Real Estate – Page 78
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PGGM’s Muller joins Bouwfonds Asset Management
NETHERLANDS - Léon Muller, senior portfolio strategist for real estate at Dutch health care pension fund PGGM, is leaving to join Bouwfonds Asset Management as head of research.
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman.
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ABP in €417m Barcelona hotel deal
REAL ESTATE – Dutch civil service pension fund Stichting Pensioenfonds ABP and partners including an affiliate of the Government of Singapore Investment Corp. have agreed to buy the Hotel Arts Barcelona for €417m.
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IPE-QUEST: Dutch fund tenders Euro real estate
NETHERLANDS – A Dutch pension fund has tendered €50m-€60m in pan-European publicly traded European real estate via IPE-Quest.
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Irish reserve fund posts negative Q2 returns
IRELAND – The €16.3bn National Pensions Reserve had a negative investment return of almost 4% in the second quarter of this year – although it was up in the first six months.
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Bank of Ireland AM re-jigs investment structure
IRELAND – The Bank of Ireland Asset Management today announced a new investment business structure with the appointment of three managing directors – including former ABN Amro research head Chris Johns - to take over from outgoing chief investment officer Chris Reilly, who will retire next year.
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London pension funds shun Olympic Village plan
REAL ESTATE - Cash to spend and an eye for the long term make pension funds the ideal investment partners to build the UK’s 2012 Olympic village, according to its real estate advisers – yet pension funds approached by IPE Real Estate indicated little or no interest.
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DekaBank keeps mum over revenue, staff reports
GERMANY – DekaBank, the asset manager tied to Germany’s state-owned savings banks (Sparkassen), has declined comment on press reports that 21 managing directors have been demoted and that it will miss its revenue and profit targets for this year.
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Blue Sky appoints commercial chief
NETHERLANDS - Blue Sky Group, the Dutch pension fund manager which runs the KLM pension fund, has appointed Francis van Bergenhenegouwen as head of commercial affairs.
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IPE-QUEST: Two new searches on system
GLOBAL – A continental European pension fund is looking to invest between $50m and $100m in hedge funds via IPE-QUEST.
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DekaBank names Killius institutional sales chief
GERMANY – DekaBank, the asset manager of Germany’s state-owned savings banks (Sparkassen), has recruited Thomas Killius from HypoVereinsbank as its new head of institutional sales.
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Germany rejects EC court action as “groundless”
GERMANY – The government has dismissed as “groundless” a court action by the European Commission against Germany over its so-called Riester-Rente, a tax-privileged private pension.
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CalPERS JV to target Spanish holiday homes
REAL ESTATE - The California Public Employees' Retirement System (CalPERS) is to invest in Mediterranean holiday homes via a €231m fund set up with private US developer Hines.
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Legg Mason revamps structure, management
GLOBAL – Legg Mason has organized its business into three units and revamped its management structure as it absorbs its acquisition of the Citigroup Asset Management business.
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GSAM wins €750m Océ fiduciary deal
NETHERLANDS - Goldman Sachs Asset Management says it has been appointed to as fiduciary manager for €750m in assets at Stichting Pensioenfonds Océ.
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Austria’s ÖPAG to increase DC benefits
AUSTRIA – ÖPAG, one of Austria’s multi-employer pension funds, says that following a good performance in 2005, it will increase pension benefits for members in its defined contribution plan by between 0.5% and 2.5%.
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Finland’s Varma offloads €74m of retail
REAL ESTATE – Varma Mutual Pension Insurance Co., Finland’s largest private insurance company, has agreed to sell 116 retail properties to a real estate fund.
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CBRE in deal with Oxford Property Consultants
REAL ESTATE – UK real estate research and investment firm Oxford Property Consultants has inked a deal with CB Richard Ellis.
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Stouthamer boosts European team
REAL ESTATE - Composition Capital – the investment management firm set up by former MN Services real estate chief Erwin Stouthamer last year – is close to hiring an investment manager for its Composition Capital Europe fund.
