The $129.4bn (EUR150bn) Dutch pension fund, ABP, and $290bn US pension fund TIAA-CREF are among eight investors investing in a real estate technology incubator.
Constellation Real Technologies received a total of $25.6m in a second round of equity funding from ABP, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), and six other investors. Total investment in Constellation now stands at $150m.
Previous Constellation investors include JP Morgan Partners and Morgan Stanley.
Constellation has also appointed Glen Barnard as its new chief executive officer. Barnard joins from e.KB, a division of KB Home, the US real estate company. He will be based in Constellation’s new offices in Denver.
By Geoffrey Ho
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.