Real Estate

Friday SWFI News Roundup, July 3, 2015

NEST Has a New CEO The UK’s National Employment Savings Trust (NEST) has named Helen Dean as CEO. She is replacing Tim Jones who left in February 2015. Currently, Dean serves as NEST’s executive director for product and marketing. She joined NEST from the Department for Work and Pensions (DWP) in 2014 Ivanhoé Cambridge Allocates [...]


ADIA and Lend Lease Move Forward with $1.49 Billion Syndication

Development giant Lend Lease and the Abu Dhabi Investment Authority (ADIA), through its subsidiary HIP, are going forward to raise a S$2 billion (US$ 1.49 billion) loan into syndication. They have hired Sumitomo Mitsui Banking Corporation (SMBC), Oversea-Chinese Banking Corporation Limited (OCBC) and DBS to assist. [ Content protected for Sovereign Wealth Fund Institute Standard [...]


Qatar Investment Authority Acquires Stake in Tallest Barangaroo Tower

Lend Lease has spun-off Tower 1 at Barangaroo South, the largest commercial tower in the group, into a separate wholesale fund that is backed by the Qatar Investment Authority (QIA) and Australian Prime Property Fund Commercial, a Lend Lease-managed fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


Manulife Financial Woos Asian Investors, Plans to IPO REIT in Singapore

Manulife Financial Corporation is moving forward on having an initial public offering of Manulife Asset Management’s real estate investment portfolio holdings. The mega Canadian insurer is taking orders from investors to raise up to US$ 450 million. The offering is being structured as a real estate investment trust (REIT). What is interesting is that the [...]


ADIA and NYSTRS Put Atlanta Office Complex on the Market

The Abu Dhabi Investment Authority (ADIA) and New York State Teachers’ Retirement System (NYSTRS) are putting a large Atlanta office complex on the market. Eastil Secured is representing the sellers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Ivanhoé Cambridge and APG Drop $920 Million on Chongbang Group

Ivanhoé Cambridge, the real estate unit of Caisse de Depot et Placement du Quebec (CDPQ), and APG Asset Management N.V. together invested US$ 920 million in Chinese retail property firm Chongbang Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


India deals

CPPIB Indian Property Venture Acquires SP Infocity IT Park

Canada Pension Plan Investment Board (CPPIB) and Mumbai-based Shapoorji Pallonji Group, through their joint investment unit SPREP Pte Ltd. (CPPIB owns 80% of the unit), is making its first investment acquiring 100% of the securities of Faery Estates Private Limited. India-based Faery Estates owns, operates and manages SP Infocity IT Park in Chennai, India. The [...]


AustralianSuper Completes Mega DC Property Portfolio Deal

AustralianSuper, Australia’s biggest superannuation fund, finalized its US$ 1.32 billion transaction to purchase a 49% interest in a portfolio of DC office properties controlled by Brookfield Property Partners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, June 19, 2015

RISK: Norway’s Sovereign Fund CEO Questions China Sell-Off Recent volatility in mainland Chinese equity markets are posing signals to large institutional investors about potential fundamental issues occurring in Asia’s giant. NBIM CEO Yngve Slyngstad in a Bloomberg interview, after giving a speech in Oslo, commented, “You have to spend time thinking about both the valuation [...]


Public Investors Sell Bentall Kennedy to Sun Life Financial

Sun Life Financial is buying real estate investment manager Bentall Kennedy Group for C$ 560 million. U.K.-based Sun Life, owned by AXA Group, is looking to grow its exposure to property investments and investors in real estate. Increasingly, institutional investors such as pensions and wealth funds are allocating higher percentages of capital toward real estate. [...]


sovereign wealth india

GIC Commits Capital to West Bengal Real Estate

Singapore’s GIC Private Limited is on the lookout for high-quality residential real estate in West Bengal. The wealth fund is keen on investing in so-called smart developments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Asian Sovereign Wealth Centers on Continental Euro Properties

UPDATE: June 17, 2015 The CIC has won the bid, putting out €1.3 billion for the property portfolio. Asian sovereign wealth funds are looking across the channel into France, Belgium, Germany and Spain for high-quality real estate properties. Stunned by the expensive prices of London core properties, many sovereign funds and Canadian pensions have set [...]


Friday SWFI News Roundup, June 12, 2015

NBIM Plans to Open Tokyo Office Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, plans to open an office in Tokyo. This is in anticipation of the wealth fund participating in real estate deals in Asia. Currently, NBIM is recruiting and building a team for the proposed Tokyo office. This would [...]


sovereign wealth fund center asia

GIC Expands Ownership in China’s Franshion Properties

Singapore’s GIC Private Limited invested around HK$ 1.16 billion in new shares of Franshion Properties (China) Limited. The placed shares represent approximately 17.64% of the existing issued share capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, June 5, 2015

Investor Group Bids for BrisConnections Melbourne-based toll-road operator Transurban Group, AustralianSuper and the Abu Dhabi Investment Authority (ADIA) are looking at BrisConnections toll road group. The investor group is reportedly bidding A$ 1.3 billion for BrisConnections, which operates Brisbane’s toll road AirportlinkM7. Macquarie Capital and Fort Street will be hosting roadshows for BrisConnections. Potential competitive [...]


CPPIB Makes Greater Inroads in Spanish Shopping Centers

Intu Properties plc and Canada Pension Plan Investment Board (CPPIB), through its wholly-owned subsidiary, CPP Investment Board Europe S.à r.l. – are forming a joint venture to jointly own Puerto Venecia shopping centre in Zaragoza, Spain. The new JV is similar to an existing partnership Intu and CPPIB have in Spain through the Parque Principado [...]


SOFAZ to Invest in Yuan Denominated Bonds

The State Oil Fund of Azerbaijan (SOFAZ) plans to invest up to US$ 500 million in bonds that are denominated in Chinese Yuan this month. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth and Institutional Money Invest in Munich Offices

Gingko Tree Investment Ltd., a unit of China’s SAFE Investment Company and Pramerica Real Estate Investors, a unit of Prudential Financial Inc., have acquired more than 50% of funds that own the Siemens Campus in Munich-Neuperlach. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Institutional Investors Back Colonial Bond Issue

Spanish property company Inmobiliaria Colonial issued 4-year and 8-year notes, respectively €750 million and €500 million issues. The bond raise will chop Colonial’s financing costs by approximately 50%. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

Friday SWFI News Roundup, May 29, 2015

GIC Bids for in Exora Business Park Singapore’s GIC Private Limited is in the front of the pack in acquiring a 60% stake in Exora Business Park from Indian real estate firm Red Fort Capital. Other bidders are Singapore-based Ascendas and the Blackstone Group. The property is located in Bangalore. Institutional Money Agreements for Egypt [...]