Investors

The multifamily investor has closed its second value-added fund after eight months of fundraising. One investor committed $75m to the vehicle.

Norway’s ministry of finance has signalled its intention to delay its real estate investment plans as global market conditions continue to deteriorate. The €267bn pension has allocated 5% to real estate, but said it will not impose a 'fixed investment plan' in the current environment.

Prupim has joined other large British landlords such British Land and Capital & Regional in trying to ease the cash-flow problems of their retailers. It follows a high profile campaign by retailers for rent to be paid monthly, rather than quarterly.

VinaCapital, the Vietnamese asset management, banking and real estate consultancy, is putting the finishing touches on its second dedicated property fund. The fund will be fully privately funded, unlike the firm's first opportunity fund.

With LPs struggling to balance declining distributions against pending capital calls, a report by Clerestory Capital shows 32 fund managers in market over the past six months chose to stop or put fundraising efforts on hold. Among the worst hit were funds targeting India and China.

At a special breakfast meeting, PERE assembled a cross-section of industry participants to swap notes on MIPIM and their businesses. By Robin Marriott and Jonathan Brasse. PERE Magazine, April 2009 issue

PERE Magazine, April 2009 issue

The Darien, Connecticut-based funds of funds manager has closed its third property vehicle on $146.5m and its fifth private equity fund on $1.05bn.

The $850m police and fire pension fund aims to take advantage of discounted US property prices by increasing its allocation to the sector from 10 percent to 20 percent. In submitting a bill to Florida lawmakers, Jacksonville hopes to grow its real estate portfolio to $170m.

The real estate consultant has hired former Cushman & Wakefield partner Adam Calman to lead its push into Europe. Townsend is consultant to $126.4bn California State Teachers’ Retirement System (CalSTRS), the Government of Thailand and ATP in Denmark.