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Korean Sovereign Fund to Double Alternative Assets (Video)

Posted on 22 January 2015 by VRS  |  Email |Print

Korea Investment Corp., South Korea’s $85 billion sovereign wealth fund, plans to more than double its allocation to alternative investments by the end of 2015, said Chairman and Chief Executive Hongchul Ahn.……………………………………….Full Article: Source

China’s European Shopping Spree

Posted on 22 January 2015 by VRS  |  Email |Print

China’s European presence blossomed in 2008 in debt-ridden Greece, where Beijing-owned shipping giant Cosco started building a European hub around the Pirea Harbour, near Athens. Even in Germany, the eurozone’s largest economy, medium-size companies such as manufacturer Putzmeister and electronics firm Medion now have Chinese owners.
An important question is whether China could—perhaps through its sovereign fund, China Investment Corp.—contribute to Europe’s new €315 billion long-term reconstruction plan. As conceived by the European Commission, the package seeks to jumpstart the European Union economy after years of recession. Further Chinese investment, especially in European infrastructure, could help………………………………………..Full Article: Source

Asian Fund Pays $1,800 Per Sq Ft For Silicon Valley Complex

Posted on 15 January 2015 by VRS  |  Email |Print

Sand Hill Road in Menlo Park, Ca. is renowned for being one of the most prestigious office addresses in Silicon Valley. Now it’s also setting new records for office building sale prices.
An Asian sovereign wealth fund represented by Invesco Real Estate has purchased a 49% stake in Sand Hill Commons in a deal that values the 133,000 complex at $240 million, according to people familiar with the matter. The price for the property at 2882 and 2884 Sand Hill Road, roughly $1,800 a square foot, is one of the highest paid for Silicon Valley real estate, brokers say………………………………………..Full Article: Source

ADIA in talks with Runwal for a joint development venture

Posted on 15 January 2015 by VRS  |  Email |Print

United Arab Emirates-based sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is in talks with Indian developer Runwal Group to jointly buy land and develop properties in India, said two persons in the know.
If the talks fructify, this will be ADIA’s second joint venture in India. It has forged a similar arrangement with Hines India Real Estate, the Indian arm of US-based property investment and management firm Hines, to invest in properties across north India………………………………………..Full Article: Source

Crowded by Gulf wealth? Locals forced out of London’s property investment

Posted on 14 January 2015 by VRS  |  Email |Print

Last year, more than 55 billion pounds ($83.5 billion) was invested in commercial property across the country, much of it by pension funds, insurers and sovereign wealth funds looking for steady, long-term income. But local investors are increasingly seeing advantage elsewhere.
After improving a building – with a view to holding it for an average of seven to 10 years – the investment arm of insurer Legal & General can sell it as a performing asset to another long-term holder such as a pension scheme or sovereign wealth fund………………………………………..Full Article: Source

Qatari firm invests in major tourist projects in Egypt

Posted on 12 January 2015 by VRS  |  Email |Print

Qatari Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country’s growing economy and to implement real estate development projects inside and outside Qatar.
QIA is a sovereign wealth fund that serves local and foreign investments. It was established by the Qatari Government in 2005 to manage the surpluses of oil and natural gas. QIA’s assets range between $100bn and $200bn………………………………………..Full Article: Source

Qatari Diar invests in Egypt with 2 major tourist projects

Posted on 12 January 2015 by VRS  |  Email |Print

Qatari Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country’s growing economy and to implement real estate development projects inside and outside Qatar.
QIA is a sovereign wealth fund that serves local and foreign investments. It was established by the Qatari Government in 2005 to manage the surpluses of oil and natural gas. QIA’s assets range between $100bn and $200bn………………………………………..Full Article: Source

Singapore’s GIC deepens India real estate exposure

Posted on 12 January 2015 by VRS  |  Email |Print

Singapore’s sovereign wealth fund (SWF), GIC Private Limited, has extended its recent investments into India’s real estate market via a partnership with private equity firm Kohlberg Kravis Roberts & Co (KKR).
The tie-up will see KKR, which manages more than US$96 billion, establish a non-banking financial company (NBFC) to provide structured credit for India’s property sector. GIC, one of the world’s largest sovereign investors, will provide an unspecified investment………………………………………..Full Article: Source

KKR teams with GIC to form non-banking finance company in India

Posted on 09 January 2015 by VRS  |  Email |Print

KKR, the global investment firm, has formed its second non-banking financial company (NBFC) for the Indian market, with an investment from Singapore’s sovereign wealth fund GIC. The new platform will provide structured credit to the country’s real estate sector, the company said in a statement on Thursday.
The amount to invested by GIC has not been disclosed. Through its first NBFC, KKR provided solutions across the capital structure. Since 2009, KKR has extended more than $2 billion of structured financing to 21 business groups in India………………………………………..Full Article: Source

Qatari Diar transfers Al Khaliji stake to Qatar Investment Authority

Posted on 08 January 2015 by VRS  |  Email |Print

Qatari Diar has transferred its shares in Al Khaliji Commercial Bank to Qatar Investment Authority (QIA), the property arm of Qatar’s sovereign wealth fund said on Wednesday. Diar, which had been Al Khaliji’s largest shareholders, moved 61.9 million shares in Qatar’s sixth-largest bank to QIA on Tuesday, without providing further details.
Based on Al Khaliji’s closing price on Tuesday, the stock was worth 1.35 billion riyals ($370.9 million), according to Reuters calculations………………………………………..Full Article: Source

Sovereign funds bet big on Indian commercial realty

Posted on 06 January 2015 by VRS  |  Email |Print

The new year could well turn out to be a big one for the commercial real estate sector as $1-1.5 billion or up to Rs 10,000 crore could get invested in rent-yielding assets like offices and malls by large sovereign and private equity funds alone.
Sovereign/pension funds with deep pockets like GIC, Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA), dutch pension fund APG and bigger foreign funds like Blackstone, Brookfield, Xander would vie for at least 15-20 million square feet of assets in 2015, say sources………………………………………..Full Article: Source

Singapore Wealth Fund GIC Bets on India Real Estate

Posted on 02 January 2015 by VRS  |  Email |Print

In a sign that Indian real estate is back on the map for international investors, Singapore’s sovereign wealth fund is making a second bet on the sector in a month. GIC Pte. Ltd., with over $100 billion of assets under management, said that it plans to buy a controlling stake in Mumbai-based real estate firm Nirlon Ltd. for around $200 million, according to a press release late Tuesday.
Earlier this month, GIC had entered into a joint venture with Indian firm Vatika Group to develop two residential projects in the suburbs of Delhi. “GIC is confident of India’s growth potential over the long term,” Loh Wai Keong, co-head Asia at GIC Real Estate, had said in a statement at the time………………………………………..Full Article: Source

Singaporean sovereign wealth fund beefs up global property portfolio

Posted on 02 January 2015 by VRS  |  Email |Print

Singapore’s GIC Pte Ltd, through international affiliates, recently invested in several property ventures around the world in an effort to achieve significant presence in various foreign markets. One of the fund’s latest investments include an agreement to acquire IndCor Properties, an industrial real estate company based in Chicago, from Blackstone Group LP, in a deal worth USD8.1 billion.
According to the Singaporean Business Times, IndCor owns nearly 11 million sqm of warehousing and distribution spaces in the United States. The company was formed by Blackstone in 2010 and currently operates in 23 states. The acquisition by GIC is expected to conclude in the first quarter next year………………………………………..Full Article: Source

New Mexico earmarks $400m for real estate fund commitments in 2015

Posted on 19 December 2014 by VRS  |  Email |Print

The New Mexico State Investment Council is to allocate $300m-400m (€320.9m) to real estate funds next year. Vince Smith, deputy investment officer for New Mexico, said most of the capital will be placed in a non-core strategy.
“I think that we are pretty set with our core manager lineup,” Smith said. New Mexico will focus on offshore strategies to complement its US-based portfolio, with additional capital allocated to investments Europe………………………………………..Full Article: Source

Sovereign funds eye Mumbai’s commercial complex

Posted on 19 December 2014 by VRS  |  Email |Print

Global pension and sovereign funds including Canada Pension Plan Investment Board (CPPIB), APG, Abu Dhabi Investment Authority are in talks with private equity firm Milestone Capital to acquire 1.12-million-sq-ft commercial property 247 Park in Mumbai, two persons familiar with the development said. The deal, expected to be valued over Rs 1,000 crore, indicates the rising appetite for income-producing office properties.
Sovereign wealth fund owned by the emirate of Abu Dhabi, according to persons mentioned above, is looking to acquire the asset independently. Last year, ADIA had committed $200 million to Kotak Realty Fund to invest in Indian real estate. Kotak Realty has denied holding any talks for the asset 247 Park on behalf of ADIA………………………………………..Full Article: Source

GIC to develop two projects near Delhi

Posted on 18 December 2014 by VRS  |  Email |Print

Sovereign wealth fund GIC continues to have a strong appetite for real estate - turning its sights on India for its latest deal. It has entered into a joint venture with Indian property firm Vatika Group to develop two residential projects in Gurgaon near the nation’s capital New Delhi. The two firms said in a joint statement yesterday that the projects will meet demand for high-quality residential units.
Vatika, which is involved in a wide spectrum of real estate, including residential, commercial, township and facilities management projects, will be the developer. The two projects have a development potential of more than 2.3 million sq ft and are set to generate revenues of some 20 billion rupees (S$420 million) when completed by the 2018-2019 financial year. No other financial details were made known………………………………………Full Article: Source

India HDFC’s fund targets raising $500 million for real estate: sources

Posted on 18 December 2014 by VRS  |  Email |Print

A private equity fund set up by Housing Development Finance Corp Ltd (HDFC.NS), India’s biggest mortgage lender, is targeting raising $500 million to invest in residential real estate projects, said people directly involved in the process.
HDFC Property Fund plans to raise part of the funding from investors, including Government of Singapore Investment Corp (GIC), investment firm Temasek Holdings and Oman’s State General Reserve Fund, one of the people said. HDFC, GIC, Temasek and Oman’s State General Reserve Fund declined to comment. The sources declined to be named as the fundraising plan is not public yet………………………………………Full Article: Source

Qatar Fund Acquires HSBC’s London Base From Korean Pension Fund

Posted on 17 December 2014 by VRS  |  Email |Print

Qatar Investment Authority, the sovereign-wealth fund seeking to gain control of London’s Canary Wharf financial district, bought the headquarters of HSBC Holdings Plc from the National Pension Service of Korea.
JPMorgan Chase & Co., which advised NPS, announced the sale of 8 Canada Square in Canary Wharf in a statement yesterday without giving the price. Qatar paid about 1.2 billion pounds ($1.9 billion), according to a person with knowledge of the deal who asked not to be identified because the information is private…………………………………..Full Article: Source

Singapore’s GIC forms venture with Vatika Group

Posted on 16 December 2014 by VRS  |  Email |Print

GIC Pte Ltd, Singapore’s sovereign wealth fund, formed a joint venture with property developer Vatika Group for two residential projects near New Delhi, the two firms said in a statement on Monday.
The projects in Gurgaon, to be developed by Vatika Group, are expected to be completed by financial year 2018-19 and are forecast to generate revenue in excess of 20 billion rupees ($319 million), they said……………………………………..Full Article: Source

Singapore’s GIC enters Indian residential property joint venture

Posted on 16 December 2014 by VRS  |  Email |Print

GIC has entered a joint venture on Indian residential housing.Singapore’s sovereign wealth fund said it agreed to co-invest in the development of two residential projects with local builder the Vatika Group.
The projects, on India’s Dwarka expressway in Gurgaon, are due for completion in 2018. GIC said the schemes were expected to generate IND2000 crore (€252m) in revenues once completed……………………………………..Full Article: Source

Why Sovereign Wealth Funds Need Private Equity

Posted on 16 December 2014 by VRS  |  Email |Print

According to the Sovereign Wealth Fund Institute (SWFI), direct sovereign wealth fund transactions from the 3rd Quarter of 2014 back 12 months, totaled US$ 203.61 billion. This is an unprecedented amount of sovereign wealth capital flowing toward direct investing in assets and companies. With that being said, sovereign wealth funds are constantly on the prowl, seeking various channels to manage their money on a risk-adjusted basis.
About 15 of the top 25 sovereign wealth funds ranked by assets under management, have an allocation to private equity funds. Private equity is an asset class, where sovereign wealth funds are able to put their capital to work on a long-term, illiquid basis. With increased volatility in U.S. equities, a realization of change with regard to U.S. interest rates and lower expected returns in public markets, public asset owners have augmented allocation to private markets……………………………………..Full Article: Source

National pension fund sells office building in London

Posted on 15 December 2014 by VRS  |  Email |Print

South Korea’s national pension fund said Sunday it has sold a prime office building in London to Qatar’s sovereign wealth fund, reaping a profit of 960 billion won (US$871 million).
The National Pension Service (NPS) said it sold the head office of global banking giant HSBC, which it acquired in 2009 following the 2008 global financial crisis, to the Qatar Investment Authority. The NPS didn’t disclose the sale price, simply saying it has recorded 960 billion won in earnings………………………………………..Full Article: Source

German Kauri, Swedish Apeiron join SWF in €300m German housing JV

Posted on 11 December 2014 by VRS  |  Email |Print

Kauri CAB Management and Apeiron Capital have teamed up with an unnamed sovereign wealth fund to invest in German residential property. The joint venture has invested €130m in a portfolio of 1,675 residential and 105 commercial units within 61 residential buildings in Germany.
The 120,000sqm Zeus portfolio, spread across Magdeburg and Berlin, was sold by Zentral Boden Immobilien (ZBI). The partnership, which has an initial starting equity capital of €100m, is aiming to build a €300m portfolio including leverage………………………………………..Full Article: Source

Singapore Sovereign Fund Bets Big on Trophy Real Estate

Posted on 09 December 2014 by VRS  |  Email |Print

Lim Chow Kiat, a 44-year-old man with a calm demeanor and a dimpled smile, is known as someone who doesn’t stray from his habitual ways. Friends and colleagues say Lim — group chief investment officer of GIC Pte, Singapore’s sovereign wealth fund — has kept his hair short and worn the same style of square, black-framed glasses for as long as they can remember.
“He probably looked exactly the same when he was a child,” says Lam Poh Min, who used to sit next to Lim before leaving GIC in 2004 to co-found Singapore-based Octagon Capital Management Pte, one of the first quant hedge funds in Asia………………………………………..Full Article: Source

Qatar fund and partner raise offer for Canary Wharf-owner Songbird

Posted on 05 December 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund and a North American investor have upped their joint bid for Songbird Estates, the owner of London’s Canary Wharf financial district, with an offer that values the company at 2.6 billion pounds ($4.1 billion).
Songbird is the majority owner of the Canary Wharf estate, established about 25 years ago on former docks as a new financial zone. It is also a part owner of the landmark “Walkie Talkie” skyscraper in the City, London’s traditional business area………………………………………..Full Article: Source

Brookfield, Qatar raise bid to $4.6-billion in Canary Wharf deal

Posted on 05 December 2014 by VRS  |  Email |Print

The property arm of Canada’s Brookfield Asset Management and a Qatar investment fund have boosted their bid for the British company that controls Canary Wharf in a final effort to take control of Europe’s largest office development.
At the same time, the Qatari Investment Authority (QIA) will pay $1.8-billion (U.S.) for preferred shares that will give it 9 per cent of Brookfield Property Partners, which is controlled by Toronto-listed Brookfield Asset Management Inc. The deal is designed to give Brookfield, with the Qataris at its side, enough financial firepower to fund the British takeover attempt and possibly others as the two powerhouses roam the planet for investments………………………………………..Full Article: Source

Qatar’s Barwa Signs Deal To Sell Land Plots For $1.47bn

Posted on 03 December 2014 by VRS  |  Email |Print

Qatar’s Barwa Real Estate has signed a deal to sell two plots of land for a combined QAR5.34 billion ($1.47 billion) to an unidentified buyer, the company said on Tuesday. Qatar’s government owns a 45 per cent stake in Barwa, according to Reuters data. In October, the developer said it would sell land worth QAR2.54 billion ($697.4 million) to the government.
Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, stepped in with financial aid last year, agreeing to buy some of Barwa’s assets for $7.1 billion. In June this year, Barwa said it was selling a 95 per cent stake in Barwa Commercial Avenue Co to Qatari Diar for QAR9 billion………………………………………..Full Article: Source

GIC partners with Indonesian firm to jointly invest in CBD properties

Posted on 01 December 2014 by VRS  |  Email |Print

Singaporean sovereign wealth fund GIC Private Limited and Indonesian investment company Rajawali Group recently signed a Memorandum of Understanding to allocate a USD500 million budget for real estate projects in the country. The planned developments, covering residential, office, retail and mixed-use projects, will be focused on top central business districts, especially Jakarta, the Sovereign Wealth Fund Institute reported.
“We are pleased to deepen our relationship with Rajawali, one of the leading investors in Indonesia. GIC is confident in Indonesia’s long-term growth potential and believe we can create value through the acquisition of assets in prime locations and active asset management,” Loh Wai Keong, Asia co-head at GIC Real Estate, said in a statement………………………………………..Full Article: Source

Singapore’s GIC to invest in Indonesia property with Rajawali

Posted on 26 November 2014 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and Indonesia’s Rajawali Group have agreed to jointly invest up to $500 million in equity in property projects in Indonesia, the two companies said in a statement on Tuesday.
The joint venture will look at sectors including office, retail, residential and mixed-use projects mainly in the central business district of Indonesian capital Jakarta, the statement said. Privately-owned Rajawali is one of Indonesia’s largest investment companies………………………………..Full Article: Source

Concierge Treatment: Private Equity Courts Mega Sovereign Funds and Pensions

Posted on 26 November 2014 by VRS  |  Email |Print

Over the past few years, sovereign wealth funds have gained a bit of leverage over private equity managers. Sovereign funds like Kuwait Investment Authority (KIA), China Investment Corporation (CIC) and Abu Dhabi Investment Authority (ADIA), have taken ownership stakes in headline private equity firms such as The Blackstone Group and The Carlyle Group.
As sapient sovereign funds and mega pensions boost the ranks of their internal private equity teams, they will be larger actors in co-investments and direct deals. According to the Sovereign Wealth Fund Transaction Database, in the first half of 2014, sovereign funds invested directly US$ 51.3 billion. This compares to US$ 42.6 billion in the first half of 2013………………………………..Full Article: Source

Norway’s oil fund, TIAA-CREF buy Washington property

Posted on 17 November 2014 by VRS  |  Email |Print

Norway’s sovereign wealth fund and U.S. financial services group TIAA-CREF have bought a Washington D.C. property in a deal valuing the site at $165 million, the fund said on Friday.
The fund bought a 49.9 percent stake for $82.3 million, which according to the statement has no debt, while TIAA/CREF bought the rest and will manage it on behalf of the partnership, it added. The property was bought from The Maritime Engineers Beneficiary Association, which will have a 99 year lease on it………………………………….Full Article: Source

Norway’s oil fund targets ‘forever’ horizon in real estate market

Posted on 17 November 2014 by VRS  |  Email |Print

Targeting an investment horizon of “forever”, Norway’s $860 billion oil fund plans to enter the Asian real estate market next year and aims to broaden its asset range to include anything from new developments to refurbishments, it said.
Stepping up its activity after a gradual start and aiming to invest around $8-$10 billion a year, the fund will also do more property deals on its own as it struggles to find partners with deep enough pockets, Karsten Kallevig, its real estate chief, told Reuters………………………………….Full Article: Source

China and Qatar buying London properties

Posted on 12 November 2014 by VRS  |  Email |Print

Sovereign wealth funds, forked out $8.9 billion for properties in London in the past year. London alone made up 44% of real estate investments of all foreign government money via their sovereign funds, according to research by Real Capital Analytics, a real estate research firm.
Qatar was the top spender, with Kuwait, China and Norway close behind. The Qatari sovereign wealth fund owns some of London’s most famous landmarks including the E.U.’s tallest building, the Shard, Harrods department store, and the Olympic village. In the last three years, the oil nation has spent $6.3 billion on London real estate………………………………………..Full Article: Source

CIC Says Private Equity to Benefit from China’s Overseas M&A Activity

Posted on 12 November 2014 by VRS  |  Email |Print

Private equity players are set to benefit as China’s private companies play a more important role in overseas acquisitions, said Linbo He, head of private equity at China Investment Corp., one of the world’s largest sovereign wealth funds.
Overseas mergers and acquisitions have long been dominated by Chinese state-owned enterprises given they have easy access to capital, are large in size and have resources and connections. But earlier this year Beiijing relaxed rules for private Chinese companies when they seek acquisitions abroad as the Asian country seeks to boost outbound investment………………………………………..Full Article: Source

UAE’s Aabar buys 5.1% stake in Egyptian developer

Posted on 10 November 2014 by VRS  |  Email |Print

Aabar Investments has acquired a 5.1 percent stake in Egypt’s second-largest listed real estate developer Palm Hills, Palm Hills said in a statement on Sunday. Palm Hills is valued on the Egyptian Stock Exchange at approximately 5.6 billion Egyptian pounds ($785 million), putting the value of the investment at around 285 million Egyptian pounds, according to Reuters calculations.
Aabar, a subsidiary of the United Arab Emirates’ sovereign wealth fund and run by the Abu Dhabi government, will have a representative on the board, the statement said………………………………………..Full Article: Source

GIC takes another bite of New Zealand real estate sector in joint venture for 5 malls

Posted on 07 November 2014 by VRS  |  Email |Print

Sovereign wealth fund GIC is increasing its interests in the real estate sector in New Zealand. It said on Thursday that it has entered into a joint venture partnership with Scentre Group to acquire five New Zealand malls with a combined gross value of NZ$2.1 billion.
GIC will own a 49 per cent interest in each of the five malls in New Zealand - Westfield Albany, Westfield Manukau, Westfield Newmarket, Westfield Riccarton and Westfield St Lukes. Scentre is New Zealand’s largest shopping centre operator, managing about nine shopping centres with annual sales in excess of NZ$2 billion………………………………………..Full Article: Source

Singapore fund buys into NZ Westfield shopping centres

Posted on 07 November 2014 by VRS  |  Email |Print

A billion dollar property deal by Singapore for a stake in some of New Zealand’s top shopping malls shows the super city model has made Auckland attractive to overseas investors, a property industry boss says. Singapore Government’s investment fund GIC has paid A$930 million ($1.1 billion) for 49 per cent ownership in five Westfield Shopping Centres as part of a joint venture with the malls’ owner, the ASX-listed Scentre Group.
Four of the five malls are in Auckland, at Albany, Manukau, Newmarket and St Lukes, with the other one in Riccarton in Christchurch. Scentre will continue to manage them. Its Glenfield, WestCity, Queensgate in Wellington and Chartwell in Hamilton are not involved in the deal………………………………………..Full Article: Source

Kuwait targets property lending with €1.2bn for Cale Street

Posted on 06 November 2014 by VRS  |  Email |Print

Kuwait Investment Authority is backing a new London-based property investment group Cale Street Partners with €1.2bn, aimed at building the sovereign wealth fund a new platform for real estate lending in Europe.
Cale Street was established in July by former Goldman Sachs’s global real estate principal investment head Edward Siskind, according to company filings. Just weeks later a separate entity, Cale Street Holdco Ltd, was established, whose board includes Martin Dore and Charles Magnay from KIA’s London-based investment arm, Kuwait Investment Office………………………………………..Full Article: Source

Qatar’s wealth fund says likes China’s property, among others

Posted on 05 November 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund and one of the world’s most aggressive investors, Qatar Investment Authority, is keen to invest in China’s property, infrastructure and healthcare sectors, Chief Executive Ahmed Al-Sayed said on Tuesday.
The fund, which is estimated to have around $170 billion, also plans to invest between $15 billion and $20 billion in Asia in the next five years, Al-Sayed said………………………………………..Full Article: Source

Gulf Region Investment in U.S. Real Estate Surges 51%

Posted on 05 November 2014 by VRS  |  Email |Print

Persian Gulf investors from sovereign wealth funds to rich individuals increased spending on U.S. real estate, attracted by the pace of economic growth, a survey by Jones Lang LaSalle Inc. showed. Gulf Cooperation Council countries invested $1 billion in U.S. property this year, a 51 percent gain over the year-earlier period, according to the survey released in Dubai.
Wealth funds and institutional investors are spending more on real estate to diversify their holdings, Jones Lang said……………………………………….Full Article: Source

Real Estate Investments Less Attractive for SWFs, Report Says

Posted on 05 November 2014 by VRS  |  Email |Print

The shine may be wearing off for high-end real estate investments by sovereign wealth funds, according to a new report, a consequence of perceived market frothiness and increased competition for property assets. Sovereign wealth funds collectively closed $5.9 billion in real estate deals in the first half of this year, according to the report from Institutional Investor’s Sovereign Wealth Center. That was a 43% decline in value compared to the same period last year.
Sovereign funds, some of the largest of which are based in the Middle East, have become major players in real estate in recent years. Funds from Abu Dhabi and Singapore, for example, were the main backers of the $1.3 billion purchase early this year of the Time Warner headquarters building in New York………………………………………..Full Article: Source

Singapore fund buys half GMT’s waterfront properties

Posted on 04 November 2014 by VRS  |  Email |Print

NZX-listed Goodman Property Trust has sold a 49% stake in its Viaduct Harbour developments to a Singapore’s sovereign wealth fund. The move has been slammed by NZ First leader Winston Peters who says New Zealand’s own superannuation fund should be taking up such investments.
Goodman Property describes the move as a joint venture thaat may grow to $500 million eventually. The partnership will initially own a portfolio of assets valued at $313 million………………………………………..Full Article: Source

GIC makes first real estate move into NZ

Posted on 04 November 2014 by VRS  |  Email |Print

After clocking in an ultra-busy month in October, Singapore’s sovereign wealth fund GIC could be keeping up the shopping pace this month. On Monday, the state-linked fund with over US$100 billion of assets under management, revealed its maiden property foray into New Zealand by tying up with Goodman Property Trust (GMT) to co-invest in Auckland’s rapidly developing Viaduct Quarter.
The pact, with one of New Zealand’s largest listed property investor by market value, includes GMT’s existing viaduct property interests. GMT is managed by Goodman (NZ) Ltd………………………………………..Full Article: Source

Alaska sovereign eyes more in Europe after €280m Immochan deal

Posted on 04 November 2014 by VRS  |  Email |Print

Alaska’s sovereign wealth fund is looking to build a larger European real estate portfolio after buying 50% of two shopping centres in Spain and Portugal in a €280m deal with French Immochan as part of a new strategic partnership, says its CEO.
“We are excited about the opportunity to team up with Immochan in our first high quality retail acquisitions in Spain and Portugal,” said Mike Burns, CEO of the Alaska Permanent Fund in a release. “We look forward to expanding this strategic partnership as we work to build out our portfolio across the region.”……………………………………….Full Article: Source

GIC Buys Stake in Turkey Property Firm

Posted on 31 October 2014 by VRS  |  Email |Print

Sovereign-wealth fund GIC Pte. Ltd. is acquiring a stake in a Turkish real-estate firm for 250 million euros (US$316 million), the latest move by the Singapore firm to tap assets in emerging markets.
The sovereign-wealth fund will buy a 20% stake in Rönesans Gayrimenkul Yatýrým A.S., which has 25 properties in its portfolio including shopping malls and offices in Turkey. The transaction is expected to be completed by the end of this year, the companies said in a joint statement………………………………………..Full Article: Source

GIC to take $402m stake in Turkish real estate developer

Posted on 31 October 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC will inject 250 million euros (S$402 million) to acquire a strategic stake in Turkey’s leading commercial real estate developer, Ronesans Gayrimenkul Yatirim (RGY), both firms said.
GIC will acquire “above 20 per cent shareholding in RGY” by subscribing to a rights issue, allowing it to become a “substantial minority” investor and strategic partner. “The new capital will reinforce RGY’s foothold as a leader in the Turkish commercial real estate market and allow for future expansion of its business,” the statement said………………………………………..Full Article: Source

Middle East sovereigns accelerate push to alternatives

Posted on 31 October 2014 by VRS  |  Email |Print

Every Middle Eastern sovereign wealth fund plans to increase its exposure to real estate in the year ahead and most also plan to increase their allocations to private equity, says a long-standing survey of investors based in the region.
The findings – from the Invesco Asset Management Study and based on interviews with 112 investors – underline the trend towards alternative asset classes. Middle East sovereign funds use a “barbell” investment model, says Nick Tolchard, head of Invesco Middle East, who was in Dubai to present the findings………………………………………..Full Article: Source

Qatar set to conclude one of biggest property deals in UK history

Posted on 30 October 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund looks set to conclude one of the biggest property deals in UK history: the purchase of HSBC’s headquarters in London’s Docklands for $1.8bn, Global Construction Review reports.
The Qatari Investment Authority (QIA) has been in competition with two Chinese insurance companies, Ping An and China Life, to buy the 656ft tower, which is London’s largest office building, from South Korea’s National Pension Service (NPS). The tower has made – and lost – considerable sums for its owners in recent years………………………………………..Full Article: Source

Qatar fund set to buy Canary Wharf tower for $1.7bn

Posted on 29 October 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund is believed to have moved ahead of Chinese bidders to buy HSBC’s global headquarters in London’s Canary Wharf for $1.7 billion. In what would be one of the biggest property deals in the UK, Qatar Investment Authority has reportedly agreed to buy London’s biggest and most expensive office building, a 656 foot tower with 45 storeys in the heart of the city’s docklands area.
The building was put on the market in April this year by Korea’s National Pension Service (NPS), who are looking to cash in on London’s booming property market………………………………………..Full Article: Source

Qatar beats Chinese rivals in $1.8bn deal for London’s largest office tower

Posted on 29 October 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund looks set to conclude one of the biggest property deals in UK history: the purchase of HSBC’s headquarters in London’s Docklands for $1.8bn.
The Qatari Investment Authority (QIA) has been in competition with two Chinese insurance companies, Ping An and China Life, to buy the 656ft tower, which is London’s largest office building, from South Korea’s National Pension Service (NPS). he tower has made – and lost – considerable sums for its owners in recent years………………………………………..Full Article: Source

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