The two US organisations have seeded an investment vehicle with 13 properties acquired by WP Carey. WP Carey is contributing $20 million to the vehicle while Harbert Management is adding $30 million.
1 min read · 21 January 2013
British property company Sovereign Land is teaming up with veteran broker Chris Geaves to take advantage of the country's pricing correction. The fund will particularly target shopping centres. Geaves will be 'winding down' his role at Strutt & Parker.
1 min read · 21 January 2013
The California pension is set to create a $6bn securities portfolio targeting distressed sellers that will cut across all asset classes. To make room for the portfolio, the pension is shifting its asset class allocations, including increasing allocations to real estate and private equity.
2 min read · 21 January 2013
The Singapore sovereign wealth fund has established an office in the southern city of Chennai to expand its investment operations in India.
2 min read · 21 January 2013
A JV between the Dublin-based private equity real estate firm and developer FOM Real Estate has sold a hotel in Frankfurt to an open-ended fund run by Deka Immobilien. The firm paid €30m for the property in July 2007.
1 min read · 21 January 2013
Losses of 19.5% in public markets and 13.7% percent in private equity were partially offset by gains of a 6% gain in real estate. The Canadian pension plan, one of the country’s largest, is now valued at C$44bn, versus C$52bn at the end of last year.
2 min read · 21 January 2013
The $500m private equity fund will support the development of transport, energy and other infrastructure projects in the Latin American country. Ashmore, local partner Inverlink and technical adviser Macquarie have agreed to invest in the fund.
1 min read · 21 January 2013
British pension funds diversified their portfolios by investing 40% more in private equity and 30% more in hedge funds in 2008 over the previous year. Real estate fared less well, however, with mandates dropping by 25%.
2 min read · 21 January 2013
Piergiulio Dentice di Accadia has joined from CB Richard Ellis Investors to manage the Cordea Savills Italian Opportunities No 2 fund. In addition, former Pirelli Real Estate professional Daniele Martignetti has also joined Cordea Savills’ Italian business.
1 min read · 21 January 2013
For the first time in nine years, London is no longer the most expensive city in which to rent office space. Hong Kong and Tokyo are now the world’s priciest locations, with prime Hong Kong offices renting for $2,200 sqm per year.
1 min read · 21 January 2013
