Evelyn Lee
The $19.3 billion pension plan projects that its portfolio in the asset class will more than triple in value by the end of 2013.
The world’s largest sovereign wealth fund is planning to enter the world’s largest commercial real estate market. The timing of that decision suggests that, for some foreign investors, returns aren’t everything.
The $37.5 billion pension system plans to hire a firm to oversee a projected $200 million mandate in an effort to expand its industrial real estate portfolio.
The world’s largest sovereign wealth fund expects one-third of its real estate investments to be located in the US over the long term.
Single-family rentals have been among the most publicised real estate investment strategies of 2012, but also perhaps one of the least understood.
The emerging industry appears to have generated more attention that actual investment – and that has led to some misconceptions about the opportunity, according to one firm investing in the strategy.
The $154.8bn pension plan has completed four investments with new and existing managers, including a commitment to an opportunistic fund managed by TriGate.
In its largest equity investment to date, the Boston- and Greenwich, Connecticut-based real estate investment firm has purchased the majority of assets belonging to a Georgia homebuilder for its first institutional fund.
The asset management arm of the Swiss financial services giant has tapped its chief operating officer to oversee its global real estate business, taking over from departing head, Paul Marcuse.
The $74.5 billion pension system has earmarked a significant amount of capital to new real estate commitments for 2013, primarily through re-ups with existing managers.