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Alaska Permanent Fund Buys Stake in 299 Park Avenue

The Alaska Permanent Fund which as of August 24, 2011, had a value of US$ 37.58 billion in assets has purchased a stake in a Class A New York property. The APFC is an active investor in core real estate throughout the United States.

The Rockpoint Group was the seller in this transaction. The 49.5% stake was for an office property on 299 Park Avenue at the cost of $1,075 per square foot. The real estate deal has revalued the whole property at US$ 1.25 billion. The majority owner is developer Fisher Brothers who occupies the top two floors of the building. The Park Avenue office building was completed in 1967.

The building is well leased by several financial firms, including being the New York City headquarters for UBS Investment Bank.

Brief History
Jan 2010 – UBS sells 49.5% stake to Rockpoint Group for US$ 150 million in cash and assumes US$ 325 million mortgage

Former U.S. Treasury Secretary Jacob Lew Joins Lindsay Goldberg

New York-based buyout firm Lindsay Goldberg LLC has announced that Former U.S. Treasury Secretary Jacob J. Lew will join the company as a partner focusing on investments across sectors, institutional relationships, and firm management, according to an announcement released on Monday, November 20. Lindsay Goldberg is a private equity firm co-founded by Alan E. Goldberg and Robert D. Lindsey, both veterans of Morgan Stanley in which they worked in the Transaction Development Group.

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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Institutional Investors Remain Skeptical as Bitcoin Continues to Rise

Bitcoin has continued to rally over the past month – hitting a record US$ 8,224 in the early hours of November 20 – and institutional investors are beginning to take notice of the cryptocurrency’s increasing popularity. With a market value of more than US$ 130 billion, the digital currency has seen unprecedented growth of over 700% over the past year. But Bitcoin’s rise has also been marked by a number of volatile slumps, leaving institutional investors divided over its durability as a long-term store of value and wondering whether to get in on the action. Despite these headwinds, more than 100 hedge funds have been formed to trade in digital currencies.

Split Consensus on Wall Street

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