LP Radar – November 2015

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

30 November

Montana Board of Investments has committed $20 million to Stoltz Real Estate Partners V, a diversified value add vehicle and a new manager for the institution.


27 November

School Employees' Retirement System of Ohio has placed EUR40 million to Rockspring TransEuropean Property VI.

In April, Ohio Public Employees Retirement System committed $200 million to Strategic Partners Real Estate Fund VI, managed by Blackstone Strategic Partners, according to the investment report presented at the latest meeting.


26 November

Fonds de Reserve pour les Retraites has approved EUR200 million to Société Nationale Immobilière's Intermediate Housing Fund. The fund commitment also markes the change of its investment strategy. 

Japan Post Bank will set up a new division to look for opportunities in property investments in December 2015.


25 November

Lancashire County Pension Fund has committed GBP25 million to Kames Capital's Target Healthcare Property fund.


 24 November

Texas Permanent School Fund has committed to $75 million to Mesa West Real Estate Income Fund IV.

Oakland County Pension Trust Funds has earmarked $15 million to Walton Street Capital's Real Estate Fund VIII.

University of Michigan has committed $27 million to Niam's Nordic VI and $25 million was committed to KHP Fund IV.


23 November

California State Teachers’ Retirement System has allocated $500 million to Blackstone Property Partners International, GBP75 million to Brockton Capital’s Fund III, together with another GBP50 million for co-investment opportunities and EUR100 million to  NIAM’s sixth Nordic Fund.

San Francisco Employees' Retirement System has earmarked EUR100 million to Blackstone's Real Estate Partners Europe V Fund.


 19 November

Montana Board of Investments has approved a $15 million commitment to PCCP Equity VII.

APG Asset Management, Canada Pension Plan Investment Board and e-Shang have formed a $500 million joint venture to develop and manage a portfolio which targets logistics real estate investments across South Korea. 

Oregon Public Employees Retirement Fund has acquired 50 percent stake of Waterton Residential Property Fund IX from California State Teachers’ Retirement System at $205 million.


 16 November

Orange County Employees Retirement System is moving its capital from REITs into private real estate funds and it is considering three real estate funds, namely, Westbrook Partners’ Fund X, Northwood Investors’ Series VI and Brookfield Asset Management’s Strategic Partners II. Looking forward, the allocation to real estate in the year 2015-2016 could be up to $225 million.

California Public Employees' Retirement System has sold $3 billion of its real estate holdings to Blackstone Group in order to simplify the portfolio and reduce fees. Such transaction represents 10% of CalPERS’ real estate assets.


 13 November

Employees Provident Fund of Malaysia committed MYR240 million to AREA Industrial Development Fund.

Sunsuper has named Ian Patrick as chief investment officer.


 12 November

California State Teachers' Retirement System's investment committee approved a policy revision that will increase core sub-asset holdings at the expense of the opportunistic ones.


11 November

Connecticut Retirement Plans and Trust has committed $100 million to Crow Holdings Realty Partners VII.

At a board meeting on October 22, City of Fort Lauderdale General Employees' Retirement System announced a commitment of $10 million each to Deutsche Asset & Wealth Management and Invesco Advisors, subject to attorney review.


10 November

Tanya Carmichael, Director at Ontario Teachers' Pension Plan, was named by Institutional Limited Partners Association as the Chair of its Board of Directors.

The Public Sector Pension Investment Board (PSP) has acquired 50% of Aviva Investors' real estate portfolio. PSP and Aviva will have equal shares of the joint venture, with Aviva managing the assets and handling the future development.


9 November

Swiss Federal Social Security Funds is looking to invest into a core/core plus Asia-Pacific real estate vehicle. The fund can be closed- or open-ended and of approximately $35 to $50 million in size. The final filing date falls on November 15.

Fresno County Employees Retirement Association's board has committed $30 million to Kennedy Wilson V and $20 million to Gerding Edlen Green Cities III, pending negotiations.


6 November

New York State Common Retirement Fund  has approved a $350 million commitment, plus up to $100 million in co-investment capital for Ares European Property Enhancement Partners II.


5 November

Teachers' Retirement System of the State of Illinois has approved $100 million commitment to Westbrook Partners' Real Estate Fund X.

A decision on a new general investment consultant for Texas Municipal Retirement System (TMRS) is expected in December according to the most recently published meeting minutes. The RFP was sent to seven firms and is posted on the TMRS website.


4 November

Public Employees Retirement Association of New Mexico has made a $70 million commitment to PW’s Real Estate Fund III.

PensionDanmark has appointed Marius Møller to replace Søren Ulslev as the new director of real estate.

Commonfund has appointed Mark Anson its new chief investment officer.


3 November

Los Angeles County Employees' Retirement Association has committed EUR26.8 million to Standard Life Investment European Real Estate Club II.


2 November

Dallas/Fort Worth Airport approved a $20 million investment each in Crow Holding Realty VII and Blackstone Real Estate Debt Strategies III at its meeting last week.

In Q3 2015, Florida State Board of Administration committed GBP50 million to Tristan EPISO 4, a value added fund managed by Townsend.


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