All articles by Richard Lowe – Page 4
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NewsKorea's NPS boosts European real estate strategy by $400m
GLOBAL – The National Pension Service (NPS) of Korea has committed a further $400m (€306m) capital to Rockspring Property Investment Managers to invest in European real estate markets.
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NewsAllianz plans to double real estate portfolio to €30bn
GERMANY – Allianz Real Estate is aiming to sell €1bn in small and secondary assets in Germany within 18 months as part of its ongoing project to double its portfolio to €30bn.
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NewsSchroders' head of real estate multi-manager resigns
UK – Jenny Buck, head of Schroders' real estate multi-manager business, has resigned and will be replaced by Graeme Rutter and Rob Bingen.
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NewsÅström, Otterud join forces to found Custor Capital
GLOBAL – Real estate fund-of-funds pioneers Anders Åström and Tomas Otterud have teamed up with former AP1 CIO Bo Ljunglöf to establish an independent investment firm targeting institutional investors.
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NewsBA Pensions teams up with Columbus on City office buy
UK – The British Airways Pension Fund has entered into a 50/50 joint venture with the Columbus UK Real Estate Fund to acquire London City office Austin Friars House for £25m (€30.6m).
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NewsAPG to increase weighting to Asian markets
GLOBAL – APG, which manages the assets of the largest Dutch pension fund ABP, said it plans to increase its Asian real estate exposure by €1bn within the next five years.
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NewsRockspring completes first continental deal for Korea's NPS
GLOBAL – The National Pension Service (NPS) of Korea, the fifth-largest pension fund in the world, has acquired a 51% stake in the O'Parinor Shopping Centre in Paris for €223m.
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NewsHenderson targets German retail with real estate fund
GERMANY – Henderson Global Investors is seeking to tap demand from German institutional investors for exposure to their domestic retail sector.
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NewsReal estate transactions grow in Europe despite sovereign debt crisis
EUROPE – The growth in European real estate transactions continued to rise in the second quarter despite investor uncertainty over the sovereign debt crisis.
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NewsReal estate fundraising plummets to 2004 levels: Preqin
GLOBAL – Capital raised by private equity real estate fund managers has fallen to its lowest level since 2004, according to data providers Preqin.
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NewsEuropean institutional investors regaining appetite for risk
EUROPE – European transaction volumes in 2010 are expected to exceed those of last year following results from a survey that finds risk appetite has increased among institutional investors in the UK, Germany and France.
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News
CalPERS acquires 12.7% stake in London Gatwick Airport
GLOBAL – The California Public Employees' Retirement System (CalPERS) has acquired a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).
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Pension fund seeks passive US equities exposure
IPE-QUEST – An industry-wide pension fund based in continental Europe is conducting a search for asset managers to provide a passive exposure to US equities, using IPE-Quest.
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Wednesday people roundup
GLOBAL – Belgian Pension Fund Association, IIGCC, Institute and Faculty of Actuaries, Hermes, Nordea, KPMG, AEGON, Henderson Global Investors, Aberdeen Asset Management, Northern Trust Global Investments, INREV, Managing Partners Limited, Rothschild Asset Management
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Features
Regime change effects
UK pension funds, consultants and asset managers had been hoping for some form of political certainty ever since the run-up to the general election in May. The outgoing Labour government had set in train a number of pension reform measures, including the launch of its National Employment Savings Trust (NEST) in 2012, designed to sweep up UK workers with no existing pension provision through new auto-enrolment regulations.
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NewsFunds should be more open about investment beliefs
GLOBAL – Preliminary studies suggest pension funds that are public about their investment beliefs outperform their peers, but the vast majority make no such disclosures.
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NewsAlpInvest in talks to buy RBS private equity
EUROPE – AlpInvest Partners, the private equity manager owned by Dutch pension fund investors APG and PGGM Investments, is understood to be in talks to acquire a €400m private equity portfolio from the Royal Bank of Scotland (RBS).
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News
Short-selling ban ‘red herring’ for wider euro-zone problems – ATP
EUROPE – Following widespread criticism from fund managers of Germany’s short selling ban, Danish pensions giant ATP has questioned whether it was really to blame for the subsequent currency and stock market falls.
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State Street to administer Norway-Global's property exposure
NORWAY – Norges Bank Investment Management has hired State Street to provide fund administration services for the Norway Government Pension Fund's planned real estate allocation.
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EU ministers back AIFM after ECON revises rules (amended)
EUROPE – European Union finance ministers have backed proposals to regulate hedge funds and private equity funds just hours after the European Parliament's Economic and Monetary Affairs Committee (ECON) adopted a revised position on the Alternative Investment Fund Managers (AIFM) Directive on Monday.
