Managers

The New York-based real estate investment firm's DRA Growth and Income Fund VII currently has $662m in commitments and is expecting a final close in September.

The New York global asset manager has formed a strategic partnership with Driftwood focussed on acquiring and repositioning hotels across the US.

A partnership between the $240bn pension system and the global real estate asset manager has generated a 60% IRR and $160m in profits. The fund closed after selling its office, residential and logistics projects in São Paulo, Rio de Janeiro and Curitiba.

For the first time since the credit crisis, Aberdeen Asset Management has launched an Asia Pacific fund of funds vehicle, seeking out a range of strategies from core to opportunistic and targeting returns between 13 and 17 percent per year.

The $154bn pension system will also work to decrease holdings in opportunistic and value-add investments and reduce leverage in the portfolio.

The firm has formed of a value-added UK fund that invests in Central London offices. In addition, its European core real estate fund has acquired a logistics property in Finland.

Hamburg-based ECE group has raised most of the equity for its first ever fund with a final close expected this summer. The Government of Singapore Investment Corporation is understood to be among investors in the prime shopping centre vehicle.

The break-up of ING continues with as the Dutch group sells out of its Australian property funds management business. Yesterday it completed the sale of its global securities business.

The real estate arm of Aberdeen Asset Management is looking to Sweden as the first in a country-by-country series of funds investing in residential property.

The Shanghai and Switzerland-based firm wants to access the 'China success story' by launching a fund focussed on investments in one of its major cites, Shanghai.