Real Estate – Page 78
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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.
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Structured products strong in H1 – BNP Paribas
EUROPE - The first part of 2006 showed very strong growth for structured products, according to BNP Paribas Equities & Derivatives.
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Fortis names global LDI head
NETHERLANDS – Fortis Investments has appointed Alexander Van Aken to the new position as global head of liability driven investment.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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Finland’s Fennia eyes overseas real estate
REAL ESTATE - Public sector scheme Pension-Fennia is to invest €200m – 30% of its real estate allocation – in overseas indirect property amid increasing concerns over potential volatility in the Finnish market. (From iperealestate.com.)
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PensionDanmark starts real estate project
DENMARK – PensionDanmark today began building apartments in Måløv, near Copenhagen, that will be ready for occupation at the end of 2007.
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New editor named at IPE Real Estate
GLOBAL – Martin Hurst, features writer at IPE Magazine, is to take over as editor at sister publication IPE Real Estate.
