The $36.9bn endowment is reportedly planning to sell some of its holdings in private equity, hedge funds and other money managers to bring more capital in-house and be more ‘nimble’.
2 min read · 21 January 2013
After real estate losses constituted the biggest part of the Canadian pension’s $5.7 billion loss for the half-year to 30 June, it has decided to “reposition” its real estate exposure.
2 min read · 21 January 2013
The California pension giant will formalise the central role of fair value accounting in its real estate portfolio and will require external fund managers to comply with these standards.
2 min read · 21 January 2013
As part of the US REIT’s efforts to reduce its debt load, Maguire Properties is handing over control of seven buildings once valued at more than $1 billion. The properties were bought between 2004 and 2007. LBA Realty is reportedly taking over one asset, Park Place I.
2 min read · 21 January 2013
Robert Gifford, the former AEW veteran, has been appointed president and chief executive officer of the troubled insurance group. Former COO of Scanlan Kemper Bard Companies William Glasgow has been named chief restructuring officer.
2 min read · 21 January 2013
The McLean, Virginia-based firm said it was ceasing its investment activities in Latin America owing to market conditions. It is working with investors to wind down the regional platform.
2 min read · 21 January 2013
Just five years after launching it, Citi is following the lead of other institutions and trying to exit its private equity real estate funds business. CPI must first win approval from 67% of its LPs.
2 min read · 21 January 2013
The California Public Employees’ Retirement System and a JV partner have purchased a majority stake in a portfolio of shopping centers it sold four years ago. The deal indicates CalPERS propensity for core income yielding property.
2 min read · 21 January 2013
The McLean, Virginia-based firm is immediately closing its Latin America fund and operations.
2 min read · 21 January 2013
The Pension Benefit Guarantee Corporation (PBGC) has revoked lucrative private equity and real estate advisory contracts with BlackRock, Goldman Sachs and JPMorgan after concluding that the former head of the federal corporation may have acted inappropriately before and during the bidding process.
3 min read · 21 January 2013
