Investors

The $1.1 billion Baylor College of Medicine endowment fund in Texas says it is planning to commit up to 10 percent of its funds, around $100m, to the real estate asset class in a bid to secure long-term returns.

The investment management firm’s second value-add vehicle will target investments in office, retail, industrial and multi-family properties throughout the US.

The aerospace company’s $50.4 billion pension is shifting its allocation targets as it looks to reduce exposure to stock market volatility.

Filings indicate that Apollo Real Estate will remain an independent entity as Apollo Global Management prepares to list shares.

The mid-market buyout firm and fund of funds has recruited Dana Haimoff from JPMorgan as a partner, as Graphite’s listed investment trust trades at a discount on the public markets despite 14.3 percent net asset value gains in 2007.

The Scandinavian country’s finance ministry has approved a plan for the state’s oil fund to begin investing in real estate, allocating 5 percent to property investment.

Two Finnish pension funds and two funds of funds managed by UK investment manager Schroders have made commitments so far as Sonae Sierra aims to raise a shopping and leisure center vehicle.

LP Capital, a California-based firm that is also one of CalPERS’ advisors, beat out StepStone to replace Portfolio Advisors as the US pension’s private equity gatekeeper.

The former chief executive officer of Credit Suisse asset management, David Blumer, will be replaced by Rob Sharif after taking up a new role as head of financial markets at Swiss Re.

The pension’s overall annual return of 4.5 percent – its lowest return in five years – was boosted by alternatives. Teachers’ annual report said real estate was the highest performing asset class returning 14.7 percent.