Connect with us

CalPERS and GI Partners Launch $500 Million Fund to Buy Technology Advantaged Core Real Estate

Published

on

According to the press release, “The California Public Employees’ Retirement System (CalPERS) announced today the launch of TechCore, LLC, a $500 million core real estate fund established with its real estate partner GI Partners to invest in technology advantaged properties in the United States.

The new fund, led by the Menlo Park, California-based GI Partners, will purchase data centers, internet gateways, corporate campuses for technology tenants, and life science properties located in core metropolitan cities throughout the nation and leased to industry leading tenants.

“This partnership represents the next generation of innovative investments to come in core real estate that is wired and ready to support the technology,” said Joe Dear, Chief Investment Officer for CalPERS.

TechCore is a continuation of a long-standing and successful relationship between CalPERS and GI Partners. CalPERS committed $500 million to GI Partners Fund I in 2001, an investment that generated a 31 percent net annualized internal rate of return. CalPERS committed additional capital to GI Partners Funds II and III and has awarded GI Partners select separate account mandates including CalEast Global Logistics, LLC, a transportation advantaged warehouse and logistics real estate owner and operator.”

Read more: CalPERS Press Release

SWFI First Read, September 21, 2018

Published

on

U.S. Public Becomes More Aware that Gmail Scans Emails

Alphabet is a major stock holding for sovereign wealth funds and large pensions. Search giant Google is under fire for allowing third-party partners and companies, like Return Path Inc and other advertisers, to share data from Gmail accounts. Many experts and tech observers already knew this, but more people in the public are becoming aware of Google’s practices when it comes to privacy. Google disclosed in a letter to U.S. lawmakers this finding. The Wall Street Journal reported that in some instances, app companies were able to read people’s emails in order to improve their algorithms. In 2017, Google said they would stop scanning all of one’s Gmail messages for the goal of personalized ads.

GPIF Infrastructure Exposure Almost Reached 200 Billion Yen in March 2018

Japan Government Pension Investment Fund’s (GPIF) exposure to infrastructure real estate was 196.8 billion JPY at the end of March 2018. At that period, 57% of the exposure was to the UK, 15% was to Australia, 15% to Sweden, 10% to Spain and 3% to Finland. 21% of GPIF’s infrastructure portfolio was linked to airports versus 27% to ports.

AIMCo-backed sPower Closes $498.7 Million Bond Deal

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Iceland Contemplates a Sovereign Wealth Fund

Published

on

The Government of Iceland is looking to possibly form a sovereign wealth fund to stabilize the country from unforeseen shocks to the national economy. The Iceland government released a statement saying, “The state’s contributions to the Fund will be equivalent to new revenues from publicly owned power production companies which are expected to accrue in the coming years.”

Continue Reading

CBRE Global Wins First GPIF Global Real Estate Mandate

Published

on

Japan Government Pension Investment Fund (GPIF) awarded its first global real estate mandate by hiring CBRE Global Investment Partners Limited. This is a global core real estate fund-of-funds separate account. Overseeing this mandate as a gatekeeper is Asset Management One Co., Ltd., which is a unit of Mizuho Financial Group. This RFP was launched in April 2017.

CBRE Global Investment Partners is the multi-manager arm of CBRE Global Investors.

In addition, on August 8, 2018, GPIF hired two custodians for short-term investments. These custodians are Trust & Custody Services Bank, Ltd and The Master Trust Bank of Japan, Ltd.

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.