LP Radar: April 2015

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

30 April

At its board meeting today, the Pennsylvania Public School Employees' Retirement System is considering a $75 million investment in LEM Capital’s Multifamily Senior Equity Fund IV.

 

  29 April

The Orange County Employees Retirement System announced that it intends to move capital from its foreign REITs portfolio and into private real estate funds. Additionally, the System announced that it is planning to invest $75 million in a value-add strategy, focusing on US apartments.

 

28 April

The Indiana Public Retirement System committed a total of $125 million to two funds: $75 million to Blackstone Real Estate Partners VIII and $50 million to Abacus Multi-Family Partners III.

 

27 April

Arizona State Retirement System has committed $100 million to Blackstone Real Estate Partners VIII.

Tom Hanna, Chief Operating Officer and Chief Financial Officer of the Massachusetts Pension Reserves Investment Management Boardis leaving his position. Davis Gurtz, former deputy Chief Investment Officer and director of Risk Management, will step into both roles on an interim basis.

 

 24 April

The South Carolina Retirement System committed $75 million to the Brookfield Strategic Real Estate Partners 2


23 April

Ohio School Employees Retirement System has committed $75 million to Lubert-Adler Real Estate Fund VII.

 

22 April

New York State Teachers' Retirement System has committed $75 million to Penwood Real Estate Investment Management's Select Industrial Partners IV fund.

At a meeting earlier this month, Lubbock Fire Pension Fund approved a $10 million commitment to Blackstone Real Estate Income Fund. 

 

21 April

Telstra Superannuation Fund manages A$1.5 billion real estate assets and majority of the assets are commercial and industrial properties. In the future, Telstra will assess investment opportunities on a case-by-case basis.

The University of Michigan committed $55 million to two real estate funds at its meeting last week; $30 million to Magna Hotel Fund V and $25 million to Balboa Retail Fund I.

 

 20 April

Texas Permanent School Fund has committed $50 million to Rockpoint Real Estate Fund V.

 

17 April

In a meeting this week, Los Angeles City Employees' Retirement System are to vote on a $20 million recommendation to commit to Gerrity Retail Fund 2.

 

16 April 

San Diego City Employees’ Retirement System and Kansas Public Employees Retirement System have chosen JP Morgan as their real estate fund manager to make core real estate investments. The capital is expected to be called in four to five quarters later. 

The Pennsylvania Public School Employees' Retirement System appointed Glen R. Grell as its new Executive Director, effective 1 May.

 

15 April 

Tennessee Consolidated Retirement System has committed $50 million commitment to the Carlyle Group’s US-focused Realty Partners VII fund and plans to commit $50 million to the CBRE Global Investors’ Strategic Partners US Value Fund VII.

According to recently released documents, South Dakota Investment Council approved a $300 million commitment to Blackstone Real Estate Partners VIII. 

 

 14 April 

State of Wisconsin Investment Board committed $150 million to UBS Trumbull Property Fund and $120 million to J.P. Morgan Strategic Property Fund. The board had committed $20 million to the UBS fund in August 2012.

At its April real estate committee meeting, the Los Angeles Employees' Retirement Association is planning to invest up to $875 million in real estate for its 2015-2016 fiscal year. Of this amount, $550 million will be focused on a separate account equity investment, $200 million for a debt-oriented separate account and $125 million in new fund commitments. The plan will be brought up for approval at its 10 June board meeting.

 

 13 April 

China Life Insurance and Ping An Insurance have co-invested in a Boston project. The project is their first real estate investment in the US and their first real estate co-investment outside of China.

 

10 April 

The Ohio Bureau of Workers Compensation Board has approved 12% allocation for real estate investments and is looking for a real estate core-plus fund which focuses on office, industrial, retail and apartment sectors. 

 

9 April 

The New Mexico Educational Retirement Board revealed that it had approved $70 million in commitments to two private real estate funds: $40 million to the Ram Realty IV and $30 million to the Sares Regis Fund II.

 

 8 April 

St. Louis Police Retirement System has committed $37 million to a private real estate fund managed by Principal Real Estate Investors.

The Texas Municipal Retirement System hired Courtland Partners as its real estate consultant, pending successful contract negotiations.

 

7 April 

At last its March board meeting, New Mexico PERA committed $60 million to KSL Capital Partners IV, an opportunistic real estate fund.

 

6 April 

The Ohio Police & Fire Pension Fund committed $120 million to two funds: $70 million to the Blackstone Real Estate Partners VIII and $50 million to the Gerrity Retail Fund II. 

  
2 April

In March 2015, Illinois TRS committed $150 million within the real estate portfolio to Clearlake Capital Group.

 

1 April

In March 2015, the University of Michigan committed $20 million to Turner Multifamily Impact Fund.

 

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