LP Radar – March 2016

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

30 March

Tennessee Consolidated Retirement System has made a $40 million commitment to Normandy Real Estate Fund IV, a commingled value added fund.

Texas Municipal Retirement System has committed $300 million to Blackstone Property Partners and $75 million to DivcoWest's fifth fund.

 

29 March

New Jersey Division of Investment has committed $100 million each to Wheelock Street Real Estate Fund V and Exeter Core Industrial Club Fund II.

 

24 March

European Bank for Reconstruction & Development has committed €50 million to Hines Poland Sustainable Income Fund.

 

23 March

Michigan Department of Treasury has committed $50 million each to Rialto Real Estate Fund III and TSP Value and Income Fund, as well as $20 million to Avanath II SMRS Co-Investment Fund and $10 million to M1 Westgate CoInvest.

 

21 March

Ohio Bureau of Workers' Compensation has earmarked a total of $700 million in core-plus real estate investments, including fund commitment to Jamestown Premiere Property Fund and Prologis Targeted US Logistics Fund.


18 March

University of Michigan has committed GBP 10 million to Moorfield Audley Real Estate Fund/Moorfield Real Estate Fund II Co-investment. In October 2007 the university invested GBP 15 million in Moorfield Real Estate Fund II.

 

17 March 

Vermont State Retirement System increased the real estate investment exposure from 6 percent to 8 percent, representing an additional $70 million investment in real estate assets.


16 March

CBRE Group has named Ritson Ferguson, the firm's current Chief Investment Officer, as the new CEO of CBRE Global Investors, due to Matt Khourie's move to a subsidiary.

Pennsylvania Public School Employees' Retirement System committed $200 million to Brookfield Strategies Real Estate Partners II and £75 million to Pramerica Real Estate Capital VI.

 

14 March

Maine Public Employees Retirement System has approved a commitment up to $50 million to KKR Real Estate Partners Americas II.

 

11 March 

Oregon Public Employees' Retirement System has approved $300 million commitment to Lone Star's Real Estate Fund V 


10 March

Teacher Retirement System of Texas has committed $300 million to Blackstone Real Estate Partners Europe V and $200 million to Invesco U.S. VA Parallel Fund IV – 2.

 

9 March

New Mexico State Investment Council has committed GBP70 million to Pramerica Real Estate Capital VI.

Pennsylvania Public School Employees' Retirement System is scheduled to discuss investments in Brookfield Strategies Real Estate Partners II and Pramerica Real Estate Capital VI at a meeting tomorrow.

TIAA-CREF and The Church Pension Group have committed to Avanath Affordable Housing III.

 

7 March 

Japan Post Bank has introduced Kazunari Yaguchi to head its newly created real estate investment division from Development Bank of Japan.

 

4 March

Public Employees Retirement Association of New Mexico's 2016 real estate allocation target is $139 million, likely to be invested via two partnerships, according to recently published minutes.

 

3 March

New Mexico Educational Retirement Board has committed $40 million to Lone Star Real Estate Fund V.

The Rhode Island State Treasury's Investment Commission approved a commitment of $30 million to IC Berkeley Partners Fund IV at its monthly meeting on February 24.

 

2 March

Arizona State Retirement System has appointed Karl Polen as its new Chief Investment Officer. He is currently Head of Private Markets in the Investment Division.

The Chicago Laborers' and Retirement Board Annuity and Benefit Fund is soliciting proposals to manage a non-core/value added real estate portfolio of approximately $10 million in size.

 

1 March

JP Morgan Asset Management has appointed its first real estate head of Japan, Tetsuya Karasawa.

 

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