Real Estate – Page 106
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News
Austria’s VPK and BVP consider merger
AUSTRIA- The two billion-euro multi-employer Vereinigte Pensionskassen AG, VPK, and the 1.2 billion-euro banking and insurance sector pension fund BVP-Pensionskassen AG may agree to merge by the end of August.
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DB Real Estate in E1.4bn Italian deal
ITALY – Deutsche Bank’s DB Real Estate arm has bought New Real, the property company of the Italian energy group Enel.
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Pensions grow to 41% of asset management - report
GLOBAL - Pension fund assets have risen to 41% of the asset management industry's client assets in Benelux, France, Germany and Italy, up from 41%.
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Merchant Navy scheme CEO retires after revamp
UK - Geoffrey Henry, the chief executive of the 2.7 billion-pound (4.03 billion-euro) Merchant Navy Pensions Administration Ltd. Merchant Navy Officers Pensions Fund, MNOPF, has retired.
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Schroders makes hedge fund appointment
UK - Schroders has appointed Russell Investment Group’s Derek Doupe to the new role of head of business development for its fund of hedge funds business.
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Jobs to go as ISIS buys F&C Management
EUROPE – An unspecified number of jobs are set to go with the acquisition by Friends Provident’s ISIS Asset Management of F&C Management from Eureko, which values the deal at more than a billion euros.
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HVB Group’s pension head Eckert to leave
GERMANY- Carsten Eckert, chief executive of Pension Consult, the consulting arm of HypoVereinsbank, is to leave his job in July.
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CalPERS names exec to oversee managers, advisors
US – CalPERS has named Anne Stausboll as assistant executive officer, tasked with overseeing external manager and consultant searches and the coordination of internal investment policy.
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UK pension funds’ new investments fall E9.9bn
UK – New investments by UK pension funds fell by 4.6 billion pounds (6.9 billion euros) in the first quarter of 2004, according to the statistics office.
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PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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News
SEB creates the Commercial Real Estate division
GERMANY - Financial banking group SEB is bringing together the real estate business of its Scandinavian Corporate and Institution Division and of its German subsidiary SEB AG Group to better target German investors.
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News
Lothian cuts UK equities weighting and Putnam
UK - The £1.9bn (€2.9bn) Lothian Pension Scheme has cut its UK equities weighting by 16.9 percentage points, about £320m, in its main fund, in a further sign of a shift of defined benefits schemes away from the asset class, which WM Company predicted would lead to a £174bn shift ...
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News
Sweden's AP1 hires head of external management
SWEDEN- The 140 billion crowns (15.2 billion euros) buffer fund AP Foersta Fonden, the First Swedish National Pension Fund, has appointed SEB Asset Management’s Rikard Kjoerling to the new position of head of external management.
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Credit Suisse appoints Tochtermann
SWITZERLAND - Credit Suisse Asset Management (CSAM) has appointed Daniel Tochtermann as director and head of international real estate products targeting Swiss institutional investors.
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Aviva cuts 700 life business jobs
UK – Aviva’s Norwich Union arm is to cut 700 jobs in its life business services division in a bid to cut costs and improve flexibility.
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Jobs go as HP outsources Dutch scheme to Hewitt
NETHERLANDS - Hewitt Associates’ Dutch arm is to administer the 450 million-euro Hewlett-Packard Netherlands pension fund, the fund’s administrator said.
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Features
Opportunity knocks
Please give an explanation of the firm. Where is the focus of your investment and why? What is the particular investment strategy of the house? JER Partners (JER) is a private equity firm focusing exclusively on real estate investments. JER has been active in Europe since 1994 and runs ...
