CBRE Global Investment Partners (GIP) announces a significant milestone for its flagship global open-end fund, Global Alpha, which exceeded $1.2 billion of total equity commitments in December 2014.
Global Alpha was launched in November 2010 and seeks to provide a total return of 9-11 percent per annum by targeting investments with best-in-class local operating partners in the Americas, Europe and Asia Pacific, utilising CBRE’s unique global real estate network and market intelligence.
Ivo de Wit, Fund Manager, commented on the achievement: “We are very pleased with reaching the $1 billion milestone and with the continuing strong performance of the Fund. Global Alpha has outperformed the IPD Global Fund Index by 200bps per annum from inception through the third quarter of 2014, which has been driven by a combination of top down allocation to outperforming markets and successful local execution by GIP’s regional investment teams and operating partners.”
Significant investments in 2014 included a secondary investment in a vehicle which owns Tour Adria in La Defense, a newly-formed programmatic joint venture focused on mezzanine loans in Germany and a programmatic joint venture which has acquired offices in Dublin.
Jeremy Plummer, CEO of GIP, said: “The Global Alpha Fund is an attractive solution for investors looking for immediate exposure to a globally diversified portfolio with a strong track record, without a J-Curve and a dividend yield of 4.5 percent p.a. The Fund continues to attract a diverse range of institutional investors from all regions of the world.”