{"id":20130,"date":"2020-11-04T15:30:08","date_gmt":"2020-11-04T20:30:08","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/bci-and-partners-real-estate-fund-completes-805m-closing-psp-invests-in-reinsurance-firm-152022"},"modified":"2020-11-04T15:30:08","modified_gmt":"2020-11-04T20:30:08","slug":"bci-and-partners-real-estate-fund-in-805m-closing-psp-in-insurance-linked-strategy","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/11\/04\/bci-and-partners-real-estate-fund-in-805m-closing-psp-in-insurance-linked-strategy\/","title":{"rendered":"BCI and partners\u2019 real estate fund in $805M closing, PSP in insurance-linked strategy"},"content":{"rendered":"
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Staff<\/span> | November 4, 2020 <\/p>\n

A real estate fund created<\/a> by the British Columbia Investment Management Corp., QuadReal Property Group and RBC Global Asset Management Inc. is receiving $805 million in equity commitments from Canadian institutional and individual investors.<\/p>\n

The second round, which closed on Oct. 30, 2020, exceeded subscription targets and comes on the heels of the initial closing of $1.25 billion completed on Oct. 31, 2019. The total assets under management for the fund now sits at just over $2 billion. <\/p>\n

Read: BCI and partners creating Canadian real estate fund<\/a><\/strong><\/p>\n

\u201cWe experienced exceptional interest from investors who recognize the long-term benefit of adding private market assets such as commercial real estate to their investment portfolio,\u201d said Michael Kitt, head of private markets and real estate equity investments at RBC Global Asset Management, in the release.<\/p>\n

\u201cWe view the fund as a potential stabilizing component for portfolios that can provide investors with consistent yield. Exceeding our subscription target against a backdrop of pandemic-related uncertainty demonstrates the confidence investors have in both the fund and its alignment with the deep and experienced team at BCI and QuadReal.\u201d<\/p>\n

In other investment news, the Public Sector Pension Investment Board is providing Integral ILS Ltd. with significant limited-partnership commitments to launch a new dedicated strategy focused predominantly on natural catastrophe-linked reinsurance and insurance transactions.<\/p>\n

Integral is a new Bermuda-based independent alternative fund manager focused on insurance-linked strategies.<\/p>\n

Read: PSP Investments acquiring Copenhagen real estate<\/a><\/strong><\/p>\n

\u201cThe Integral mandate represents PSP Investments\u2019 first ILS allocation as part of our alternative risk premium strategy,\u201d said Eduard van Gelderen, senior vice-president and chief investment officer of the PSP. \u201cILS is an attractive asset class given its low correlation and diversification benefits for our portfolio. We are excited to enter into a long-term partnership with such an experienced and well-regarded team in the space.\u201d<\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Staff | November 4, 2020 A real estate fund created by the British Columbia Investment Management Corp., QuadReal Property Group and RBC Global Asset Management Inc. is receiving $805 million in equity commitments from Canadian institutional and individual...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20130"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20130"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20130\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}