15.04.2013 - Kuwaiti group invests in $15bln project
The Kuwait Investment Authority is investing in the $15bn Hudson Yards office property project in Manhattan in a deal that illustrates how conservative sovereign wealth funds are taking on greater risk in the pursuit of higher returns. Sovereign wealth funds typically buy premier buildings for their rental yields or invest in real estate funds managed by private equity groups. But with rental yields hovering around 4 per cent, sovereign wealth funds are now taking on development and construction risk on new buildings in the hope of earing double-digit returns on such investments...............................................Full Article: Source
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