Connect with us

NBIM Prologis Partnership Sold Three Bay Area Properties

Published

on

A partnership formed by Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (NBIM), and Prologis, sold three logistics properties in the San Francisco Bay Area to JLL Income Property Trust. JLL Income Property Trust is managed by LaSalle Investment Management.

Norges Bank Real Estate Management received US$ 38.3 million for its 45% ownership interest in the properties. The properties were acquired by the partnership during development in May 2015, and Norges Bank Real Estate Management paid US$ 24.3 million for its ownership interest. One of the sold properties was the Pinole Point Distribution Center, a Class-A 41,000 square foot warehouse.

The sales agreement was signed on September 8, 2016 and the other date was December 28, 2016. It was completed in two stages.

Colony Capital Picks Up LATAM Unit of Abraaj Group

Published

on

After negotiations, Tom Barrack’s Colony Capital agreed to purchase The Abraaj Group’s private equity platform in Latin America. The Latin American unit of Abraaj has around US$ 500 million in assets under management. The unit will be renamed to Colony Latam Partners, which will continue its focus on middle-market investments in Chile, Mexico, Colombia, and Peru.

Deloitte and PricewaterhouseCoopers (PwC) assisted in the transaction.

According to the press release, unit partners Miguel Angel Olea Sisniega, Hector Martinez Fry, Gerardo Mendoza Llanes, and Eduardo Cortina Murrieta will continue to lead the business.

Abraaj Group remains under a court supervised restructuring effort in the Cayman Islands.

Continue Reading

Henry Jones Named Board President at CalPERS

Published

on

The California Public Employees Retirement System (CalPERS) posted a -3.9% for the calendar year ended December 31, 2018. At this point, CalPERS is approximately 65% to 66% funded.

In addition, CalPERS is current searching for a permanent private equity director. CalPERS is still deciding on whether to change its approach to private equity investing by forming outside entities to make investments.

Last, the board of CalPERS named Henry Jones as board president.

Continue Reading

LAPFF Explores Direct Real Estate Investing

Published

on

The Los Angeles Fire and Police Pensions (LAFPP), a smaller pension compared to its larger peers such as the Los Angeles County Employees Retirement Association, is considering forming a direct real estate investment strategy that would be managed internally. LAPFF staff requested the pension’s real estate consultant The Townsend Group to explore the feasibility of creating an in-house real estate managed portfolio.

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.