The $123.8bn California pension plan took a 50% write-down in its value-added/opportunistic real estate investments in the year to 31 March 2009. The pension has completely written off its equity in some funds, while others are currently reporting IRRs of more than -100%.
2 min read · 21 January 2013
Martin Barber, one of the UK’s best known property entrepreneurs and one of the few British executives with experience in the US REIT market, says he has backing from US investors for a company called Zenith Estates.
1 min read · 21 January 2013
UK asset manager Threadneedle has secured a debt facility from two banks for its open-ended property fund.
1 min read · 21 January 2013
Through its London-listed, closed-ended investment vehicle, Pacific Alliance China Land, the Hong Kong-based firm has bought a minority position in Chinese developer Wanda Commercial Property.
1 min read · 21 January 2013
The Southern European buy-and-build specialist is giving LPs greater control over investments made by the fund, which will support add-ons for Fund III portfolio companies.
2 min read · 21 January 2013
RREEF can be added to the list of names of large, established managers who feel the time is not right to raise a global opportunistic fund amid investor uncertainty in the market.
2 min read · 21 January 2013
The CEE shopping centre developer, already listed in Vienna, is now trading in Amsterdam, a year after Citi Property Investors and Gazit-Globe invested €500m into the company.
2 min read · 21 January 2013
Canadian asset manager Brookfield, which last week announced the formation of a $4bn real estate investor club, says it has enhanced its capital raising team by hiring fundraising exectuives including three former Bear Stearns professionals.
2 min read · 21 January 2013
Roughly 35% percent or more of capital raised by placement agents comes from US public pensions, according to a veteran fundraiser, and an SEC proposal to ban placement/pension interaction could threaten the third-party fundraising business model.
2 min read · 21 January 2013
Secured Capital Japan (SCJ), the Tokyo-listed real estate fund manager, has held a final close of $525 million for its fourth real estate opportunity fund.
1 min read · 21 January 2013
