Published in November 2007 by PEI Media Ltd Second Floor ...
Published in November 2007 by PEI Media Ltd Second Floor ...
Published in November 2007 by PEI Media Ltd Second Floor ...
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Banks / F<strong>in</strong>ancial Services.<br />
Future Bite Size<br />
Future Number of GPs to Invest with<br />
Approx. Future Capital to be Invested<br />
Approx. Number of Funds Commit to <strong>in</strong> Future<br />
INVESTMENT OPPORTUNITIES<br />
Directs<br />
<strong>Second</strong>ary Directs<br />
Debut / First Time Funds<br />
Co-<strong>in</strong>vestments<br />
•<br />
PRIVATE REAL ESTATE FUND COMMITMENTS INCLUDE:<br />
Fund Name Manager Size Year Fund Type Region(s) Sector(s) Commitment<br />
Aberdeen Indirect Property<br />
Partners (AIPP) Asia<br />
Aberdeen Property Investors USD 600 m <strong>2007</strong> Fund of<br />
Funds<br />
AP<br />
HBOS PLC (HALIFAX BANK OF SCOTLAND)<br />
HEAD OFFICE<br />
PO Box No. 5<br />
The Mound<br />
Ed<strong>in</strong>burgh EH1 1YZ<br />
United K<strong>in</strong>gdom<br />
Tel: +44 870 600 5000<br />
www.hbosplc.com<br />
ASSETS / FUNDS UNDER MANAGEMENT<br />
GBP 591 billion (as of 31 December 2006)<br />
ALLOCATION TO ALTERNATIVES<br />
ALLOCATION TO REAL ESTATE<br />
AMOUNT ALLOCATED TO REAL ESTATE<br />
ALLOCATION TO PRIVATE REAL ESTATE<br />
(As a percentage of real estate)<br />
YEAR FIRST INVESTED IN PRIVATE REAL ESTATE<br />
2002<br />
ADVISORS<br />
Invista Real Estate Investment Management<br />
BRANCHES<br />
Bank of Scotland<br />
New Uberior House<br />
11 Earl Grey Street<br />
Ed<strong>in</strong>burgh<br />
EH3 9BN<br />
United K<strong>in</strong>gdom<br />
Tel: +44 131 659 0560<br />
Fax: +44 131 659 0572<br />
CONTACTS<br />
Mr. Scott McIntosh<br />
Alternative Investment Contact<br />
Tel: +44 131 659 0448<br />
Ed<strong>in</strong>burgh, United K<strong>in</strong>gdom<br />
BACKGROUND<br />
HBOS is a diversified f<strong>in</strong>ancial services group provid<strong>in</strong>g retail, bus<strong>in</strong>ess and corporate bank<strong>in</strong>g, as well as <strong>in</strong>surance and <strong>in</strong>vestments through a stable of<br />
well-known brands such as Bank of Scotland, Halifax and Clerical Medical. The Group is the largest provider of mortgage and sav<strong>in</strong>gs <strong>in</strong> the UK and<br />
employs 72,000 people.<br />
HBOS actively <strong>in</strong>vests <strong>in</strong> alternative assets, namely private equity and real estate. Invista Real Estate Management, HBOS' property company, manages<br />
16 real estate funds focused on the UK and Cont<strong>in</strong>ental Europe, totall<strong>in</strong>g approximately £9.2 billion. 5 of these funds are managed on behalf of the<br />
Group. Invista launched 4 real estate funds, <strong>in</strong>clud<strong>in</strong>g the Invista European Real Estate Trust, <strong>in</strong> 2006.<br />
HBOS also <strong>in</strong>vests <strong>in</strong> unlisted real estate <strong>in</strong>vestment vehicles through Bank of Scotland. The latter has participated <strong>in</strong> 3 jo<strong>in</strong>t ventures with Warner<br />
Estate - Agora Shopp<strong>in</strong>g Centre Fund, Agora Max Shopp<strong>in</strong>g Centre Fund and Radial Distribution Fund. Bank of Scotland has also entered <strong>in</strong>to the Quart<br />
Limited Partnership with Hermes and Qu<strong>in</strong>ta<strong>in</strong> Estates, for <strong>in</strong>vestments <strong>in</strong> the retail sector.<br />
REAL ESTATE ALLOCATION BREAKDOWN<br />
Provides a breakdown of the <strong>in</strong>stitution's allocation to real estate, <strong>in</strong> terms of direct, public and private real estate <strong>in</strong>vestments.<br />
Direct Real Estate<br />
Public Real Estate<br />
Private Real Estate Funds<br />
Invests? %<br />
•<br />
•<br />
The Global Directory of Investors <strong>in</strong> Private Real Estate Funds – <strong>Second</strong> Edition<br />
182<br />
© <strong>2007</strong> <strong>PEI</strong> <strong>Media</strong> <strong>Ltd</strong>.
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