Real Estate Asset Class

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TIAA-CREF Hops Across The Pond

In an effort to focus on European real estate, TIAA-CREF is opening a location overseas, its first foreign office since the plan's creation 90 years ago. According to a statement issued by the plan, TIAA-CREF is looking to increase its access to value-added and long-term investment opportunities in the region. …

Fresno County Adopts New A/A

The Fresno County Employees' Retirement Association (FCERA) has adopted a new asset mix which includes allocations to opportunistic fixed-income, hedge funds and real assets, said Roberto Pena, administrator at the $2.7 billion fund. The changes are due to the results of a recently completed asset/liability study conducted by Wurts & Associates. …

Oregon Council Commits to Three New Funds

The Oregon Investment Council (OIC) made three new investments at its meeting on Wednesday, spokesman Ley Garnett told IMW via e-mail. AllianceBernstein received $200 million for its All Asset Deep Value Fund L.P. 'It's planned to be a $2 billion fund to take opportunities in residential real estate, Garnett said via e-mail. …

Texas ERS Hunts for Real Estate Consultant

The Employees Retirement System of Texas (ERS) is aiming to bring a consultant on board to assist with the development of a long-term real estate investment strategy, said Mary Jane Wardlow, spokeswoman for the fund. She explained that the search evolved from the decision invest in the asset class two years ago (See IMW, 12/18/06). At that time the ERS board decided to add a 15% allocation to real estate and private equity, with 7% going…

Iowa Regents Examines Assets

The $1.8 billion Board of Regents for the State of Iowa is currently undergoing a review of its asset allocation, said Chief Business Officer Patrice Sayre. 'This is a formal review with our financial investment advisor, Wilshire Associates,' she said, adding that plan changes will be brought to the August Board of Regents meeting for discussion and anticipated approval. According to the minutes for the Regents April meeting, the board will consider increasing its investments in real…

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Alaska Perm Hunts for Real Estate Analyst

The $37 billion Alaska Permanent Fund Corporation (APFC) is looking for a new real estate investment analyst, according to its Web site. The plan is looking for someone to assist the manager of real estate investments in 'conducting research and analysis and performing specific portfolio and manager oversight activities.'

San Bernardino Makes New Investments

The San Bernardino County Employees' Retirement Association (SBCERA) recently made commitments to three new funds, said Don Pierce, investment officer with the $6 billion plan. The board approved real estate investments of $20 million each in Bryanston Real Estate Opportunity Fund II and Square Mile Partners III. Also approved was a $30 million investment in Invesco's high yield debt fund II.

Texas ERS Hunts For Real Estate Consultant

The Employees Retirement System of Texas (ERS) is aiming to bring a consultant on board to assist with the development of a long-term real estate investment strategy, said Mary Jane Wardlow, spokeswoman for the fund. She explained that the search evolved from the decision to invest in the asset class two years ago (See IMW, 12/18/06). At that time the ERS board decided to add a 15% allocation to real estate and private equity, with 7% going to real estate. The board has since hired Altius Associates as its private equity consultant (See IMW, 6/4/07).

Worcester Hunts For Non-Core Real Estate

The Worcester Retirement System has issued an RFP for a non-core real estate manager to oversee between $5 million and $15 million in value-added, opportunistic and fund-of-funds strategies for the plan. The account will be benchmarked against the NCREIF Property index, according to the RFP.

NYC Board Of Ed Eyes Real Estate

The City of New York Office of the Comptroller has hit the market for private equity real estate managers on behalf of the New York City Board of Education Retirement System (NYCBERS). According to the RFQ issued for the search, NYCBERS is looking for one or more managers to oversee $130 in private equity real estate investments through fund-of-funds, manager-of-managers, limited partnerships, open-end real estate funds and other investment vehicles. The plan wants to gain exposure to 'a diverse range of property types' through core and enhanced/opportunistic investments.

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