real assets

6 Property Plays by Major Institutional Investors in Late Jan

According to the Sovereign Wealth Fund Transaction Database, which tracks public investor transactions, for some reason an unusual number of institutional investors are buying core properties in January. TIAA-CREF is in final talks to pay US$ 200 million for 837 Washington Street, a boutique office and retail building in Manhattan. The sellers are Taconic Investment [...]


TRIUMPH: Qatar Sovereign Wealth Fund Wins Battle for Canary Wharf Complex

The Qatar Investment Authority (QIA) had set its sights on London’s Canary Wharf complex. Songbird Estates controls 69% of Canary Wharf Group, owner of the Docklands estate, continually advised investors to reject the offer, still believing it was too low. After a long battle, the QIA-Brookfield bid won after three major shareholders agreed to accept [...]


Singapore Sovereign Wealth Fund Gets Approval for Auckland Property Investments

Singapore’s GIC Private Limited has received approval from New Zealand’s Overseas Investment Office (OIO) to purchase a 49% share in Auckland Viaduct properties. The GIC is investing in a joint venture with Goodman Property Trust (GPT). The NZ$ 313 million portfolio has a mandate to augment up to NZ$ 500 million over time.[ Content protected [...]


Asian Sovereign Wealth Fund Acquired Stake in Silicon Valley Complex

In recent years, Menlo Park office properties have fetched higher prices compared to post-2001 years. Sand Hill Road is known as the epicenter of venture capital. Office transactions are rare. Not only are sovereign wealth funds centering on startups like Square and Uber, a number of sovereign funds are buying up prized Silicon Valley real [...]


Quebec Looks to Tap CDPQ for Public Infrastructure Projects

Caisse de dépôt et placement du Québec (CDPQ) has reached an agreement with the Government of Québec to develop and manage infrastructure assets for the province. Under the agreement and subject to the approval of province legislative amendments, CDPQ will form a new subsidiary called CDPQ Infra. This unit will lead the planning, financing, execution [...]


TRS Puts Up Capital for Camden Property Multifamily Fund III

Teacher Retirement System of Texas (TRS) has created a US$ 450 million joint venture to invest in value-add properties across America. TRS is kicking in US$ 144 million in equity toward Houston-based Camden Property Trust’s Multifamily Fund III. TRS has invested in Camden funds before. Camden Property will allocate US$ 36 million to the fund. [...]


CPPIB Embarks on Direct Mixed-Use Development in China

Canada Pension Plan Investment Board (CPPIB) and Beijing-based Longfor Properties Company Ltd., a Chinese real estate developer, have formed a joint venture for a mixed-use development project in Suzhou, Jiangsu Province, China. The joint venture was formed on December 23, 2014. The CPPIB committed RMB 1250 (C$ 234 million) to jointly develop the Times Paradise [...]


Major Hurdle to Clear for Songbird Estates Takeover Bid

The majority owner of Canary Wharf Group Plc, Songbird Estates, is expected to reject the £2.6 billion takeover move by Qatar’s sovereign wealth fund. Canada-based Brookfield Asset Management and Qatar Investment Authority (QIA) have to muster 50% of shareholder support to move forward with the takeover. The bidders have been trying to garner support of [...]


CPPIB Buys Interest in Uber and Square Headquarters

San Francisco’s resurgent office market has attracted more institutional investors to the stage. The Canada Pension Plan Investment Board (CPPIB) and Los Angeles-based Hudson Pacific Properties, Inc., a real estate company focused on Western U.S. real estate, formed a joint venture in which the CPPIB is acquiring a 45% interest in 1455 Market Street. CPPIB [...]


Knight Frank Wins Lancashire County Pension RE Portfolio Mandate

The £5 billion Lancashire County Council Pension Fund has awarded a mandate to London-based Knight Frank Investment Management LLP, a unit of Knight Frank LLP, to manage national and county real estate portfolios for the pension fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OTPP to Boost Birmingham Airport Holding

Toronto-based Ontario Teachers’ Pension Plan (OTPP) plans to augment its interest in Birmingham Airport (United Kingdom) to 48.25%. OTPP acquired a 19.25% stake in the airport from Victorian Funds Management Corporation (VFMC), a superannuation funds manager. A long-term investor indeed, OTPP made its initial investment in the airport in 2001. The pension investor boosted its [...]


Sovereign Wealth Centers on 3 Major Infrastructure Deals

Sovereign wealth funds are honing in on some major infrastructure deals. The UK government’s stake sale in Eurostar has lured two cash-rich Asian sovereign wealth funds to the table. Eurostar, a high-speed rail operator, connects London and Paris through the Channel Tunnel as well as Brussels. The China Investment Corporation (CIC) and Singapore’s GIC Private [...]


Strategic Development: Angola Sovereign Wealth Fund Building Hospitality School

Fundo Soberano de Angola (FSDEA) has begun construction on Academia de Gestão da Hospitalidade Angolana, a new hospitality school. The school will be located in the Angola province of Benguela which borders the Atlantic coast. The FSDEA is a strategic development sovereign wealth fund (SDSWF), that is embarking on local investment projects to boost returns, [...]


Why Did Aviva Sell its APAC Real Estate Business to JP Morgan

Aviva Investors, the investment arm of insurer Aviva PLC, has sold its Asia-Pacific (APAC) real estate business to JP Morgan Asset Management. Aviva has encountered increased competition from private equity players in APAC real estate from firms such as Blackstone Group. Nearly a year ago, Aviva’s APAC real estate division hired the corporate finance division [...]


TOP 10 Direct Sovereign Wealth Fund Real Estate Deals of 2014

9 out of the top 10 sovereign wealth funds ranked by assets under management have an allocation to institutional real estate. Increasingly, cash-rich sovereign wealth funds and large pensions such as CPPIB are vying for institutional real estate, creating competition for life insurance companies, developers, real estate managers and real estate investment trusts. For example, [...]


India deals

Asian Sovereign Wealth Fund Invests in Gurgaon Residential Development

Singapore’s GIC Private Limited, through a sovereign wealth enterprise (SWE), created a joint venture with Indian property developer Vatika Group. The joint venture will develop two high-quality residential projects on Dwarka Expressway in Gurgaon. Gurgaon is near the Indian capital of New Delhi, in the state of Haryana. The residential projects are expected to be [...]


Singapore Sovereign Wealth Fund Acquires Rio de Janeiro Office Building

GIC Private Limited, one of Singapore’s sovereign wealth funds, acquired an office building in downtown Rio de Janeiro. This is the sovereign wealth fund’s first direct real estate investment in Latin America. The office building, Eco Sapucaí, was sold by real estate fund manager Hemisfério Sul Investimentos (HSI). The 86,060 square meter building was designed [...]


Sovereign Wealth Fund Looks to German Residential Real Estate

Looking away from London, residential properties in Berlin are attracting more overseas institutional investors. Berlin-based Kauri CAB Management GmbH and Apeiron Capital have partnered with a sovereign wealth fund to allocate capital to residential properties across Germany. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BIG DEAL: QIA Finalizes HSBC Tower Purchase in Canary Wharf

The Qatar Investment Authority (QIA) has finalized the purchase of HSBC’s headquarters in Canary Wharf. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


blackstone

PAYDAY: Singapore Sovereign Wealth Fund Loves Logistics

Update – December 8th It was originally reported that GIC Private Limited was the sole investor in IndCor Properties and that Global Properties Logistics denied involvement. We can now confirm that Global Properties Logistics is the lead investor. There were reports that Global Logistic Properties Limited (GLP) was participating on the deal. On December 8th, [...]