As some US public pensions move to ban the use of placement agents, Mike Travaglini, the executive director of the $38bn Massachusetts PRIM, warned agents play a vital role in helping his small staff identify private equity and real estate opportunities.
3 min read · 21 January 2013
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
The $110bn pension fund has committed $30m to the Mountgrange Real Estate Opportunity Fund I through its funds of funds investment with Franklin Templeton’s Lake Montauk vehicle. The Mountgrange fund closed in May on £300m and will target under-performing assets as well as land deals.
1 min read · 21 January 2013
A scandal in New York is causing big trouble for placement agents everywhere. PERE June 2009
3 min read · 21 January 2013
ING Real Estate has been awarded the management of a Tokyo based pan-Asia real estate opportunity fund after its previous manager ran into financial difficulties. Following the deal, ING Real Estate now manages $4.97 billion of assets across Asia.
2 min read · 21 January 2013
Pine Brook Road Partners, along with Goldman Sachs, JPMorgan, PartnerRe and Renaissance Re, has pumped $500m into Essent – a new private mortgage insurance company targeting US residential loans.
1 min read · 21 January 2013
The New York State Common Retirement Fund has assets valued at $110bn, down from $154bn about a year ago, due in part to a 32.6% decline in the value of its real estate portfolio.
2 min read · 21 January 2013
Swiss-Italian financier Marc Cottino is spearheading efforts at M&A Property Investors to source €100m for a private equity real estate fund to invest in Europe and North Africa.
2 min read · 21 January 2013
The Newport Beach, California-based firm has reduced the target for its value-added fund to $600m from $1bn, according to pension fund documents.
2 min read · 21 January 2013
The $29bn oil and gas endowment plans to allocate 18% to a new real assets category, including real estate, infrastructure and Treasury inflation-protected securities. The target allocation to real estate is expected to increase 2%.
2 min read · 21 January 2013
