Real Estate

Friday SWFI News Roundup, August 28, 2015

Can Risk Parity Hurt the Recovery? Many institutional investors, especially U.S. pensions, have adopted the concept of risk parity and have applied it to their portfolios. There are estimates that around US$ 500 billion in assets are allocated to risk parity strategies and about 40% of those assets are allocated toward listed equities. The recent [...]


POWERS UNITE: TIAA-CREF, AP1 and AP2 Pool European RE Portfolios

The Swedish buffer funds AP1 and AP2, along with TIAA-CREF have pooled their European real estate portfolios together to form a €4 billion joint venture called Cityhold Office Partnership. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Wealth Fund Eyes Major Singapore Office

Norway’s Government Pension Fund Global (GPFG) has set its eyes toward Southeast Asia, specifically Singapore where it has operations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 21, 2015

Norway SWF Posts Negative Returns for Second Quarter Norway’s Government Pension Fund Global (GPFG) posted a negative return of -0.9% for the second quarter. Fixed income dragged down returns at -2.2%, while equities for the wealth fund returned -0.2%. The wealth fund’s real estate investments posted a 2% return for the quarter. Yngve Slyngstad, CEO [...]


CPPIB Commits Direct Investment in Malaysian Real Estate Development

Increasingly, asset owners are working with Asian developers on large real estate projects. Simply put, asset owners such as sovereign funds and large Canadian pensions have the money and the developers need the capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Oman’s SGRF Buys Hotel in Central Paris

Oman’s State General Reserve Fund (SGRF), one of Oman’s sovereign funds, acquired a majority interest in the Marriott Ambassador Paris Hotel. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – August 17, 2015

CBRE Global Investors Appoints Ferguson as Global CIO T. Ritson Ferguson has been named global chief investment officer of Los Angeles-based CBRE Global Investors. This is a new role. Ferguson will maintain his role as CEO and Co-CIO of CBRE Clarion Securities, the equity securities management arm of CBRE Global Investors. Ferguson joined CBRE in [...]


REVEALED: Trump Says Kuwait Sovereign Fund Not Keen on U.S. Deals After War

  U.S. Republican Primary Presidential Candidate Donald Trump was interviewed by NBC News Host Chuck Todd on August 16th on the show, Meet the Press. Trump is leading the Republican U.S. Presidential Primary in a number of polls in the early primary states of Iowa and New Hampshire. Among a myriad of topics and issues, [...]


Asset Owner Real Estate Roundup, August 12, 2015

CalSTRS Buys Another Data Center California State Teachers’ Retirement System (CalSTRS) acquired another data center. DataCore LP, its US$ 500 million separate account managed by GI Partners, bought the data center at 10828 NW Airworld Drive, Kansas City. The tenant is Datapipe, Inc., a cloud and managed services provider. In 2012, CalSTRS founded DataCore to [...]


2015: Strong Start for Sovereign Wealth Fund Deals

Direct Sovereign Wealth Fund Transactions Despite a possible future slowdown in the global economy, direct sovereign wealth fund transactions for the first half of 2015 conquered the first half of 2014. According to the Sovereign Wealth Fund Transaction Database (SWFTD), wealth funds generated US$ 64 billion worth of deals in the first half of 2015 [...]


Friday SWFI News Roundup, August 7, 2015

GIC Possible Assist in Worldpay Bid Private equity giants Blackstone Group and Hellman & Friedman are teaming up to acquire U.K.-based Worldpay, a payments processing company that is trying to float £6 billion onto the London stock exchange. The private equity group may include Singapore’s GIC Private Limited to have additional financial firepower in the [...]


Taiwan Public Service Pension Awards RE Mandates

Taiwan institutional investors are encountering low yields on domestic real estate investments. Taiwan’s Public Service Pension Fund has allocated US$ 150 million in its global listed real estate mandate to two managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC Brigade Joint Venture Acquires Nerolac Paints Land

Brigade Properties is a joint venture between Singapore’s GIC Private Limited and Brigade Enterprises. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB Gets Exposure to SoCal Healthcare Real Estate

The Canada Pension Plan Investment Board (CPPIB) formed a joint venture with Toledo-based Health Care REIT Inc., to hold a portfolio of medical offices in Southern California. CPPIB will own 45% of the joint venture, while Health Care REIT will own 55%. Health Care REIT is selling assets into the JV. [ Content protected for [...]


sovereign wealth fund collateral

CASHING IN: Asian Sovereign Fund Times RE Selloff

Institutional investors are hungry for real estate, especially in global gateway cities. Low cap rates and lofty valuations are becoming irrelevant in the eyes of some sovereign investors and pensions that are viewing core real estate as a store of value rather than a yield generator. Pensions and wealth funds are going both direct and [...]


NBIM Poised to Acquire West One Shopping Centre

Norges Bank Investment Management (NBIM), the manager of Norway’s Government Pension Fund Global (GPFG), has won the bidding to acquire the West One Shopping Centre from Orchard Street Investment Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CELEBRATE: GIC Generates Positive Return for Fiscal Year 2015

Singapore’s GIC Private Limited, one of the country’s sovereign wealth funds, released their annual report. GIC’s 20-year annualized real rate of return was 4.9%, up from last year’s 4.1% 20-year return. The sovereign investor had its best performance since 2005. However, the tone of the annual report echoes other sovereign wealth funds like Australia’s Future [...]


Ireland’s SDSWF Forms €500 Million Joint Venture with KKR

Ireland’s Strategic Investment Fund (ISIF), the former National Pensions Reserve Fund, has partnered with private equity firm KKR Capital to form a €500 million residential property joint venture. ISIF is a strategic development sovereign wealth fund (SDSWF). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Chinese Sovereign Fund to Become Major Landlord in Sydney Office Market

Globally, record low interest rates have intensified sovereign wealth funds thirst for yield. The China Investment Corporation (CIC), through its unit CIC International, has won the bidding for Investa Property Group’s portfolio of nine office towers known as Investa Property Trust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


Ireland

Ulster Bank Prefers Chartered Land and SWF Team for Ballsbridge Site

Dublin-based Chartered Land Limited, an Irish real estate developer, and the Abu Dhabi Investment Authority (ADIA) are in close negotiations on acquiring a land parcel in Dublin suited for development. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]