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LP Radar – April 2016

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

29 April

Washington State Investment Board (WSIB) has approved a follow-on investment of $600 million to Evergreen Real Estate Partners. WSIB has previously committed $3.5 billion to Evergreen in $500 million tranches beginning in 2004.

 

27 April 

New Mexico Educational Retirement Board has earmarked $80 million to Kildare Partners' European Partners Fund II.

New England Pension Consultants (NEPC) has issued an Emerging Manager Real Estate Request for Information from managers targeting at least $100 million for a US-focused fund.

Finnish Local Government Pensions Institution (KEVA)’s real estate investments returned 0.7% for the first three months of the year, ‘expectedly meagre’, as described by the Chief Investment Officer.

The committee of School Employees' Retirement System of Ohio approved a $55 million commitment to Lubert Adler Urban Neighborhood Fund, which invests with a non-core strategy.

 

26 April

Arkansas Teacher Retirement System has approved a commitment of $25 million to Harbert European Real Estate Fund IV, a value-add real estate fund focused on office, industrial, retail, and residential investments in major European markets.

 

25 April 

GIC Private Limited has made multiple senior management appointments. Lee Kok Sun is named chief investment officer for the real estate investment department. He will assume office in June 2016.


22 April

Two Dutch pension schemes, Kapper Pension and True Blue Pensioen increased their allocation to Syntrus Achmea's residential fund to EUR33.4 million and EUR7 million respectively.

Ohio State Highway Patrol Retirement System's board has committed $15 million to the PIMCO Corporate Opportunities Fund II.

South Dakota Investment Council has committed up to $300 million each to Blackstone Real Estate Partners Europe V and Lone Star Real Estate Fund V.

 

21 April

Arapahoe County Retirement System has committed $10 million to Harbert U.S. Real Estate Fund VI, a value added vehicle managed by Harbert Management.

Caisse de dépôt et placement du Québec is moving to consolidate the firm's investments into public and private companies, which will be managed by the firm's Chief Investment Officer. Additionally, all top-down activities related to the overall portfolios and research will be amalgamated into a new division.

 

18 April 

The Korea Investment Corporation has promoted Mr. Sangjoon Kim to chief operating officer and a member of Executive Management.

National Railroad Retirement Investment Trust has named William Carr, acting Chief Executive Officer and Chief Investment Officer, as the new Chief Executive Officer of the $25 billion pension fund.

 

15 April

San Francisco Employees' Retirement System approved a $100 million commitment to Gateway Real Estate Fund V at its board meeting on February 10.

 

14 April

California Public Employees' Retirement System has picked Courtland Partners and Pension Consulting Alliance as finalists in its real estate consultant search. The firms are invited to appear before the investment committee for oral interviews in May.

 

13 April

Alameda County Employees Retirement Association's investment committee is going to discuss and possibly recommend a new real estate investment to the board at a meeting today.

 

11 April

Ohio Bureau of Workers' Compensation has approved a $50 million commitment to Sares-Regis Multifamily Value-Add Fund II.

 

8 April

Teacher Retirement System of Texas has committed $100 million to AEW Value Investors Asia II. The transaction was finalized on March 31.

Kansas Public Employees' Retirement System has approved $50 million to Jamestown's Premiere Property Fund, an opened-ended fund targeting offices and retail properties in San Francisco and New York City.

 

7 April

Houston Municipal Employees' Pension System approved a $20 million commitment to GEM Realty Fund VI at the March 24, 2016 meeting.

Vermont State Retirement System's Investment Committee will soon commence a search for its first international real state manager.

Florida State Board of Administration has hired Stockbridge Capital Group and MetLife Real Estate Advisors as advisers for internally managed real estate.

 

5 April

New York State Common Retirement Fund has allocated $400 million to Brookfield Strategic Real Estate Partners II and set aside additional $100 million for the corresponding co-investment vehicle.


4 April 

Pensioenfonds PNO Media has committed EUR50 million to Syntrus Achmea's Dutch Retail Property Fund.


1 April

Alaska Permanent Fund has hired Russell Read as its Chief Investment Officer, the institution announced earlier this week. Mr. Read most recently worked as the CIO of the Gulf Investment Corporation.

 

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