Evelyn Lee
The $84.2 billion pension plan’s commitment to Evergreen Real Estate Partners represents its latest investment in private real estate operating companies.
How one US pension plan is revising the definition of a ‘commingled’ fund to speed up investment
The $58.6 billion pension plan will make an additional allocation to an existing $300 million commercial real estate separate account sponsored by debt fund manager Talmage, formerly Guggenheim Structured Real Estate Advisors.
Matt Khourie, head of CBRE Global Investors, says the world’s biggest real estate investment manager is seeing twice as much capital coming into separate accounts than is coming into its funds.
The $39.2 billion pension plan will invest in its second solo vehicle with Los Angeles-based real estate emerging manager CityView, which will target multifamily development and redevelopment opportunities in the San Francisco Bay Area.
Even as investors reduce the size of their manager pools, there are still ways for first-time fund sponsors to get their share of capital.
The Menlo Park, California-based private equity firm has closed on its debut deal for TechCore, a $500 million core real estate separate account launched earlier this year with the largest US public pension plan.
The New York-based real estate investment firm has held a first close for its $1 billion opportunistic debt fund, collecting commitments from investors that include the Contra Costa County Employees’ Retirement Association and the South Carolina Retirement System.
Scott Dwyer, formerly the general manager for ING Real Estate’s asset management business in Europe, has joined the Chicago-based real estate investment management firm as its new head of portfolio management in Europe.
Washington, DC-based real estate advisory firm RCLCO has hired Paige Mueller, formerly a senior vice president at the Singapore sovereign wealth fund, to head up its new institutional real estate advisory services business.