Managers

Fresh from striking a compromise with investors in its latest global real estate opportunity fund, the private equity real estate business of Morgan Stanley reportedly is gearing up to launch a new US-focused vehicle.

The results of the 2012 AFIRE Annual Survey have revealed that foreign investors intend to continue seeking out real estate investment opportunities in the US, focusing on New York.

Pius Ho, a former senior portfolio manager at the Abu Dhabi Investment Authority, has launched Moonbridge Capital, a real estate investment management business aiming to differentiate itself as an operating partner.

The Texas pension system has committed €85 million to Aberdeen to invest in European real estate funds, with the firm’s property multi-manager team seeking value-added and opportunistic strategies.

A year on from launching the style classifications, INREV has revised the definition of a ‘core’ fund after some concerns from members.

The $288 billion National Pension Service of Korea is poised to commit $300m to Blackstone’s latest opportunity fund as part of a strategy to increase its exposure to higher return investments. A beauty parade to select two more opportunity funds is expected to follow.

The former senior vp at the Norcross, Georgia-based US real estate investment firm has been picked to replace founder Leo Wells, who will step down as president but remain CEO.

Rockwood Capital Real Estate Partners IX is seeking $750 million to target hotels, offices, residential and retail properties throughout the US that are underperforming or suitable for redevelopment or expansion.

The $35 billion pension system has committed the exact amount for which the Greenwich, Connecticut-based firm is offering fee breaks on its latest fund, which recently held a first close on $1.2 billion.

The role of global head of business development has cropped up in several places of late, due in part to firms realising that their businesses cannot live by fundraising alone.