With its real estate allocation currently over target and returns in the year to June just 4.9 percent against a benchmark of 10.8 percent, the $15.7bn US pension says plans to commit $100m to the asset class over the next nine months will be put on hold.
2 min read · 22 January 2013
The size of the infrastructure opportunity is almost unfathomable. It is screaming out for private investors.
2 min read · 22 January 2013
The head of alternative assets for UK pension Universities Superannuation Scheme says portfolio write-downs coupled with the denominator effect have made fundraising tough. Yet many GPs saw this coming, and raised plenty of dry powder ahead of the storm, he says.
2 min read · 22 January 2013
Market conditions worldwide are darkening, but the infrastructure asset class will likely be among the first to see the sun, writes Cezary Podkul.
2 min read · 22 January 2013
The private equity real estate arm of Jones Lang LaSalle is reportedly eyeing property bargains in Japan, China and Australia, after raising $3bn for its latest fund. People familiar with the matter told PERE, the fund has 80% capital left to invest.
2 min read · 22 January 2013
Firm CEO Robert Brunswick tells PERE market conditions had ‘accelerated’ its focus on being a principal investment business.
1 min read · 22 January 2013
Stauffenberg Capital’s first fund of funds will be exclusively advised by real estate advisor Townsend as it seeks to capitalise on the dislocation in the markets. A first close is planned by the end of the year.
2 min read · 22 January 2013
Apollo Global Management bought a $201m stake in Linens ‘n Things, once the US' second largest housing retailer, in 2006. The firm has told investors the bankruptcy will only minimally affect their returns. More than 370 stores will now be liquidated.
2 min read · 22 January 2013
The coming year could see prices drop in the US by as much as 20 percent next year, according to research by real estate investment firm Blumberg Capital Partners. Buying opportunities exist, CEO Philip Blumberg argued, though the commercial real estate market would not bottom out until mid-2009 or 2010.
1 min read · 22 January 2013
The Boston-based private equity real estate arm of Fidelity Investments, run by Michael Elizondo, is seeking investor approval to spin out on its own.
1 min read · 22 January 2013
