Real Estate

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 [...]


2 Trends That Will Shake the Asset Management Industry

2013 and 2014 have been positive years for the asset management industry, as asset growth resumes, mostly contributed by market appreciation. In addition, on average, asset management firms have maintained operating margins at pre-crisis levels. Large U.S. banks, like Wells Fargo, are channeling company resources more toward institutional and wealth money management. 1. Investment Managers [...]


Norway Sovereign Wealth Fund Approaching $900 Billion

For the second quarter of 2014, Norway’s Government Pension Fund Global (GPFG) returned 3.3%. For that time period, equity investments returned 4.01%, fixed income 2.04% and real estate 3.04%. 61.3% of the sovereign fund is invested in equities, 37.6% in fixed income and 1.2% in real estate. Norges Bank Investment Management (NBIM) has split up [...]


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. ]


CPPIB’s Massive Expansion into US Multifamily Developments

The Canada Pension Plan Investment Board (CPPIB) has grown its exposure in U.S. multifamily real estate, starting investment activity in the sector in 2011. Currently, the CPPIB has US$ 1.3 billion in equity commitments to this sector – showing a gross asset value of US$ 4.5 billion, when at full ownership. CPPIB has exposure in [...]


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. [...]


Friday SWFI News Roundup, August 8, 2014

Nigeria Sovereign Investment Authority to Manage US$ 350 Million for NBET On July 24, the Nigeria Sovereign Investment Authority (NSIA) and Nigerian Bulk Electricity Trading Plc (NBET) signed a funds management agreement. US$ 350 million is being allocated to the NBET from the US$ 1 billion Eurobond issued by the Nigerian government in July 2013. [...]


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. ]


Korea’s Largest Public Fund Invests $390 Million in PE Vehicle

Korea’s National Pension Service (NPS) is moving billions of capital toward alternative asset classes such as private equity and institutional real estate. The largest pool of public retirement assets in Korea will invest in a 400 billion KRW (US$ 390 million) private equity co-investment fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


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 [...]


Norway’s SWF May Purchase Interests in Two U.S. Buildings Worth $915 Million

Norges Bank Investment Management (NBIM), which manages Norway’s Government Pension Fund Global (GPFG), is in discussions to acquire interests in two U.S. office buildings worth US$ 915 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB Invests in Parking Garages in Belgium and Germany

The Canada Pension Plan Investment Board (CPPIB), through CPP Investment Board European Holdings S.àr.l, has signed an agreement to invest approximately €376 million for a 39% stake in Interparking Group S.A./NV. This deal was announced on July 18, 2014. Brussels-based Interparking is one of Europe’s biggest car parking management companies. Founded in 1958, Interparking has [...]


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. ]


Bidders for South Korea’s Parnas Hotel Line Up

Institutional investors are bidding for a majority stake in South Korea’s Parnas Hotel Co Ltd. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]