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Three investment executives from the country’s Government Pension Investment Fund have joined the life insurance company in recent months, prompting the insurer to increase its allocation from 3 to 10 percent.
JLL Japan
Japanese investors told delegates at the annual PERE conference that they were focused on diversifying their property portfolios in the face of an expected correction.
The real estate investment group of the German insurer saw its RE debt assets under management drop from €19.3bn in 2018 to €18.9bn in H1 2019.
The Chicago-based manager is targeting a raise of $1.5bn in initial equity for the vehicle in the first three years.
Following positive return performances in 2018, family office allocations to the strategy increased by 2.1 percentage points – more than any other asset class.
The Houston-based firm has moved to a more centralized structure and will have three regional chief investment officers.
The firm has reached an initial institutional close for its first open-end core product targeting the region, 30 months after the fund’s official launch.
The majority of the retail funds terminating before 2019 have failed to liquidate due to the poor performance of the retail sector, an INREV survey has found.
Real estate secondaries transaction volumes fell 39.2% during the first half of 2019 but the dip is expected to be temporary, according to private equity secondary advisory firm Setter Capital.
Whether the Boston-headquartered manager should fret over losing Gillian Chee, the manager of its incoming Asia core fund, is debatable.
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