LP Radar – May 2015

See the latest PERE LP updates, including allocation changes and people moves.

 

29 May

 New Jersey Division of Investment will shift the real estate focus from core strategy to value-add and will deploy $1 billion to it. It has also allocated $125 million to TPG Real Estate Partners II. 

California State Teachers Retirement System  has committed $200 million and $150 million to Fortress Group's FCO MA IV Fund and Blackstone's Real Estate Partners' VIII respectively.

 Illinois Municipal Retirement Fund has committed $75 million to Crow Holdings Realty Partners VII; $25 million to Oak Street Real Estate Capital Fund III and $50 million each to Rockwood Capital Real Estate Partners Fund X and the Realty Associates Fund XI. 

 28 May

San Diego City Employees' Retirement System has committed $20 million each to Long Wharf Real Estate Partners V and Torchlight Debt Opportunity Fund V. 


27 May

London Pensions Fund Authority has chosen Apollo Capital Management to manage its £150 million debt portfolio including distressed debt, real estate debt and leveraged senior loans.

 

 26 May

Allianz has committed £100 million to an open-ended fund, Unite UK Student Accommodation Fund.

The San Diego County Employees' Retirement Association appointed Stephen Sexauer as the Associations' Chief Investment Officer. He will begin his new role on 29 May.

 

 22 May

Danville Employees Retirement System is looking for a manager to run $25 million in a core, core-plus or value-added fund and it will consider both open- and closed-end funds.

 

 21 May

The Employees Retirement System of Texas plans to invest up to $300 million in real estate commitments in its fiscal year 2016. The System will aim for as many as 15 commitments with an emphasis on value-added and opportunistic strategies.

 

 

20 May

Maine Public Employees Retirement System has committed $25 million to High Street Realty Company's Fund V.

 

 

19 May

San Francisco Employees' Retirement System has committed €100 million to NIAM's Nordic VI which targets commercial and residential properties.

 

 18 May

The Employees' Retirement System of the State of Hawaii committed $20 million to the Torchlight Debt Opportunity Fund V.

 

14 May

The Teacher Retirement System of Texas committed a total of $800 million to three funds: $200 million to Brookfield Strategic Real Estate Partners II, $300 million to Lone Star Real Estate Fund IV and $300 million to Blackstone Real Estate Partners VIII.

 

13 May

State of Wisconsin Investment Board has committed $75 million and $150 million to Penwood’s Select Industrial Partners IV and Blackstone Real Estate Partners VIII respectively.

 

 12 May

The San Diego County Employees' Retirement Association appointed Greg Bych as the Assocaitons' new Chief Financial Officer. He will begin his role in 8 June.

 

11 May

Deutsche Asset & Wealth Management has hired Kevin White as Director and Head of Investment Strategy for its Alternatives & Real Assets business.

 

 8 May

The Oregon Public Employees Retirement Fund has committed $150 million to Madison Realty Capital’s third debt fund.

 

 7 May

State Universities Retirement System of Illinois has committed $35 million each to Blue Vista Real Estate Partners IV, Brookfield Strategic Real Estate Partners II and Crow Holdings Realty Partners VII.

A recently disclosed document shows New York State Common Retirement Fund committed $300 million to Blackstone Real Estate Partners VIII. The fund, which closed earlier this year, is now the largest ever real estate fund to close at $15.8 million.

 

6 May

In March, the Virginia Retirement System committed a total of $250 million to two funds: $150 million to the Blackstone Real Estate Partners VIII and $100 million to the Penwood Select Industrial Partners IV.

 

5 May

In the first quarter of 2015, Florida SBA committed to three real estate funds, overseen by investment consultant Townsend Group. The pension fund committed $50 million, $100 million and €50 million to CIM Fund VIII, Rockpoint V and Capman Nordic Real Estate Fund respectively.

To see the previous LP Radar, click here