China Investment Corp. (CIC) will expand its investments in manufacturing and real estate this year in search of better returns, says Lou Jiwei, chairman of the country’s sovereign wealth fund.
Lou said on January 14 at the Asian Financial Forum in Hong Kong that CIC long focused on investments in the financial and commodities sectors, but this year it would increase investment in manufacturing in a bid to further diversify. CIC would also increase investment in industries with stable returns, such as real estate and infrastructure………………………………………..Full Article: Source

Australian Infrastructure Fund shareholders approved a deal to sell the company’s assets, including interests in airports across the country and in Europe, to Australia’s sovereign wealth fund for $2 billion.
Preliminary, or proxy votes, cast ahead of a meeting in Melbourne today showed 88 per cent of shareholders were in favour of the deal, while 10 per cent were against. “The proxies cast ahead of the meeting do appear to have carried the matter,” company chairman Paul Espie said at the meeting………………………………………..Full Article: Source

Approximately, 1 ton (32 150 troy ounces) of the purchased gold, conforming to the requirements of LBMA was transferred to Azerbaijan by UK’s Brink’s Global Services on January 11, 2013 and temporarily stored in the vaults of the Central Bank of the Republic of Azerbaijan, SOFAZ said.
Some 14 934 kg of gold (480 146 troy ounces) was included into SOFAZ investment portfolio as of December 31, 2012. The gold purchased by the Fund is temporarily stored in JP Morgan’s London vault considering its experience and competitive storage costs………………………………………..Full Article: Source

The $80 billion Future Fund has stepped up its investment in the US property market with a $US350 million ($333m) stake in a fund investing in US residential apartments and a $US59m investment in Dallas-based property company The Howard Hughes Corporation.
The investments, made last last year, are part of the Future Fund’s move to expand its exposure to international property. The fund had more than $2 billion invested in the North American property market out of its total $5.1bn property portfolio as of the end of September………………………………………..Full Article: Source

Jon Moulton’s private equity firm has formed a joint venture with the Irish National Pensions Reserve Fund to help turnaround small Irish companies. Under the deal, Better Capital will manage a €100m fund called the SME Turnaround Fund to invest in underperforming Irish businesses that have the potential for restructuring.
Ireland’s €14 billion National Pensions Reserve Fund will commit €50m of the funding, with the remainder provided by Better Capital’s BECAP12 Fund………………………………………..Full Article: Source

The State Oil Fund of Azerbaijan (SOFAZ) is considering an opportunity to buy property in Turkey, Singapore, Indonesia and Malaysia, SOFAZ said. SOFAZ said that in particular variants of purchasing property in Istanbul and central cities of Singapore, Indonesia and Malaysia are being considered.
“At present, all the variants are being considered, analysed and evaluated,” SOFAZ said. “Depending on the research results in this area and in accordance with SOFAZ’s investment strategy for 2013, the final decision will be made.”……………………………………….Full Article: Source

The State Oil Fund of Azerbaijan, the Caspian Sea nation’s €34bn sovereign wealth fund, has announced real estate acquisitions in Paris and Moscow, adding to a purchase in London to bring 2012 European property commitments to around €454m, one-quarter of its permitted allocation.
In France SOFAZ agreed in December to pay €135m to buy 8 Place Vendôme, a prestigious Paris prime office and retail property, from AXA Real Estate Investment Managers. The office, retail and residential space is located in an iconic 18th century mansion and an office building from the 1950s………………………………………..Full Article: Source

Norway has granted permission for its giant €508bn pension fund to invest in property outside Europe from this year. The news came days after its manager, Norges Bank Investment Management, signed a €2.4bn joint venture with US-based Prologis to invest in European industrial property - and followed an announcement that it is also targeting $11bn at the US.
Norwegian Finance Minister Sigbjoern Johnsen announced the widened global real estate mandate in late December. “By spreading our investments we contribute to a continued secure and long-term management of the fund,” he said in a statement following establishment of the nation’s 2013 budget………………………………………..Full Article: Source

Paris looks to steal a march on London as the key target for chinese property investors. After China Investment Corp, the country’s $410-billion (313 billion euros) sovereign wealth fund, bought Deutsche Bank’s headquarters in London for a reported $403 million, the French capital stepped up its efforts to lure Chinese investors interested in the European commercial real estate market.
“We have one competitor in Europe, which is London,” said Benoit du Passage, chairman and CEO of the real estate company Jones Lang LaSalle France and Southern Europe……………………………………….Full Article: Source

China’s sovereign wealth fund is among a trio of Asian investors vying to buy an 800-million-pound ($1.29 billion) London office campus from Blackstone Group in what would be the U.K.’s highest-value property deal since the start of the financial crisis.
China Investment Corp. and government-backed funds from South Korea and Malaysia have put forth bids for Chiswick Park, Blackstone’s 1.1-million-square-foot development, the FT reported, citing unnamed people familiar with the process………………………………………..Full Article: Source

The State Oil Fund of Azerbaijan, known as Sofaz, bought a shopping and business center in the Russian capital, Moscow, for $133 million as it continues to diversify its reserves.
Sofaz bought 100 percent of Tverskaya, 16 OAO, which owns the Galereya Aktyor (Actors’ Gallery) building in central Moscow, the Baku-based fund said today in an e-mailed statement. The 18,000 square-meter center was built in 1882………………………………………..Full Article: Source

Mubadala Real Estate & Infrastructure (MREI) has announced the sale of four land plots on Al Maryah Island in Abu Dhabi for a retail project. MREI, a business unit of Mubadala Development Company, sold the plots to Gulf Related to deliver a further 288,200 sq m of retail space in Sowwah Square.
“The expansion will provide a world class regional retail destination that will include residential and hotel development in line with the vision of the Government of Abu Dhabi for the Al Maryah Island master plan,” a statement said without giving the value of the deal………………………………………..Full Article: Source

Norway’s sovereign wealth fund has agreed to buy a 50 percent stake in a portfolio of European warehouses for 1.2 billion euros ($1.6 billion) from U.S.-based Prologis as it ramps up its still-small property investments.
The deal announced on Thursday for a stake in 195 properties spread across 11 European countries represents the first steps of what could be large global investments of real estate by the $685 billion Norwegian wealth fund, which has been built up from surplus oil and gas revenue………………………………………..Full Article: Source

Azerbaijan’s State Oil Fund, known as Sofaz, bought an office and retail property in Paris for 135 euros ($179 million), its second real estate investment in a week as it seeks to diversify reserves. The property, 8 Place Vendome, was purchased from AXA Real Estate (AXAEDAC) and has a total area of 5,400 square meters (58,125 square feet), Sofaz said today in an e-mailed statement.
“With these recent real estate transactions, Sofaz has established its presence in two main commercial centers of Europe –- London and Paris,” Israfil Mammadov, the fund’s chief investment officer, said……………………………………….Full Article: Source

The State Oil Fund of Azerbaijan, a sovereign wealth fund, has bought an office complex at 78 St James Street in London’s West End for £177m, the first asset in a £1bn in spending targeted at luxury and trophy properties across Europe. Annual rental income is £9.65m, putting net initial yield at 4.5% p.a., SOFAZ said.
Seller was RREEF Real Estate, part of the alternatives investment division of Deutsche Bank wealth management; the asset came from the fund grundbesitz europa. SOFAZ Executive Director Shahmar Movsumov commented: “Sovereign Wealth Funds across the globe are looking for ways of diversifying their risks by expanding their investments beyond traditional asset classes ……………………………………….Full Article: Source

No sooner said than done. That is how you can describe the first deal of the State Oil Fund of Azerbaijan (SOFAZ) on buying property abroad. According to a statement released by the fund on Monday, SOFAZ purchased real estate in London in the amount of 177.35 million pounds. This is an office complex in London’s West End at St James, 78.
Let me say at once that this property meets the conditions under which the SOFAZ may invest in foreign assets in frames of the investment policy. As it has often been noted by the fund, the liquidity of the acquired property must be high, the price and yield - stable. The basis was set by a long-term lease, the location in downtown, excellent conditions, provision with modern equipment and other conditions………………………………………..Full Article: Source

State Oil Fund of the Republic of Azerbaijan (SOFAZ), announced on December 17, 2012 its first real estate investment, with the purchase of 78 St James’s Street, an office complex in London’s West End for £177 350 000. The seller was RREEF Real Estate, the real estate investment business of Deutsche Bank’s Asset and Wealth Management division. Jones Lang LaSalle and Clifford Chance were the advisors to SOFAZ on this deal.
St James is a well-known prime location for exclusive office properties within London. 78 St James Street is located in one of the most prestigious parts of St James and is a Grade II listed building. 78 St James Street building was built in 1845 and was completely renovated in 2003 behind the historical facade and now corresponds to “A” class office building……………………………………….Full Article: Source

An academic study of sovereign wealth funds shows that they behave differently from other institutional investors when investing in private equity. The study, by Sofia Johan of York University in Canada, April Knill of Florida State University in the US, and Nathan Mauck of the University of Missouri in the US, examined the investments of 19 SWFs in 424 companies – both private and public – around the world between 1991 and 2010.
Similar to other institutional investors, the SWFs were less likely to invest in private equity, compared with listed companies, internationally. But unlike the others, they were more likely to invest in private equity, compared with public, in countries where investor protection was low and where bilateral political relations between the SWF and the target country were weak………………………………..Full Article: Source

UK property developer Canary Wharf Group Plc and Qatari Diar Real Estate Investment Co, the property investment arm of Qatar’s sovereign wealth fund, have announced plans to the ‘Braeburn Estates’ project, consisting of offices, up to 790 homes and a number of shops at the Shell Centre site on London’s South Bank, capitalising on surging prices and rising rents in the UK capital, Bloomberg reported on 13 December 2012.
Canary Wharf, which controls the financial district of the same name, and Qatari Diar will spend more than £1 billion including the cost of the land between Waterloo Station and Hungerford Bridge purchased last year, to redevelop the area on the south bank of the River Thames………………………………………..Full Article: Source

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The chief of the Iskandar Regional Development Authority said Iskandar Malaysia in Johor will develop into a metropolis of international standing. “To grow into a big metropolis, you need the right ingredients and we have it all in Iskandar,” IRDA chief executive, Ismail Ibrahim, said.
Ismail said the Khazanah Nasional and Temasek Holdings partnership to develop parcels of land in Iskandar has spurred interest among Singaporean investors. The two sovereign wealth funds plan to build 3 billion ringgit worth of properties in Iskandar through their partnership called Pulau Indah Ventures. Ismail said the project showed confidence from Singapore, which would lead to more investments from the country and other global investors………………………………………..Full Article: Source

The Government of Singapore Investment Corp. will buy the Grand Wailea on Maui and three other luxury U.S. resorts owned by a group led by New York-based Paulson & Co. for $1.5 billion after no other bidders stepped up to bid on the bankrupt resort properties.
An auction that had been scheduled for Thursday was canceled a day earlier after no other competing bids were received by the Monday deadline, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York in Manhattan………………………………………..Full Article: Source

A Singapore sovereign wealth fund has emerged as the winning bidder for MSR Resort Golf Course LLC after no competing bidders came forward to best its $1.5 billion stalking horse bid for the company’s five-resort portfolio, according to court documents filed in New York federal bankruptcy court Wednesday.
No competing bids emerged before MSR’s Dec. 3 bid deadline, meaning Government of Singapore Investment Corp. (Realty) Private Ltd.’s $1.5 billion offer is now the winning bid, according to a notice filed by MSR on Wednesday………………………………………..Full Article: Source

A robust corner of Asia’s hedge fund industry lies in South Korea, where the government, faced with the familiar global problem of an ageing population, has actively encouraged the development of alternatives to boost pension and other investment returns.
Domestic Korean institutions have certainly adopted alternatives. The Korea Investment Corporation (the KIC) is the sovereign wealth fund of Korea with assets of some $50bn under management. In an interview with Asia Pacific Intelligence, Minjun Kim, Senior Investment Manager, Investment Strategy Group, Head of Hedge Funds for KIC, reports that currently the KIC has roughly about $1.3 billion invested in hedge funds. At the time of writing, the KIC is not allowed to invest in the domestic Korean hedge fund industry and observers feel that it won’t until the local funds have proved themselves capable of good and steady returns………………………………………..Full Article: Source

Norway has just brought an early Christmas Holiday present to American institutional owners of large Class A office complexes and other conservative property assets in major cities and developed malls.
Norway’s $660 billion sovereign wealth fund, the world’s largest, announced it is entering the U.S. real estate investment market for the first time. The fund plans to invest about $11 billion in various countries………………………………………Full Article: Source

Norway’s $660 billion sovereign wealth fund, the world’s largest, plans to invest about $11 billion as it enters the U.S. real estate market. The fund, mandated by the country’s finance ministry to eventually put 5 percent of assets in property, wants one-third of that, or 1.7 percent, to be in the U.S., said Yngve Slyngstad, chief executive officer of Oslo-based Norges Bank Investment Management, which oversees the pool.
The fund held 0.3 percent in real estate, 60.3 percent in stocks and 39.4 percent in bonds as of the end of September, according to its quarterly report………………………………………..Full Article: Source

Credit Suisse Group AG (CSGN) sold an office complex in Zurich to Norway’s $660 billion sovereign- wealth fund for 1 billion Swiss francs ($1.08 billion) as the Swiss lender tries to boost its capital.
Norges Bank Investment Management acted as the buyer on behalf of the Norway Government Pension Fund Global, the Zurich- based bank said in a statement today. The Uetlihof office complex is about 3 kilometers (1.9 miles) southwest of Zurich’s center, according to Credit Suisse………………………………………..Full Article: Source

Norway’s $660 billion oil fund purchased its first property in Switzerland and hopes to conclude its first U.S. real estate deal next year as its ramps up investment, it said on Thursday.
The sovereign wealth fund, the world’s biggest, bought the Uetlihof office complex in Zurich for 1 billion Swiss francs ($1.07 billion) from Credit Suisse and also agreed on a 25-year lease with the building’s former owner………………………………………..Full Article: Source

Global investment house Xander Group and Mapletree, the real estate unit of Temasek Holdings, are in the fray to acquire Indian construction major Shapoorji Pallonji’s business park SP Infocity, in Chennai, valued at Rs 450 crore.
The Information Technology (IT) park is 27-lakh-sqft development, and the deal on the table comprises of 8-lakh sq ft of tenanted office space leased to clients like HSBC, Amazon, Saksoft, Hapag Lloyd, Lister Technologies, and Neeyamo. Private equity groups like Blackstone, Baring and GIC of Singapore have stepped up its interest in India’s office buildings, especially assets in the outsourcing hubs of southern India, as a stable route to participate in the domestic real estate play………………………………………..Full Article: Source

Middle East sovereign wealth funds and pension funds will continue to shun all but prime European assets – and the demands they make on fund managers are increasing – according to a director of Wafra Capital Partners, the fund management subsidiary of the Kuwaiti pension fund.
Head of European operations Rachid Ouaïch told the Association of the Luxembourg Fund Industry conference that Middle East institutional investor appetite was “easy to summarise”. “Prime, prime, prime – that’s all they’re looking for in Europe right now.”……………………………………….Full Article: Source

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Sovereign Wealth Funds (SWFs) are some of the largest investors in both public and private markets, but their inner workings are largely kept out of the public sphere. Sometimes, however, a few moves are publicized – specifically, when foreign personnel become part of the staff. This was the case for Scott Kalb, the first foreign investment professional to become CIO and Deputy CEO of the Korean Sovereign Wealth Fund. He recently spoke about the move and how SWFs approach alternative investments in an interview with Matthias Knab for Opalesque TV.
Kalb explains that when it comes to alternatives, SWFs are investing as a limited partner (LP) in a limited partner/general partner structure (GP) which requires more discipline and due diligence than investing in public markets. “It usually takes three to six months to select a manager, so it is a long process. You have to make sure that you get to see them on the ground and you have to do a thorough evaluation,” he says………………………………………..Full Article: Source

The Azerbaijani State Oil Fund (SOFAZ) plans to buy property in the center of Moscow, Russian Trade Representative in Azerbaijan Yuri Shchedrin said. “SOFAZ plans to buy VIP-estate in Moscow to implement business activity,” Shchedrin said.
He said that SOFAZ’s recent decision on asset placement in rubles in the Russian financial market testifies to the trusting relations between the parties. He added that SOFAZ will place around $500 million in the Russian financial market in the near future………………………………………..Full Article: Source

The Abu Dhabi sovereign wealth fund ADIA has bought the Zuiderpoort office in Ghent from Icelandic bank SJ1 in Belgium’s largest office deal this year. The purchase price was not disclosed but specialists estimate it at around €110m for a 10% initial yield.
The 10-storey property with 63,000 sq.m. GLA is fully-let to 16 tenants, said realtors DTZ and Savills which advised SJ1 on the transaction. Tenants include the federal agency for public real estate matters in Belgium (Regie der Gebouwen), Flemish government tenant IBBT, ING bank and Ghent University……………………………………….Full Article: Source

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Kuwait Financial Centre, Markaz, has been appointed by the Kuwait Investment Authority to manage its National Real Estate Portfolio. The agreement will see Markaz set up and manage a portfolio of properties with a value of not more than $885.7m (KWD: 250m) over a ten-year period.
This would equate to around 28.6% of all of the assets under management held by Markaz at September 30, 2012. Fees will be dependent both on the amount invested and the portfolio’s returns………………………………………..Full Article: Source

Since Paulson & Co and the Winthrop Realty Trust missed a debt interest payment, it triggered the auction in the Fall of 2012 for Club PGA West. The only known bidder so far for Club PGA West is GIC RE, the sovereign wealth enterprise of the Government of Singapore Investment Corporation (GIC).
If there is more than one bidder the auction date will start on December 6, 2012. The Government of Singapore Investment Corporation has been a major creditor to a portfolio of luxury properties including Club PGA West………………………………………..Full Article: Source

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The Canada Pension Plan Investment Board (CPPIB) has been a major Brazilian institutional real estate investor. Billions of Canadian public pension dollars have flown past the United States and the Caribbean Sea into Brazil’s real estate assets.
The CPPIB is increasing exposure by investing US$ $343 million into joint partnerships to acquire two large portfolios in Brazil. These partnerships are with Asian sovereign wealth funds and other real estate related entities………………………………………..Full Article: Source

Alternative asset managers targeting sovereign wealth fund (SWF) money have to be much more than alpha-generators, a former CIO has revealed. Scott Kalb, who recently completed a term as CIO of the Korean Investment Corporation (KIC), said in a backstage interview with sector specialist Opalesque TV this month that picking any manager involved a long and detailed process, but when dealing with alternatives firms, investors had to be especially careful.
Kalb said: “You’re not in public markets, you’re investing as an LP and so you have an LP-GP relationship. You have to set up a process that’s looking at things like track record, staffing, management………………………………………..Full Article: Source

Blackstone Group LP (BX) expects to increase sales of its property holdings in the next year, with potential buyers including real estate investment trusts and sovereign wealth funds, said Jonathan Gray, the firm’s global head of real estate.
Blackstone this year finished raising $13.3 billion for the largest-ever private-equity real estate fund. The company, based in New York, is moving to sell investments from prior funds as it invests its new pool………………………………………..Full Article: Source

China Investment Corporation (CIC), the PRC’s $480 billion sovereign wealth fund, has completed its first direct office acquisition in London, according to reports in the UK national and property press.
The $480 billion state fund and joint venture partner Invesco Real Estate completed the purchase of Winchester House in the City of London for £245 million (€307.45 million; $391.88 million) from German open-ended fund manager KanAm………………………………………..Full Article: Source

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China Investment Corporation, the country’s $410-billion sovereign wealth fund, is eyeing investment opportunities in the high-end property market in Paris as it seeks higher yields than those from traditional financial assets, according to French property experts.
“We are in talks with CIC, which has expressed an interest in investing in the prime property market in Paris,” said Alexandra Li, head of Asia Business Development at real estate company Jones Lang LaSalle in France………………………………………..Full Article: Source

China Investment Corporation, the country’s $410-billion sovereign wealth fund, is eyeing investment opportunities in the high-end property market in Paris as it seeks higher yields than those from traditional financial assets, according to French property experts.
“We are in talks with CIC, which has expressed an interest in investing in the prime property market in Paris,” said Alexandra Li, head of Asia Business Development at real estate company Jones Lang LaSalle in France………………………………………..Full Article: Source

Dymon Asia Capital is branching out to the private equity world, launching a fund with backing from a unit of Singapore investment firm Temasek Holdings, a company email obtained by Reuters shows, indicating an uncommon move by a hedge fund.
The firm aims to raise S$300 million for Dymon Asia Private Equity (DAPE), Mr Keith Tan, Dymon’s managing partner told clients in an email this month. Mr Tan did not respond to an emailed request for comment. The new private equity fund is getting S$100 million from Heliconia Capital Management, a subsidiary of Temasek, the email showed………………………………………..Full Article: Source

APG Asset Management, one of the world’s largest pension asset man agers, and at least two sovereign wealth funds — Abu Dhabi Investment Authority and The Government of Sin gapore Investment Corp— will invest directly in the Indian real estate market moving away from their earlier strategy of routing investments through PE funds.
The move to directly invest comes at time when nearly half the real estate funds in India have been unable to offer attractive returns as India’s once soaring real estate sector is crippled by increasing debt and plunging sales. In the last five years realty funds have delivered exits worth $4 billion (Rs 21,000 crore), compared with $17 billion of foreign direct investment raised for the sec tor, according to industry estimates………………………………………..Full Article: Source

China Investment Corporation, the manager of China’s $410 billion sovereign fund, is in talks to buy Deutsche Bank’s headquarters building in London for 250 million pounds ($403 million), according to British media reports.
The planned purchase is taking place amid a shifting pattern of China’s overseas investment in recent years, from financial assets such as bonds to real assets such as infrastructure and real estate, said Mark Williams, London-based chief Asia economist of macroeconomic research company Capital Economics………………………………………..Full Article: Source

APG Asset Management, one of the world’s largest pension asset managers, and at least two sovereign wealth funds-Abu Dhabi Investment Authority and The Government of Singapore Investment Corp-will invest directly in the Indian real estate market, moving away from their earlier strategy of routing investments through private equity funds.
The move to directly invest comes at a time when nearly half the real estate funds in India have been unable to offer attractive returns as India’s once soaring real estate sector is crippled by increasing debt and plunging sales………………………………………..Full Article: Source

China’s sovereign wealth fund is expanding its presence in the United Kingdom by getting more involved in London’s property market.
China Investment Corporation, the manager of China’s $410 billion sovereign fund, is in talks to buy Deutsche Bank’s headquarters building in London for 250 million pounds ($403 million), according to British media reports………………………………………..Full Article: Source

Two global sovereign wealth funds have invested A$872 million ($904 million) in Australian shopping centres through wealth manager AMP Ltd as part of an asset swap deal with mall owner Westfield Group.
AMP said it has bought Westfield and Westfield Retail Trust’s interests in three shopping malls for A$1.025 billion ($1.06 billion). It sold interests in four centres to Westfield and Westfield Retail Trust for A$710 million. The transaction was backed by Canada Pension Plan Investment Board (CPPIB) and Harina Co Ltd, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA)………………………………………..Full Article: Source

Two of the world’s largest sovereign wealth and pension funds Canada Pension Plan Investment Board, or CPPIB, and Abu Dhabi Investment Authority, or ADIA, are betting that Australians will keep shopping in-store, despite the rise of online alternatives.
CPPIB along with ADIA’s wholly-owned subsidiary Harina Company Ltd. have each paid 436 million Australian dollar (US$451 million) for a 37% stake in AMP Capital Retail Trust. The unlisted property trust owns half of Sydney’s Macquarie Centre and 80% of Gold Coast’s Pacific Fair Shopping Centre………………………………………..Full Article: Source

Government of Singapore Investment Corp. is investing in a 30-year-old San Francisco office tower that’s valued at about $900 million, according to one person with direct knowledge of the transaction.
GIC, as the Singapore sovereign wealth fund is known, is part of a group that’s taking control of 101 California Street in San Francisco’s financial district, said the person, who asked not to be identified because the information isn’t public. The fund declined to comment………………………………………..Full Article: Source

Chinese private equity fund Cathay Fortune has turned hostile on Discovery Metals, the ASX-listed African copper producer, by going directly to shareholders with its $830 million takeover offer after its initial setback. It made a joint bid for Discovery Metals early this month with the Chinese sovereign wealth fund, China-Africa Development Fund. The board of Discovery Metals turned down the overture, saying the offer was inadequate.
The largest shareholder of Cathay Fortune, Yu Yong, said in a statement to the Australian Stock Exchange that the refusal by the board of Discovery Metals to engage with his company left it with no choice but to launch a hostile takeover bid………………………………………..Full Article: Source

A Chinese sovereign wealth fund is set to become a landlord in the UK’s most important office market: the City of London. China Investment Corporation (CIC), the country’s $410bn fund, is in talks to buy Deutsche Bank’s UK headquarters for £250m.
According to people close to the situation, Invesco, the asset manager, will buy the 312,000 sq ft office block on behalf of CIC. Invesco declined to comment………………………………………..Full Article: Source