Managers

The Dutch pension fund service provider has become a cornerstone investor in the Redwood China Logistics Fund, an investment club intended for buying distribution, logistics and light industrial real estate in China’s growth markets.

The LA-based global property investment management giant is well on its way to reaching the $750m capital raising target for its CBRE Strategic Partners US Value VI fund, according to a document by the San Diego City Employees' Retirement System.

The London-based fund manager has teamed up with the Frankfurt-based logistics property firm to launch a fund focused on the 'untapped' German logistics market and on behalf of German and Austrian institutional investors.

The lead investors in the Boston- and Greenwich, Connecticut-based private equity real estate firm’s first commingled fund helped to steer additional capital to the vehicle, which became oversubscribed less than a year after its official launch.

The Denver-based firm has closed on €95 million for its Amstar Global Property Fund II through which it is targeting three development sites for shopping centres in Turkey.

The Dutch pension services giant and Copenhagen-based real estate fund of funds firm are among a club of investors to co-launch a residential development company with Mumbai-listed Godrej Properties. The new enterprise will be capitalised with $138 million of equity initially.

Cornerstone Real Estate Advisers is teaming up with a London-based company started by former GE Capital professionals to bring a debt origination product to Europe.

CalPERS’s purchase of a major stake in real estate investment advisor Bentall Kennedy will provide the largest pension fund in the US with an inside knowledge of the investment management business.

The endowment’s $75 million allocation to The Blackstone Group is the initial capital outlay of approximately $225 million in non-core commitments that the state is expected to make this year.

In a commentary today on the defensive value of real estate, CBRE’s chief EMEA economist, Peter Damesik, argues that even in the most extreme circumstances, it is unlikely investors would experience a total loss if they buy an office occupied by a bank, making it better than owning shares in the banks themselves.