Managers

Alternative assets managed by the world’s top 99 investment managers on behalf of pension funds grew by 40 percent over the past year, according to consulting firm Watson Wyatt.

Alternative assets managed by the world’s top 99 investment managers on behalf of pension funds grew by 40 percent over the past year, according to consulting firm Watson Wyatt. Real estate managers occupied the top nine positions, managing 62 percent of pension fund assets.

The listed European developer that Denver-based ProLogis floated in 2006 is on its way to delivering on a promise to invest €900 million in ProLogis European Properties fund II (PEPF).

Scott Nuttall, the head of KKR’s financial services group, will also oversee fundraising and broker-dealer activities, while Todd Fisher, co-founder of the firm’s London office, will fill a newly created role of chief administrative officer. Perry Golkin will narrow his investor relations activities.

The summer recess will give time for the government to refine its plans, which critics have said could lead to an industry exodus to more favorable neighboring jurisdictions.

The number of funds targeting less than $1 billion of equity commitments has increased by almost one fifth to 128 in the first quarter of this year, with managers’ focus firmly pointed towards Asian real estate, according to research by New York-based fund of funds Clerestory Capital Partners.

Hong Kong tycoon Li Ka-shing’s firm will mainly focus on the main cities in China, Singapore, Hong Kong and Malaysia, but also look to Taiwan, Thailand and Vietnam. With leverage, ARA has a potential $5bn to invest.

CITIC CapitalLand Business Park Fund has closed on $72.5m, having raised money from domestic Chinese institutional investors. It is the first private equity real estate fund to be denominated in Yuan.

The US bank is on the fundraising trail again as a previous $1bn vehicle nears completion, according to a report.

Heitman veteran Harold Schwartz, previously head of Europe acquisitions, will lead the Chicago-based firm’s expansion into the Asia-Pacific region. Schwartz will be based in Tokyo.