LP Radar – July 2016

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

28 July

Kumpulan Wang Persaraan (KWAP) expressed that it will expand its exposure to Germany, France, the Netherlands and US with core strategy while it will make risker investments in Australia and UK where it has been investing. It is now only interested in commercial, industrial and retail properties. Looking forward, it will look for direct and co-investment opportunities.

27 July

Illinois Municipal Retirement Fund has committed $50 million to AEW Partners VIII, $35 million to CBRE Strategic Partners U.S. Value 8 and $30 million to Long Wharf Real Estate Partners V.

Chicago Teachers' Pension Fund is going to hold an education session and discussion on real estate debt at its investment committee meeting tomorrow, as well as due diligence presentations from Newport/TCB Broadway, Clarion Partners, CityView Southwest Fund and Fremont.


26 July

Cathay Life Insurance expressed that it will invest over $50 million to real estate and infrastructure funds over the next 12 months.

25 July

Texas Permanent School Fund, overseen by Texas Board of Education, has approved a $75 million commitment to Cerberus Institutional Real Estate Partners IV.

Public Sector Pension Investment Board’s strong returns in real estate, infrastructure and natural resources were partially offset by lower returns in private equity and negative returns in public markets in fiscal year 2016.


22 July

China Investment Corporation(CIC) has Tu Guangshao as the company's new Vice Chairman and President, replacing Li Keping. CIC also announced Liu Guiping no longer serves as Executive Vice President.

21 July 

Stichting Pensioenfond Fysiotherapeuten (SPF) has committed EUR25 million to Syntrus Achmea's Dutch Retail Property Fund, which invests in shopping centers in major cities in the Netherlands.

20 July

University of Michigan has committed $50 million to Carmel Partners Investment Fund VI. The multi-family fund headquartered in San Francisco, California, will make investments in select supply-constrained, high barrier-to-entry US markets.


19 July

Bayerische Versorgungskammer (BVK) has appointed CapMan Real Estate for the EUR400 million real estate mandate. CapMan Real Estate will manage the investments in Sweden, Denmark, Finland and Norway for BVK.

18 July

Samsung Fire & Marine Insurance told PEI that it is interested in real estate co-investments and direct investments which target core office in South Korea, U.S., France and Germany. The firm will also consider blind pool funds but only welcome experienced managers.

15 July  

The Local Pensions Partnership (LPP), the strategic partnership between the London Pension Fund Authority (LPFA) and Lancashire County Pension Fund (LCPF), have allocated GBP850 million to Knight Frank Investment Management for the commercial and residential property investment in the UK.

14 July  

California Public Employees Retirement System has named Marcie Frost as its new Chief Executive Officer. Ms. Frost will start on October 3rd. She replaces Anne Stausboll who retired at the end of June.

National Pension Service of Korea (NPS) has appointed Young Sig Yang the head of investment strategy and Sang Hyun Yoo the head of global alternative division. 

City of Fresno Retirement Systems approved a commitment of $15 million each to Oaktree Real Estate Opportunities Fund VII and PCCP Equity VII for a value-add/opportunistic real estate mandate.


12 July

Pension Fund Association for Local Government Officials (Chikyoren) has appointed UBS Asset Management as the chosen mandate to handle its overseas real estate investments.

8 July

Pontiac General Employee's Retirement System is looking for managers to handle $20-$45 million real estate investment. The search is open to core, core plus, and value-add managers who invest in diversified domestic properties. Real estate debt managers are also welcomed and the application deadline is 4th August.

Partners Group is going to open a services hub in Manila to expand its Asian presence in September 2016. The office will be located in Bonifacio Global City business district.


7 July  

Zurich Insurance Group has chosen UBS Asset Management for its EUR400 million real estate investment mandate which targets core office, retail and industrial properties in Italy.

Teacher Retirement System of Texas has committed $200 million to Oaktree Real Estate Opportunities Fund VII. The transaction was finalised on June 30.


6 July

Texas Municipal Retirement System has approved a commitment of $200 million to PIMCO Corporate Opportunities Fund II.


5 July

Houston Municipal Employees' Pension System has approved a commitment of $20 million to Starwood Global Opportunity Fund XI.


4 July

At the June 30 meeting, Oklahoma State Regents for Higher Education approved a commitment of $7 million to DRA Advisors for the endowment trust fund. The capital will originate from a reallocation within the firm's current portfolio and cash assets.


1 July

Los Angeles County Employees' Retirement Association approved a commitment of $150 million to CityView Multifamily Fund III, in which the pension fund will be the sole investor.

Indiana Public Retirement System has named Scott Davis as its new Chief Investment Officer and Bo Ramsey as the Deputy Chief Investment Officer. Davis had served as interim CIO since September 2015.


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