Investors

The $25.3 billion pension system has formalized its Emerging Manager Program Annual Tactical Plan, including a $100 million allocation to new real estate managers.

The private real estate markets of Asia’s emerging markets and Hong Kong face the most uncertainty as the US tapers quantitative easing, delegates heard at the PERE Summit Asia.    

The direct property arm of Canada’s OMERS has agreed to purchase 450 Park Avenue from Somerset Partners.

The $176.2 billion pension plan has made 10 commitments to eight property managers, including Clarion Partners and DivcoWest.

The concluding panel at PERE’s seventh Asia Summit in Hong Kong told delegates the core real estate market in Asia required a widely acknowledged benchmark in order to take a major step to maturation.  

Chinese investors and developers investing overseas also are willing to buy non-traditional real estate for the returns they want, delegates heard at the PERE Summit Asia in Hong Kong.  

The $42.75 billion pension plan’s investments with three separate account managers make up more than half of its allocation to the asset class for 2014.

Singapore and China were the most active countries, committing a combined $18 billion to international real estate in 2013 up from $5.8 billion in 2012.

Fast-growing Forum Partners appoints Evelyne Dubé as managing director of capital markets and group business development

Industry veteran Michael Clarke is joining CBRE Global Investors from March to lead investor relations, equity raising and to help form investment strategies across Europe, the Middle East and North Africa.