Core

The vehicle also is the firm’s first fund raised since the sale of GCP’s international business to Ares Management.

Current property boss and long-time executive Chris McGibbon will retire after nearly 24 years with the company.

The teachers pension’s biggest real estate commitment last year was to a new relationship with hyperscale developer BlackChamber Group.

The new recruit follows a wave of senior appointments globally including the return of its Asia real estate CIO Kenny Lam in 2023.

Alternatives-focused vehicles in the lower-risk, lower-return strategy are seeing a resurgence in demand.

Now is a good time to deploy capital in the region’s real estate markets, say participants in PERE’s European roundtable. But political risks still cloud the outlook.

The partnership represents the Australian superannuation fund’s first strategy to focus solely on real estate operating companies.

After more than 40 years leading the logistics giant and its predecessor, AMB Property, Moghadam will be succeeded by company president Dan Letter.

With the newly created role, Asia’s largest REIT manager intends to grow its presence in the country, which it first entered in 2019.

The listed company plans to expedite the return of invested capital, including transferring balance-sheet assets to third-party vehicles.