pension and Wealth Fund Capital Invests in LaSalle Asian Fundraise

LaSalle Investment Management, a subsidiary of Jones Lang LaSalle, announced a US$ 1 billion close for its LaSalle Asia Opportunity Fund IV L.P. and two other separate accounts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway Sovereign Wealth Fund Looking for Real Estate Strategies Professional

As Norway’s Government Pension Fund Global (GPFG) augments activity in direct real estate investments, the need for internal resources is growing. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Qatari Diar to Own Seef Lusail Real Estate Development

Qatar-based Masraf Al Rayan is selling its 50% stake in Seef Lusail Real Estate Development Company to its joint venture partner which is a unit of Qatari Diar. The remaining 1% was sold to Qatari Diar Real Estate Investment Company. Masraf Al Rayan, Qatar’s largest Islamic bank by market value, had owned the development equally [...]


Qatar Sovereign Wealth Finalizes Deal in Moscow Real Estate

Gazing North, Qatar’s sovereign wealth fund has been making larger inroads into Russia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


UPDATE – Deal Canceled – on Meguro Gajoen

UPDATE – July 11, 2014 GIC Private Limited has backed out of buying the Tokyo property due to a dispute between two other groups involving land. Lone Star Funds was close to selling the property to the Singapore sovereign wealth fund. Singapore sovereign wealth fund, GIC Private Limited, beat out other institutional investors to acquire [...]


Friday SWFI News Roundup, July 11, 2014

Illinois State Board of Investment Terminates William Blair for Bad Performance The Illinois State Board of Investment terminated a US$ 580 million active U.S. midcap growth equities mandate being managed by Chicago-based William Blair & Co. William R. Atwood, executive director of the pension entity, stated it was due to performance reasons. The fund proceeds [...]


Wealth Funds Plow Money into Chinese Logistics

The Norwegian, Singaporean and Chinese sovereign wealth funds are not the only big institutional investors moving capital into logistics properties and warehouses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Funds a Key Driver of Institutional Real Estate Demand

More and more sovereign wealth funds and foreign pension investors are buying up core real estate. Core markets are being saturated with yield-hungry investors, thus lowering cap rates. Public pension funds are looking to regional cities again, targeting high-income producing properties. For example, the Alaska Permanent Fund, through LaSalle Investment Management, bought the Golden Square [...]