California State Teachers' Retirement System (CalSTRS) has created a PS500 million separate account with Principal Real Estate Investors to invest in industrial assets in the United Kingdom.
The collapse of Carillion Plc with more than half a billion pounds of unfunded pension commitments may increase pressure on some of the nation’s biggest companies to plug their own funding gaps.
If the basic tenet of investing is knowing when to buy and sell, the stock market boom has taken that decision out of the hands of some money managers. The $2.9 trillion British pension fund industry is yanking money at an accelerated pace as company valuations forge new records globally.
The UK government wants to encourage more pension funds to make long-term investments in the country's economy. Chancellor Philip Hammond, head of the Treasury department, presented his latest national Budget report to parliament today and pledged to "unlock over PS20 billion" for "scale-up businesses" in the UK.
In October, an endowment and two pension funds appointed new leaders to manage billions of dollars in assets. Senior investment professionals moved to other institutions, and an alternatives asset manager named changes to its executive staff. Here are the top institutional investment moves in October:
The Local Government Pension Scheme's Access pool has appointed UBS Asset Management to run the consolidated passive mandates for 11 administrating authorities.
Ventas Inc. sees more similarities than differences between the senior housing markets in the United States and the United Kingdom and is bullish on the prospects for growth across the pond.
The $60 billion United Nations Joint Staff Pension Fund is accepting nominations for a new chief investment officer, and Trusted Insight created a shortlist of 10 highly qualified candidates poised to assume (or maintain) the role.
Asia Pacific investment in London property is at a five-year high and accounted for almost half the deals in the first six months of 2017, according to research by real estate consultancy Cushman & Wakefield. Asia Pacific firms spent more than $4.4 billion on residential and commercial property in London in the six months to July, almost half of the $8.8 billion total investment.
Improbable, a UK startup dedicated to building vast virtual worlds, has been valued at more than $1 billion after raising $502 million in a funding round led by Japan's SoftBank. The investment is the largest ever round of venture financing for a private British company, reports the Financial Times, and catapults Improbable into an elite tier of tech companies valued at more than $1 billion.