Real Estate Investments, More Attractive for Sovereign Wealth Funds
Data: Nov 2014, Sovereign Wealth Fund Transaction Database
According to data from the Sovereign Wealth Fund Transaction Database, sovereign wealth funds in total invested US$ 17.5 billion for the first 3 quarters of 2014 versus US$ 12.95 billion for the first 3 quarters of 2013 in direct real estate, a whopping 35.1% increase. The competition for core real estate assets is mounting in cities like New York, London, Paris and San Francisco.
Core, Industrials, Development
For example, the Alaska Permanent Fund Corporation (APFC) recently acquired a 50% interest in two shopping centers in Spain and Portugal in a €280 million transaction with Immochan. Across the Atlantic, Singapore’s GIC is leading an investor group to acquire Chicago-based IndCor Properties Inc from the Blackstone Group.
The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.
-
2 weeks agoSaudi Sovereign Fund Buys Big Stake in Tesla
-
2 weeks agoPGGM Acquires Solar and Wind Assets in USA
-
2 weeks agoNew CFIUS Could Impact Private Equity Raising and Profits
-
2 weeks agoPipeline Politics Entangles US, Qatar, and China
-
3 weeks agoDEEP DIVE: CPPIB Makes its Case for Core Infrastructure
-
2 weeks agoPuget Sound Energy is now Majority Owned by Public Pensions
-
3 weeks agoHong Kong Monetary Authority Reveals Life Annuity Scheme
-
2 weeks agoBNY Mellon Hires Akash Shah, Embraces Future of Finance Mentality