Real Estate

CRUISING: TRS Gets Exposure to Car Dealerships in America

The Teacher Retirement System of Texas is allocating US$ 200 million for a 30.5% interest in a fund to get exposure to car dealerships across America. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Korean Pension Giant Invests in Frankfurt Core Development

Korea’s National Pension Service (NPS) has acquired 95% of the rights of a building in Frankfurt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Singapore Sovereign Wealth Fund Allocates to Indonesian Real Estate

Singapore’s GIC Private Limited and Rajawali Group, one of the biggest investment companies in Indonesia, have penned a Memorandum of Understanding (MoU) to jointly invest up to US$ 500 million in equity toward property developments in Indonesia. The focus will be on developments in central business districts throughout Indonesia. Types of real estate will include [...]


CPPIB Boosts Goodman Group Chinese Logistics JV

The Goodman Group has been working with a variety of institutional investors such as sovereign wealth funds like the China Investment Corporation (CIC) and large pensions. The Goodman Group and Canada Pension Plan Investment Board (CPPIB) announced a US$ 500 million boost to their equity allocation in Goodman China Logistics Holdings, a fourth equity capital [...]


Texas Teachers: $755 Million in Private Market Commitments

T he Texas Teacher Retirement System has committed US$ 755 million to 5 private market funds. These funds were reported to have received capital commitment agreements approved before September 30, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


New-York sovereign wealth fund

BIG DEAL: Ivanhoe Cambridge Buys Bryant Park Tower from Blackstone

Highlighting gregarious demand for stable, U.S. real estate, public funds are plowing massive mounds of capital into property markets like Manhattan. The Manhattan real estate market offers institutional investors a deep pool of property inventory with asset characteristics suitable for their tastes. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


Wellington Place: CPPIB and Hermes Real Estate Form New JV

The Canada Pension Plan Investment Board (CPPIB) and Hermes Real Estate, part of Hermes Investment Management, created a new UK regional joint venture partnership. The CPPIB and Hermes already have an existing London office joint venture formed in July 2013. This new partnership will involve Hermes Real Estate selling 50% of the development phase of [...]


NBIM and TIAA-CREF Acquires Property Across from US Capitol

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has purchased a 49.9% stake in the land at 400-444 North Capitol Street in Washington D.C. for US$ 82.3 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sir Rocco Forte’s Hotel Group Gets Investment from FSI

Fondo Strategico Italiano, the Italian Strategic Fund (FSI), is investing capital into Sir Rocco Forte’s empire, Rocco Forte Hotels. FSI Investimenti, a joint venture between the FSI and the Kuwait Investment Authority (KIA), and FSI are investing £60 million into the hotel group for a 23% stake in the company. FSI Investimenti is about 77% [...]


With Greater Egyptian Stability, Aabar Invests in Real Estate Development Company

Aabar Investments PJS, owned by International Petroleum Investment Company (IPIC), has acquired a 5.1% stake in the second largest real estate developer listed on the Egyptian Stock Exchange. Aabar purchased the stake in Palm Hills Developments Company SAE. Aabar will nominate a representative to the board of Palm Hills Developments. Palm Hills Development has a [...]


Friday SWFI News Roundup, November 7, 2014

Songbird Rejects QIA and Brookfield Takeover Offer The Qatar Investment Authority (QIA) and Brookfield Property Partners have reached out to Songbird Estates, the 69.4% owner of Canary Wharf real estate development, in a bid for takeover. Songbird Estates is partially-owned by sovereign funds such as QIA and the China Investment Corporation. On Friday, Songbird Estates [...]


SWF Partnership: KIC and QIA Form Joint Investment Fund

Increasingly, sovereign wealth funds from the East and the Gulf are creating joint investment funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ATP

Denmark’s ATP Forms Special Situations Unit

Denmark’s ATP has five risk classes: interest rates, credit, equities, inflation and commodities. The ATP is forming a unit to focus on “non-traditional assets.” [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Real Estate Investments, More Attractive for Sovereign Wealth Funds

Sovereign wealth funds are plugging more money into direct real estate, even in development deals. The thirst for core properties, value-add real estate and logistics are drawing sovereign wealth funds to spend more. According to data from the Sovereign Wealth Fund Transaction Database, sovereign wealth funds in total invested US$ 17.5 billion for the first [...]


blackstone

GIC-Led Group Seeks Billions for Blackstone’s IndCor

The Blackstone Group is nearing a deal to exit Chicago-based IndCor Properties Inc, a massive holder of American industrial properties such as warehouses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


2 Major Sovereign Wealth Fund Strategic European Deals

Middle East sovereign wealth funds are undeterred when it comes to London real estate. The Kuwait Investment Authority (KIA) has backed a former Goldman Sachs partner in launching a real estate investment firm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Singapore Sovereign Wealth Fund Makes Inaugural NZ Real Estate Investment

Goodman (NZ) Limited, manager of the Goodman Property Trust (GMT) and managed by ASX-listed Goodman Group, has added a new institutional investor to a growing joint venture to invest in Auckland’s Viaduct Quarter. Singapore’s GIC Private Limited has joined the venture (Viaduct Corporate Centre Limited ), acquiring a 49% interest of the partnership assets that [...]


Qatar Investment Authority Invests in DB’s Italian Branches

Deutsche Bank and Hines Italia SGR, the Italian arm of Hines, have made an agreement to move a portfolio of 90 Italian branches of Deutsche Bank into a real estate fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, October 31, 2014

Friday Roundups – Halloween Edition In London: We had over US$ 2.7 trillion in public asset owner capital in the audience. Photo: Gerard Lyons addressing delegates of asset managers, sovereign wealth funds, pensions and policymakers. Harrods Pays £118 Million Dividend to Qatar Holding Harrods, a luxury department business, paid a £118 million dividend to its [...]


ALMOST FLAT: Norway SWF Posts 0.1% for 3rd Quarter of 2014

Norway’s Government Pension Fund Global (GPFG) posted a 0.1% return for the third quarter of 2014. Equity investments posted -0.5% for the period, while fixed income posted 0.9%. Real estate investments for the period returned 1.5%. In a press release, Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM), stated, “Two quarters of strong returns [...]