Managers

The $37.7 billion pension system has approved an allocation to the New York-based private equity giant’s latest global real estate fund, which is expected to reach $6 billion in commitments by year’s end.

The Chicago-based real estate firm has acquired The Parking Spot for $360 million on behalf of its third value-added fund.

The $50.8 billion pension plan will allocate up to $100 million to Prudential’s $500 million value-added fund focusing on senior housing investments.

According to the latest research by the Switzerland and Singapore-based investment advisory group, Japanese private equity real estate funds attracted the most investment in Asia during the first nine months of 2011.

The Los Angeles-based real estate manager is targeting $400 million for its latest Latin America-focused real estate fund, with a first close expected by February.

The Hong Kong-based private equity real estate firm has added to its initial $220m first closing for its second Asia opportunity fund, ARCH Capital-TRG Asian Partners LP. The firm is ultimately targeting up to $500m for the pan-Asia vehicle.

The New York-based fund manager has hit the fundraising trail with its latest US value-added fund. AREA will target commercial properties across the US.

The latest survey by INREV reveals that available capital for non-listed real estate funds in Europe is waning. Despite a gloomy big picture, largely dominated by evaporating debt sources, equity availability should grow.

Amid the court approving the banking giant’s bankruptcy exit plan, Lehman is challenging the validity of Equity Residential’s agreement to buy 26.5 percent of Archstone.

The property arm of insurer Legal & General has underlined the growing importance of Defined Contribution pension plans by saying net inflows in the third quarter of the year from this type of scheme into its balanced property funds have for the first time become greater than those from Defined Benefit plans.