The UK bank has backed a residential- and student housing-focused venture.
The Texas-based pension fund has worked with the team that founded Alignium since 2009.
The insurer’s real estate allocation increased from 1.5 percent in 2015 to 2.2 percent last year, according to its latest annual report released on March 23.
Stronger economic growth, the availability of debt capital, and a more positive outlook from investors are driving global property capital flows in 2017, according to the property consultancy’s latest investor survey.
The US public pension has backed two North America-focused funds.
Performance for the Canadian pension plan’s private portfolio, which continues to grow, is in line with last year’s.
Research commissioned by the trade organization also revealed that non-listed real estate funds that use currency hedging strategies experienced a reduction in risk of between 25% and 36% compared with unhedged funds.
The real estate arm of Singapore’s sovereign wealth fund entered the student housing space last year.
The Toronto-based alternative asset manager and New York pension fund are selling the 45-story building to a joint venture led by China’s HNA Group.
The UC Board of Regents will up its PE allocation for its $9.9bn endowment at the expense of public equities and fixed income, but said it will take its time and doesn’t want to ‘just fill a box’.
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