Investors

New Mexico’s Canavan on demographics-driven investing and his preference for smaller managers

The $87.4 billion pension plan instead intends to increase its core property allocation, particularly through separate accounts. 

The New York- and Toronto-based firm has revealed its new global business line will be called IDI Gazeley, with a portfolio measuring 58 million square feet.

Asset manager says global investors foresee stumbling blocks in economic recovery and are hedging their bets with alternative investments like property.

The sovereign wealth fund’s position has been disclosed amid a change of structure at Deutsche Annington, in which investors in a private equity real estate fund owning a majority of the company are being offered an exit not in cash but in shares in the company.

Kylli has bought a majority stake in 225 Bush Street in San Francisco in the city’s largest office trade since 2012.

After completing a deal with DEXUS and CPPIB, the Australian-listed fund manager plans to raise as much as A$700 million.

Outbound Chinese investment in private real estate might be gathering pace but it is not ready to relinquish the comforts of home.

Having built up a $10 billion property portfolio from investments in Europe and the US, Norway’s $860 billion sovereign wealth fund now has its sights on Asia.

Even for investors seeking opportunistic returns, Asia’s compressing yields are forcing the focus on the long-term “megatrends” underlying property, delegates heard at the ULI Asia Pacific Summit.