Managers

Azure targets £1bn hotel deals

Hotel owner and operator says it is in talks with ‘major’ private equity groups and real estate funds to create a joint venture vehicle to build up a portfolio of hospitality assets

CalPERS invests $190m in Brazil with Hines

Hines closes another Brazil real estate account with the California Public Employees pension fund. CalPERS has invested more than $380m to target Brazil with Hines over the past five years.

Pensions to allocate $440bn to RE over next 5 years but more needed, says Grosvenor

The real estate investment and fund management business calculates that OECD pension funds will allocate $440bn to real estate over the next five years. But the firm warns that aging populations and vulnerable bond markets should be met with further allocations to income-producing real estate.

Two-thirds of fund managers could disappear

As fundraising continues to prove difficult, veteran GPs at the AFIRE conference estimate that between 50% and 70% of managers in the business may not survive.

LaSalle attracts equity to UK Special Situations Fund

The Chicago-based firm is focused on ‘deleveraging European real estate’ in the UK through investing in real estate structured investments and debt. The firm has already attracted capital commitments to its £100m UK Special Situations Fund.

Grady to take helm at $68bn New Jersey pension as advisor prompts alternatives hike

Former Carlyle partner Robert Grady is poised to be elected chair of the state’s investment council as the pension’s advisor Strategic Investment Solutions’ advice to hike alternatives up to 38 percent becomes draft regulation.

Henderson targets $400m for US multi family investors

UK-based fund manager sees the US apartment sector as the ‘best-positioned’ over the next five years and has launched an investment vehicle to capitalise.

Harrison Street completes second close for $500m fund

Chicago-based Harrison Street has brought its fundraising total for its latest private equity real estate fund to $330m. The education, healthcare and storage real estate-focussed firm has held a second close and is hoping to corral a total of $500m for the vehicle.

Rockspring confirms $400m Korea mandate

London-based Rockspring Property Investment Managers has confirmed it has been awarded a $400m mandate from the National Pension Service of Korea to invest in core assets across Europe. The news was revealed by PERE last month.

BoA ML Euro team completes MBO, forms Peakside

The European team in charge of Bank of America Merrill Lynch’s European private equity real estate platform has bought out its GP interests and has launched new shop, Peakside Capital.