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LP Radar – February 2016

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

29 February

According to last week's meeting minutes, Indiana Public Retirement System committed $50 million to Rockpoint Real Estate Fund V, effective December 22, 2015.

 

26 February

The Ohio Police & Fire Pension Fund's board has approved the 2016 Private Markets Investment Plan. It will target aggregate capital commitments of $235 million over the next year.

 

25 February

Cornerstone Real Estate Advisers has named a new U.S. equity Chief Investment Officer, Mike Zammitti. He will be responsible for overseeing all aspects of the investment process.

City of Tallahassee Pension Fund has committed $25 million to AG Realty Fund IX, a closed-ended opportunistic fund, managed by Angelo Gordon.

 

24 February

California Public Employees' Retirement System is searching for a new chief executive officer to lead and manage the pension fund, health benefit programs and its 2,700 employees.

 

22 February

Teachers' Retirement System of the State of Illinois has committed $300 million to Lone Star Funds of Dallas, Texas and $100 million to Madison International Realty of New York in their February meeting.

 

19 February

The University of Michigan revealed in its board meeting record that it will commit GBP25 million to Mercer Real Estate Partners II.

The new CEO of Korean Investment Corporation announced to push the allocation to alternative investments from 12.4 percent to 20 percent by 2020.

 

18 February

Private real estate will be one of the main discussion points on today's Investment Committee meeting agenda for the Ohio State Highway Patrol Retirement System.

 

17 February

The Alaska Permanent Fund's real estate holdings offset the stock portfolio losses, returning 2.3% for Q4 2015 and a total of 6.2% for the fiscal year-to-date.

 

16 February

Kang Myoun Wook has been appointed as chief investment officer for the National PensionService of Korea

Iowa Public Employees' Retirement System has issued a request for proposal for an investment focused legal and/or general legal counsel services partner. Proposals are due by March 16.

 

15 February

ATP Real Estate revealed that it has committed to eight property funds but it will shift its focus from fund investment to direct strategy. Besides, it does not have any plans to make direct investments in the US due to geographic and currency issue.

 

12 February

South Carolina Retirement System 's private real estate target allocation will increase from 5% to 7%, with new allocations being added for REITs and infrastructure – 1% and 3% respectively – effective from July 1, 2016. Investments into commodities will be carried out on an opportunistic, case-by-case basis with the current 3% allocation being cut.

 

11 February

San Francisco Employees' Retirement System has committed to HSI Real Estate V. The investment was discussed during an executive session at a meeting yesterday.

 

10 February

New York State Teachers' Retirement System has authorized a commitment of $500 million to Blackstone's Real Estate Debt Separate Account to manage a portion of the system's assets for a period of one year, subject to due diligence.

 

9 February

Houston Firefighters' Relief and Retirement Fund is going to review and negotiate its private equity and real estate limited partnership legal documentation at its board meeting on Thursday as part of the Chief Legal Officer's monthly report.

 

8 February

The Massachusetts Pension Reserves Investment Management Board is going to continue to upgrade the asset quality and average asset size in its real estate portfolio in 2016.

 

5 February

The Houston Municipal Employees' Pension System 's best performing asset class for fiscal year was real estate at 10.9%. The institution's target allocation to the asset class is 10%.

At its January meeting, the  A lameda County Employees Retirement Association   increased its target allocation to real estate from 6 percent to 8 percent.

 

4 February

Japan Post Bank has set up a real estate investment division and appointed Tokihiko Shimizu to lead the division.

 

3 February

In Q4 2015 Florida State Board of Administration committed $200 million to Cerberus Institutional Real Estate V and $150 million to Colony Distressed Credit and Special Situations IV, managed by Cerberus Capital Management and Colony Capital, respectively.

 

1 February 

PGGM  has approved an additional $160 million commitment to e-Shang Redwood's China Logistic Fund.