Real Estate

China Life Finances ElmTree US Portfolio with $950 Million Recap

For quite some time, China Life Insurance Group, the largest financial insurance corporation in China, has signaled a desire to invest in overseas fixed income investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s SWF Portfolio Net Rental Income Could Reach $1 Billion by 2018

Norway’s Government Pension Fund Global (GPFG) is active in the world of institutional real estate. The wealth fund generated US$ 886.46 million worth of net rental income in 2016 versus US$ 124.38 million in 2012. For those new to institutional real estate, net rental income is the income remaining after subtracting qualified expenses from the […]


USS Buys UK Education Portfolio from Epiris Managers

Universities Superannuation Scheme (USS), through its investment unit, spent £95 million to buy the PINE Unit Trust from Epiris Managers LLP, a London-based private equity fund manager. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 23, 2017

Ping An Insurance Leads Series A in Huya China Ping An Insurance Overseas (Holdings) Ltd., a unit of Ping An Insurance, led a US$ 75 million Series A round in Huya. Huya is a live-video streaming platform owned by YY Inc, a Chinese listed social networking platform. Other investors in the round include Engage Capital, […]


State Street Financial Center Gets Some Refinancing, Foreign Investors Participate

The skyline-piercing, 36-storey State Street Financial Center, located in Boston’s Financial District, is owned by patriarchs of the Brooklyn-based Kestenbaum family through Fortis Property Group, LLC. Fortis Property Group is based in New York and has amassed a real estate empire through a variety of means. In 2003, State Street Financial Center, originally conceived as […]


UC California Investment Office Attracts APG and TRS Executives

The sizable endowments, pensions and funds managed by the University of California investment office has attracted high-level public-side professionals globally. UC Investment Office CIO Jagdeep Bachher is the former executive of the Alberta Investment Management Corporation (AIMCo), which oversees funds like Alberta’s Heritage Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


India deals

Ascendas-Singbridge and Semcorp Industries Awarded Master Development Rights to Amaravati Startup Area

Amaravati is a planned city on the southern banks of the Krishna River – it is also the new capital city of the Indian state of Andhra Pradesh. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


QIC Eyes Mall Portfolio Deal with Forest City Realty Trust

Forest City Realty Trust, Inc. and Brisbane-based QIC have a U.S. real estate retail joint venture that was formed in 2013. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 17, 2017

APG Continues to Play in Dutch Residential Leasing Market APG Asset Management is part of a group of investors to kick in an additional €280 million into a portfolio of Dutch residential rental properties overseen by Rotterdam-based Vesteda. The money will target opportunities in the areas of Ranstad, Brabant and other cities in Netherlands. Vesteda […]


Hamilton Lane Eyes Europe to Grow Business

Bala Cynwyd, Pennsylvania-based Hamilton Lane recently had its initial public offering (IPO) earlier in 2017. Armed with more cash, the private equity / alternatives firm is betting on Europe to grow sales. Pension funds in Europe are increasingly allocating to low-cost beta products, while awarding mandates to private equity funds. In 2016, Hamilton Lane had […]


CPPIB and IndoSpace Forge Joint Venture

The Canada Pension Plan Investment Board (CPPIB) continues to seek out Indian partners to invest in institutional-quality real estate within the sub-continent. Indospace is one of India’s biggest developers in the industrial and logistics real estate sector. CPPIB and IndoSpace formed IndoSpace Core, a joint venture that will focus on acquiring and developing modern logistics […]


Wealth Fund Capital to Invest in Major Moscow Real Estate Development

The former airfield Tushino in the North-West of Moscow is getting capital commitments from a wide swath of institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


roads

Norway’s SWF Expands Regent Street Partnership with The Crown Estate

Norway’s Government Pension Fund Global (GPFG) has strategically expanded its presence in central London. The Regent Street Partnership is a venture between Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (NBIM), and The Crown Estate. NBIM has a 25% stake in the Regent Street Partnership. The partnership acquired ownership […]


canada

bcIMC Poaches AXA IM Real Assets Global CIO

The British Columbia Investment Management Corporation (bcIMC) is beefing up its real asset human resources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 12, 2017

Temasek Participates in Another Investment Round in Virtual Reality Startup Japan-based SoftBank Group Corporation is leading a group of investors to invest in London-based Improbable Worlds Limited, a virtual reality startup. It is a US$ 502 million investment. Returning investors include Temasek Holdings, Andreessen Horowitz and Hong Kong-based Horizon Ventures. These returning investors participated in […]


Ivanhoe Cambridge Buys Into Downtown Chicago Property from Metlife

Ivanhoé Cambridge, the real estate unit of Caisse de dépôt et placement du Québec (CDPQ) and Callahan Capital Properties acquired an office building in downtown Chicago for roughly US$ 145 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Why Sovereign Wealth Funds Love Real Estate

Despite Norway’s sovereign wealth fund having a hard time finding suitable properties in Tokyo and in other core Asian cities, sovereign investors in the aggregate have steadily put capital to work in real estate. Even micro sovereign funds like the one owned by the Republic of Nauru, has ownership in Houston office real estate. The […]


SWFI First Read, May 11, 2017

Sino-Ocean Land Acquires SOMA Office Property in San Francisco Beijing-based Sino-Ocean Land, which is owned by COFCO, has acquired an office building at 1161 Mission Street in San Francisco. The anchor tenant for the building is WeWork. The seller of the building is Los Angeles-based Downtown Properties, a property business formed by Goodwin Gaw. In […]


Cascade Investment Nominated Julie Hartz to the Board of Four Seasons Hotels

Four Seasons Hotels and Resorts, which boasts large institutional shareholders such as Kingdom Holding Company and Cascade Investment, the family office of Bill Gates, has named a new board member. Julia Hartz joined the board of directors at Four Seasons Hotels and Resorts on behalf of Cascade Investment. She is the CEO and Co-Founder of […]


london

PSP Investments Gets New Digs in London

PSP Investments moved into a newly-built London office to use as a springboard for new European investment opportunities. The Europe team, some 28 professionals, at PSP Investments will focus primarily in private debt, real estate, infrastructure and private equity investments. The location of the office is at a newly-constructed building in Victoria at 10 Bressenden […]