| From WSJ: South Korea's National Pension Service, the world's fifth-largest pension fund, has committed to invest $300 million in troubled real estate through Townsend Group, the latest sign that foreign investors increasingly are venturing into the down-on-its-luck U.S. property market.
The pension fund has committed to invest the money in a separately managed account with Cleveland-based Townsend. Its primary focus will be on snapping up stakes in distressed private-equity real-estate funds and recapitalizing them..............................................Full Article: Source
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