Value-Add

CalPERS sees higher real estate returns after allocation shift

The California pension giant has shifted more capital to non-core real estate strategies over the past two years.

NorthPoint Development closes its largest fund to date

The Kansas City-based industrial specialist sees a ‘generational buying opportunity’ from forced sellers for its seventh vehicle.

Capital is diverging from traditional reallocation patterns

As liquidity gradually returns to private real estate, much of the proceeds are not flowing back to where they came from, PERE heard at MIPIM.

CBRE IM raises $2.1bn for its seventh Asia value-add fund

The vehicle received commitments from 15 limited partners globally, including The State Pension Fund of Finland, LACERA and NZ Super.

HSBC Life plans return to real estate via value-add funds

The $120bn AUM insurer aims to diversify its US-heavy, core-focused property portfolio, with an eye on Asian assets, said its CIO.

GEPS to double real estate exposure over next five years

In a pivot away from single-asset investments, the South Korean pension plans to commit $250m to commingled funds in the next 12 months.

BlackRock’s MacDonald takes cautious stance on Japan

The asset manager looks to smaller investments that can be exited quickly as BoJ’s rate normalization complicates longer-term plans.

Almanac acquires minority stake in Alterra IOS

The investment will support Alterra’s growing IOS portfolio in a further sign of the institutionalization of the asset class.

Mapfre to propose expansion of real estate strategy

Spain’s largest insurer to date has amassed an approximately €2bn property portfolio, focusing on prime office assets in major European cities.

Former Brookfield exec joins Slättö to support globalizing investor base

As managing director of capital formation, Laura Barstow will help the Swedish manager capture growing international interest in Nordics real estate.