Australia’s Future Fund has made further increases to its real estate, private equity and infrastructure portfolios as its overall assets under management grow past the A$70 billion (€50.6 billion; $69.4 billion) mark for the first time.
The asset class, which includes infrastructure, beat its benchmark by more than 2%, contributing to an overall return of 12.5% for the year. The $226bn pension’s private equity portfolio returned 21.5%.
CIC is to open an office in Toronto according to a report by CNBC. The office is only the second to be opened by the $300 billion sovereign wealth fund outside of Greater China since its inception in 2007.
Corridor Energy will focus on US energy infrastructure that can be classified as real estate investment trusts.
Christoph Schumacher has left the firm after six years as the head of indirect investments of the insurance group’s asset management arm. He will now serve as managing director of real estate funds for a large German banking group.
Pying-Huan Wang has been hired to head infrastructure investments at Swiss-Asia Financial Services, which is preparing to launch its debut infrastructure vehicle, the China District Energy Fund. Wang was previously the head the private equity group at Deutsche Bank.
Carlyle has already recouped its investment in China Pacific through an $860m partial exit from the Chinese insurer and is on track for a 6x return.
Australia’s A$69bn Future Fund has continued to grow its real estate exposure, reporting increased assets of 1.2 percent to A$3.4 billion from the six months to 30 September. According to the fund’s annual report released today further increases to real estate and other “tangibles” are planned.
The $218bn pension won a $50m fee cut from the real estate fund manager. CIM manages $200m of infrastructure commitments on behalf of CalPERS.
The pension disclosed that it has screened 77 investment proposals in 2010 for its infrastructure portfolio, the most of any year since it created its inflation-linked investment programme in 2007. But only two proposals converted to a due diligence review.