Real Estate

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, [...]


Friday SWFI News Roundup, December 19, 2014

Man Group Buying up U.S. Alternative Management Businesses Man Group has acquired Stamford-based Silvermine Capital Management. Man Group is looking to augment their presence in the United States, buying up alternative shops. Silvermine Capital Management has US$ 3.8 billion in assets under management. Silvermine is owned by its founders and senior executives. The firm focuses [...]


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 [...]


forest

Alaska Sovereign Fund Allocates Big to Dyal Capital and American Homes 4 Rent

The Alaska Permanent Fund Corporation (APFC) announced some new commitments after a December board meeting. The APFC committed US$ 200 million to American Homes 4 Rent II, LLC, a real estate vehicle that acquires pools of vacant single-family residences and manages them as rental properties. The maximum term of American Homes 4 Rent II, LLC [...]


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, [...]


ports sovereign wealth

Qatar Sovereign Fund Invested $1.8 Billion in Brookfield Property

Brookfield Property Partners LP, through Brookfield Property LP, issued US$ 1.8 billion of preferred equity securities exchangeable into units at a price of US$ 25.70 to the Qatar Investment Authority (QIA). This deal occurred on December 4, 2014. The QIA has about a 9% interest in Brookfield Property on an as-exchanged basis. [ Content protected [...]


asset allocation

Betting on Europe: CalSTRS Makes Real Estate Fund Commitments

The California State Teachers’ Retirement System (CalSTRS) is making waves in European real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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

The Texas Teacher Retirement System has committed US$ 755 million to five 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. ]