Investors

London-based Geni Capital and Dubai's AREIT Management say the closed ended opportunity fund aims to launch with at least $100 million, with a cornerstone investor already having been lined up.

Adelaide Gray is joining the UK insurer's property team from property services firm King Sturge to enhance the group's knowledge of trends affecting its specialist portfolio of assets.

Construtora Altana has closed it’s A-Pima fund targeting the affordable housing market in Brazil. Provident Group acted as placement agent.

The private equity real estate firm with more than $3bn in dry powder has told investors they can reduce their commitments by a tenth without penalty.

A survey of European real estate fund managers and investors reveals private property vehicles and ‘conservative’ institutional investors will be the investment driving force in the next 12 months. Private funds raised €23bn of equity in 2008 and are set to target Munich and Hamburg in 2009.

Oregon Investment Council has been asked by the New York-based investment firm to invest additional equity into its Gagfah deal, as it looks to pay down debt on the German residential property company. Fortress went to its LPs rather than go to 'outside sources'.

The Los Angeles City Employees’ Retirement System has changed its investment agreement with one of its general partners as it senses value in the US hospitality sector.

The US firm wants to raise the money to help pay down debt in its German residential business, Gagfah, as well as alleviate funding issues at its other real estate investments, according to a report.

The tenth largest pension fund in the US has reported a 5.6% fall in returns for real estate in 2008, but the sector still outperformed other asset classes.

The $1.5bn pension, concerned that GPs were not ‘realistic’ during the boom period, will also delay an initial allocation to the private equity asset class.