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Allocation Strategy

The $9.1 billion Chicago-based pension has issued an RFP for a non-core real estate manager to run up to $60 million.
Of that amount, the $45.3 billion pension plan expects to commit $550 million to commingled funds as part of its new fiscal year 2015 tactical investment plan for the asset class.
The Chicago-based real estate investment manager has been awarded its second billion-dollar property mandate in the past week, this time from the £12.6 billion Greater Manchester Pension Fund.
The San Rafael, California-based pension plan will sell off the properties in its separate account with Woodmont Realty Services and reinvest much of the capital in core funds.
The KRW442 trillion Korean state pension fund has agreed a further mandate of €300 million with the London-based real estate investment manager for a value-add, pan-Europe investment strategy, adding to a series of capital commitments that started seven years ago.
The Shanghai-based firm is plotting to launch its first US-focused property fund by the beginning of next year for its Chinese investors.
In its updated real estate investment policy, the $27.12 billion pension increased its target allocation to non-core investments from 5 percent to 20 percent of its private real estate portfolio.
In a research document, the global brokerage firm says growing assets, loosening regulation and successful investments by pensions and sovereign funds are expected to influence the region’s $6.7tr insurance sector to markedly increase its allocation to property.
Norway’s $860 billion sovereign wealth fund is planning to invest 1 percent of its portfolio in property annually for the next three years.
The multi-manager arm of Los Angeles-based CBRE Global Investors and the London-based real estate venture capital firm have committed £250m to a UK development and ‘change of use’ joint venture partnership.
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