The $22bn state workers' pension fund lost 14.8% on its real estate portfolio in the fourth quarter of 2008, and 16.5% on private equity during the same period.
1 min read · 21 January 2013
New York’s Attorney General Andrew Cuomo has indicted Saul Meyer for allegedly making illegal payments to Henry Morris in exchange for business with the $122bn New York State Common Retirement Fund. Cuomo said he is actively coordinating with other states’ law enforcement agencies on the investigation.
4 min read · 21 January 2013
The $850m police and fire pension fund aims to take advantage of discounted US property prices by increasing its allocation to the sector from 10 percent to 20 percent. In submitting a bill to Florida lawmakers, Jacksonville hopes to grow its real estate portfolio to $170m.
1 min read · 21 January 2013
State Universities Retirement System of Illinois has committed $75m to AVP Partners’ fund of funds, marking the start of a new investment strategy in the sector.
1 min read · 21 January 2013
The New York State Common Retirement Fund committed $300m to a fund managed by Franklin Templeton Real Estate. It came as the state’s comptroller called for more flexibility in potentially increasing alternative investments.
2 min read · 21 January 2013
Canada’s Caisse de depot et placement du Quebec suffered large falls in its real estate returns in 2008, with declines of 21.9%, the largest in its history. The pension fund is now seeking ways to stem future losses.
2 min read · 21 January 2013
The $1.5bn pension, concerned that GPs were not ‘realistic’ during the boom period, will also delay an initial allocation to the private equity asset class.
2 min read · 21 January 2013
Unilever’s fund called Progress wants to switch out of direct property holdings and into indirect holdings.
1 min read · 21 January 2013
The $35bn United Nations Joint Staff Pension Fund will start investing in funds of hedge funds and private equity. It will also expand its real estate portfolio, currently valued at around $1.8bn, to include infrastructure, agricultural land and timberland.
1 min read · 21 January 2013
The Pension Benefit Guaranty Corporation, which guarantees the pensions of about 44 million Americans, has hired gatekeepers as it prepares to allocate a portion of its $5.5bn in assets to private equity and real estate.
1 min read · 22 January 2013
