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Alaska Permanent Fund Commits £250 Million to UK Real Estate

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The Alaska Permanent Fund Corporation (APFC) committed £250 million to LaSalle Investment Management for commercial European real estate. Late to the U.K. property party, this is the first time the APFC has allocated capital directly to European commercial real estate. The capital committed will be managed in a custom U.K. real estate separate account. The money will target properties between £50 million and £150 million, and will consider all sectors, including mixed use.

The Alaskan sovereign wealth fund has an existing institutional relationship with LaSalle. The APFC has nearly US$ 900 million invested with LaSalle in U.S. institutional real estate.

In a LaSalle press release, Michael Burns, executive director at the Alaska Permanent Fund Corporation, said: “While the entry into Europe is clearly expected to provide diversification benefits, the increased capital dedicated to real estate (both domestically and globally) compels us to expand our footprint and opportunity set. We are excited to team up with LaSalle in the UK and are encouraged at the pipeline of opportunities.”

Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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