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LP Radar – December 2015

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

23 December

City of Phoenix Employees' Retirement System has committed $40 million to Real Estate Capital Core Fund.

Norges Bank Investment Management, a sovereign wealth fund, has made Karsten Kallevig property CEO.

 

22 December 

Illinois Municipal Retirement Fund (IMRF) has committed $25 million to LaSalle Income & Growth Fund VII. IMRF has an existing relationship with LaSalle.

University of Michigan has committed $32 million to Patron Capital Fund V. The fund is going to invest in Spanish property.

 

18 December

Earlier this month, Pennsylvania Public School Employees' Retirement System committed $100 million to Blackstone Real Estate Debt Strategies III, in accordance with the recommendation of Courtland Partners dated November 11.

 

15 December 

Pennsylvania State Employees' Retirement System has approved a new two-year strategic investment plan in which real estate becomes a stand-alone asset class with an annual pacing range of between $100 million and $200 million.

 

9 December

CBRE Group has appointed Alan Li as head of capital markets for the Greater China region, strengthening the country operations. This is a newly-created role for the property services firm. Mr. Li will begin his role in mid-December.

 

8 December 

New Zealand Superannuation Fund is lining up the sale of a portfolio of stakes in 12 to 15 private real estate funds representing approximately $500 million of equity commitments. The pension fund has appointed advisors to oversee the sale.

 

7 December

Maryland State Retirement and Pension System has committed $75 million to FCP Realty Fund III.

 

4 December

Texas County and District Retirement System has committed 50 million to Perella Weinberg Real Estate Fund III.

 

3 December

According to a report by the Bureau of Investment, in the quarter ended September 30, Michigan Department of Treasury committed $50 million to TPG Real Estate II.

TIAA Henderson has hired Harry Y. Tan as Head of Research for the Asia-Pacific region, with effect from December 1, 2015. Mr Tan will be based in the Singapore office and will report to Chris Reilly, Managing Director, Asia Pacific.

 

2 December

Arkansas Public Employees Retirement System has committed $50 million to TA Realty's Associates Fund XI.

 

1 December

City of Fresno Retirement Systems is accepting proposals from investment managers to manage a value-add/opportunistic real estate portfolio. The focus will be on US strategies only for a commitment of up to $30 million during 2016.

 

To view last month's LP Radar, click here.