News & Analysis

In a move to shift away from equity risk, The State of Wisconsin Investment Board has raised its real estate and private equity targets 1% each and doubled the target of its tactical multi-asset allocation.

The US’ second largest mall owner says it has extended the maturity deadline on $900m of loans until February next year. The debt, tied to two Las Vegas properties, had been due for repayment last week.

The C$117.4 billion Canada pension fund is the first investor in Multi Corporation’s retail fund. The fund comprises 21 retail development projects throughout Turkey. CPPIB say Turkey is one of the 'most promising' developing markets in Europe.

Pending a final decision due next year, the UK’s Competition Commission may require British airport operator BAA to sell the two airports in addition to its sale of London’s Gatwick Airport, which is already underway.

The former investment bank, which has applied to become a bank holding company, took a loss of $1.8bn in its asset management division, which includes real estate and private equity businesses.

Non-listed property vehicles are increasing the visibility of their fee structures, according to a study by INREV. However fund managers still use a wide range of methods to calculate their annual management fee, with value-added and opportunistic funds charging on average 0.65 percent and 1.37 percent each year.

CalPERS veteran Anne Stausboll will lead the US’ largest public pension plan and influential private equity investor. The pension is still searching for a CIO following the departure of Russel Read earlier this year.

Statistics suggesting that 62% of this year’s corporate defaults are private equity-backed are ‘entirely misleading’ according to the Washington-based industry body.

As part of its global efficiency drive, the firm’s entire Chinese investment team will be based in Beijing.

Pacific Retail Capital, the private equity real estate firm which span-out of Somera Capital and was backed with capital from Lubert-Adler, says retail is about to undergo a “major shift” away from the High Street chain model. The firm is targeting malls of at least 500,000 sq ft.