Real Estate

6 Property Plays by Major Institutional Investors in Late Jan

According to the Sovereign Wealth Fund Transaction Database, which tracks public investor transactions, for some reason an unusual number of institutional investors are buying core properties in January. TIAA-CREF is in final talks to pay US$ 200 million for 837 Washington Street, a boutique office and retail building in Manhattan. The sellers are Taconic Investment [...]

TRIUMPH: Qatar Sovereign Wealth Fund Wins Battle for Canary Wharf Complex

The Qatar Investment Authority (QIA) had set its sights on London’s Canary Wharf complex. Songbird Estates controls 69% of Canary Wharf Group, owner of the Docklands estate, continually advised investors to reject the offer, still believing it was too low. After a long battle, the QIA-Brookfield bid won after three major shareholders agreed to accept [...]

Singapore Sovereign Wealth Fund Gets Approval for Auckland Property Investments

Singapore’s GIC Private Limited has received approval from New Zealand’s Overseas Investment Office (OIO) to purchase a 49% share in Auckland Viaduct properties. The GIC is investing in a joint venture with Goodman Property Trust (GPT). The NZ$ 313 million portfolio has a mandate to augment up to NZ$ 500 million over time.[ Content protected [...]

Asian Sovereign Wealth Fund Acquired Stake in Silicon Valley Complex

In recent years, Menlo Park office properties have fetched higher prices compared to post-2001 years. Sand Hill Road is known as the epicenter of venture capital. Office transactions are rare. Not only are sovereign wealth funds centering on startups like Square and Uber, a number of sovereign funds are buying up prized Silicon Valley real [...]

Friday SWFI News Roundup, January 16, 2015

Mumtalakat Holdings Signs $500 Million Loan Mahmood Hashim Al Kooheji, CEO of Bahrain’s Mumtalakat Holdings, was present at the signing of a US$ 500 million five-year loan. This occurred on January 14th, 2015. The loan has been structured as a 5-year revolving credit facility. The facility will be used to refinance existing debt. Some of [...]

TRS Puts Up Capital for Camden Property Multifamily Fund III

Teacher Retirement System of Texas (TRS) has created a US$ 450 million joint venture to invest in value-add properties across America. TRS is kicking in US$ 144 million in equity toward Houston-based Camden Property Trust’s Multifamily Fund III. TRS has invested in Camden funds before. Camden Property will allocate US$ 36 million to the fund. [...]

CPPIB Embarks on Direct Mixed-Use Development in China

Canada Pension Plan Investment Board (CPPIB) and Beijing-based Longfor Properties Company Ltd., a Chinese real estate developer, have formed a joint venture for a mixed-use development project in Suzhou, Jiangsu Province, China. The joint venture was formed on December 23, 2014. The CPPIB committed RMB 1250 (C$ 234 million) to jointly develop the Times Paradise [...]

Major Hurdle to Clear for Songbird Estates Takeover Bid

The majority owner of Canary Wharf Group Plc, Songbird Estates, is expected to reject the £2.6 billion takeover move by Qatar’s sovereign wealth fund. Canada-based Brookfield Asset Management and Qatar Investment Authority (QIA) have to muster 50% of shareholder support to move forward with the takeover. The bidders have been trying to garner support of [...]

Friday SWFI News Roundup, January 9, 2015

PIMCO CEO Hodge Bullish on Smart Beta Since 2009, PIMCO has been attempting to make serious waves in the equity management space. The Newport Beach money manager is joining the smart beta game. PIMCO is teaming up with Research Affiliates to launch a series of funds to track fundamental indexes. Research Affiliates has licensed the [...]

CPPIB Buys Interest in Uber and Square Headquarters

San Francisco’s resurgent office market has attracted more institutional investors to the stage. The Canada Pension Plan Investment Board (CPPIB) and Los Angeles-based Hudson Pacific Properties, Inc., a real estate company focused on Western U.S. real estate, formed a joint venture in which the CPPIB is acquiring a 45% interest in 1455 Market Street. CPPIB [...]

India deals

KKR and Singapore Sovereign Fund Form Indian RE Lending Platform

Singapore’s GIC Private Limited and private equity giant KKR have formed a non-banking financial company to provide loan capital for the growing real estate sector in India. This entity will be a lending platform utilizing structured credit. Since the inauguration of Indian Prime Minister Narendra Modi, institutional investor capital from sovereign wealth funds, pensions and [...]

Knight Frank Wins Lancashire County Pension RE Portfolio Mandate

The £5 billion Lancashire County Council Pension Fund has awarded a mandate to London-based Knight Frank Investment Management LLP, a unit of Knight Frank LLP, to manage national and county real estate portfolios for the pension fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Top 10 Largest Sovereign Wealth Fund Direct Deals for 2014

According to SWFI’s proprietary Sovereign Wealth Fund Transaction Database, Asian and Gulf-based sovereign wealth funds are the biggest SWF spenders when it comes to private direct deals in 2014. Other notable public institutional investors who rank near the top, based on transaction value, include Caisse de dépôt et placement du Québec (CDPQ) and Canada Pension [...]


Infratil and New Zealand Superannuation Fund Set to Buy RetireAustralia

New Zealand Superannuation Fund (NZSF) and Infratil Limited, through a 50:50 jointly-owned consortium, are acquiring a 100% interest in Brisbane-based RetireAustralia, the largest privately-held pure-play operator of retirement living in Australia. NZSF and Infratil will each own 50% of RetireAustralia. The deal is expected to close December 31, 2014. The transaction value is A$ 640.2 [...]

Why Financier Wilbur Ross Loves Ireland

Turnaround financier Wilbur Ross, Jr., through WL Ross & Co., in June 2014 sold its remaining shares in the Bank of Ireland Plc. WL Ross & Co., Toronto-based Fairfax Financial Holdings Ltd., and three unnamed investors invested €1.1 billion, essentially 10 cents per share, for a 34.9% stake in Bank of Ireland back in 2011. [...]

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 [...]