Real Estate – Page 71
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Macquarie opens office in Frankfurt and Paris
REAL ESTATE – The real estate fund arm of Australian investment bank Macquarie has this month opened offices in Frankfurt and Paris to step up its investments on the European continent.
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ABP could profit from real estate bidding war
THE NETHERLANDS - The €209bn civil service pension fund ABP could enjoy a windfall as a result of a bidding war between two large property investors in the USA.
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IVG Immobilien slams G-REITs legislation
REAL ESTATE – German property firm IVG Immobilien has lambasted the government legislation creating German real estate investment trusts (G-REITs), saying that unless it is improved, G-REITs will not be successful.
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ABP declares interest in running Dutch toll roads
THE NETHERLANDS – The €201bn civil service pension fund ABP is willing to operate one or more motorways in the Netherlands as toll roads, its chairman Elco Brinkman said.
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German railways talks to pension funds about buying shares
GERMANY – German national railway operator Deutsche Bahn is holding talks with large pension funds over its planned privatisation – institutional investors could take over as much as 50% of the shares, it was said.
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Germany’s NAEV ups real estate exposure
REAL ESTATE – Germany’s NAEV, a €7.75bn medical pension fund, will expand investments in real estate investment trusts (REITs) and other real estate securities over the next three years, says Hermann Aukamp, NAEV’s director of real estate.
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AP3 taps Aberdeen for €221m in real estate
SWEDEN – AP3, the SEK196.1bn (€21.7bn) Swedish buffer fund Tredje AP-fonden, has appointed Aberdeen Property Investors to build a European real estate equity fund portfolio worth SEK2bn (€221m).
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MEPs’ fund goes into real estate
EUROPE – The €190m (£127.85m) Members of European Parliament Pension Fund is moving away from bonds in favour of euro-zone property to increase the diversification within its portfolio.
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German accountants’ fund to go into alternatives
GERMANY – WPV, an €850m pension fund for chartered accountants, will make inaugural investments in alternative asset classes from 2007, targeting a quota of up to 5%, according to managing director Hans-Wilhelm Korfmacher.
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ABP scales down stake in real estate group
NETHERLANDS - The €201bn civil service pension fund ABP has decreased its majority stake in real estate group Vesteda to 46.7%, Vesteda said.
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Dutch institutions’ raw materials appetite grows
EUROPE – Dutch institutional investors such as pension funds have a growing appetite for raw materials, so far they have invested already around €20bn (£13.5bn) in the asset class reports show.
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Newham fund diverts into infrastructure
REAL ESTATE - The London Borough of Newham pension fund is to invest £30m (€45m) in infrastructure. The investment, which follows a strategic review and is the fund’s first in infrastructure, reflects a desire to influence the beta aspects of the fund and the search for a guaranteed long-term return.
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Shropshire fund moves out of UK property
REAL ESTATE - Shropshire County Council pension fund is seeking an investment manager for a £43m (€63.7m) pan-European real estate portfolio.
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IPE AWARDS: Full list of winners
IPE AWARDS – Below is the full list of winners of the 2006 IPE Awards, held today in Paris:
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Irish schemes shun alternatives - IAPF
IRELAND – Alternative assets such as hedge funds, private equity and currency are “generally unpopular” with the trustees of defined benefit pension funds in Ireland, says the Irish Association of Pension Funds.
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USS buys into Bulgarian real estate developer
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it Eastern European real estate holdings.
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PWC names global investment management head
GLOBAL – PricewaterhouseCoopers has named Marc Saluzzi as the new global head of its investment management and real estate group.
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ABP’s role at real estate firm Corio queried
NETHERLANDS – Dutch pension giant ABP risks being drawn into a row over the management of real estate firm Corio, in which it has a 39% stake.
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Cordares eyes international property pooling
REAL ESTATE - Pensions provider Cordares says it’s considering setting up direct real estate pooled funds with pension funds abroad as a way to diversify risks.
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Real estate ripe says Schroders' Brown
REAL ESTATE – The real estate market is “ripe” for a more global investment approach, says Schroders’ investment chief Alan Brown.
