Evelyn Lee
Real estate managers continue to account for the largest share of global alternative investments, according to a new survey from Towers Watson.
The lead investors in the Boston- and Greenwich, Connecticut-based private equity real estate firm’s first commingled fund helped to steer additional capital to the vehicle, which became oversubscribed less than a year after its official launch.
CalPERS’s purchase of a major stake in real estate investment advisor Bentall Kennedy will provide the largest pension fund in the US with an inside knowledge of the investment management business.
The $19.5 billion pension fund has decided to pull its $100 million commitment to H/2 Capital’s core debt fund after the two parties failed to reach an agreement on contract terms.
The endowment’s $75 million allocation to The Blackstone Group is the initial capital outlay of approximately $225 million in non-core commitments that the state is expected to make this year.
The US government’s development finance agency will help to leverage investments by Actis’ second African real estate fund, which will develop commercial properties in the sub-Saharan region.
In entering the North America market, the Australia-based industrial property company will be partnering with California-based Birtcher Development and the Canadian Pension Plan Investment Board to develop and invest in logistics and industrial facilities across the region.
The San Francisco-based real estate investment manager has wrapped up fundraising for its debut value-added fund. The firm also recently made its fourth acquisition on behalf of the vehicle.
The Lehman Brothers spinout and the New York-based developer and investor have refinanced 110 William Street in downtown Manhattan with $161.5 million in new financing, which included a mezzanine loan from Pearlmark Real Estate Partners.
The New York-based accounting and consulting firm has recruited Byron Carlock for the newly created position of US real estate practice leader. The firm also is seeking to hire a real estate leader to oversee the Asia market.
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