Jonathan Brasse
The real estate arm of global asset management group Franklin Templeton Investments holds a final close for its Asian multi-manager product.
State Universities Retirement System of Illinois has committed $75m to AVP Partners’ fund of funds, marking the start of a new investment strategy in the sector.
Pacific Alliance Group is to purchase $46 million in convertible bonds from Secured Capital Japan, as well as forming a strategic alliance with the Tokyo-based investment manager to purchase assets and distressed debt in Japan and China.
After substantial yield compression across Europe, real estate investors are told to track the “behaviour” and “direction” of the markets over the next 12 months before making investment decisions.
The secondary real estate fund unit market has picked up over the last 12 months, accounting for €1.1bn in transactions. With a further €230m of secondary trades in the pipeline, the market is set to continue as funds face cash calls from investors.
The annual property show in Cannes is renowned for its use of yachts as the places on which to do business. Falling delegate numbers have not impacted demand. Among the firms renting yachts this year are Aberdeen Property Investors, RREEF and Cushman & Wakefield.
Investor sentiment is on the decline as the region suffers from a decline in petro dollar surpluses coupled with the wider global economic turmoil.
London based Palmer Capital Partners and 30 directors at UK property services firm GVA Grimley, are to launch a £75 million property fund aimed at buying distressed assets at bottom of the market prices.
Peter Rhodes, managing director at Reed MIDEM UK says there will be fewer parties at the world’s largest property event as firms send fewer junior executives and the number of non-paying visitors decline.
An undisclosed shareholder at Indian real estate fund Trikona Trinity Capital has asked the fund to sell its assets “in the best interests of the company and the shareholders”, according to a filing on the UK’s AIM stock market.
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