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Sovereign Funds a Key Driver of Institutional Real Estate Demand

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More and more sovereign wealth funds and foreign pension investors are buying up core real estate. Core markets are being saturated with yield-hungry investors, thus lowering cap rates. Public pension funds are looking to regional cities again, targeting high-income producing properties. For example, the Alaska Permanent Fund, through LaSalle Investment Management, bought the Golden Square Shopping Centre in Warrington for £141 million. Investment shifts are not limited to regions, but transitions from core to value-add real estate strategies. In March 2014, the Florida State Board of Administration made the move to allocate up to US$ 600 million to non-core real estate strategies.

Sovereign Wealth Funds Seek Core Real Estate

According to data from the Sovereign Wealth Fund Transaction Database (SWFTD), in the past 24 months, ending the second quarter of 2014, sovereign wealth funds directly invested over US$ 37 billion into institutional real estate. The majority of that capital funneled into tier cities like London, New York, San Francisco and Sydney. For Europe, Asian capital whether from sovereign wealth funds, pensions or high-net worth are pushing asset prices higher in the region.

Sovereign Wealth Funds Seek Core Real Estate

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HSBC and CIC Hold Talks on Bilateral Investment Fund

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Taking a page from the Goldman Sachs cooperative fund deal, banking giant HSBC and the China Investment Corporation (CIC) are in talks to form a £1 billion fund to invest in U.K. companies that have linkages to the Chinese economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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GIC Raises Stake in China Oilfield Services

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On November 14 2018, Singapore’s GIC Private Limited acquired 2,982,000 H- shares in China Oilfield Services Ltd at an average price of HK$ 6.9883. GIC increased its ownership in China Oilfield Services to 9.07% from 8.91%. China Oilfield Services is an oilfield services company. It is a majority owned subsidiary of Chinese state owned company CNOOC Group.

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Kazatomprom Valued at $3 Billion from Offering

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Kazakh state-owned uranium miner Kazatomprom sold 15% of its stock in a dual-listing offering in London and Astana. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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