DJIA51443.11 -385.51
S&P 5007704.30 -39.11
NASDAQ26799.05 -269.67
Russell 20002809.75 -27.81
German DAX25407.11 -1.53
FTSE 10010687.24 -8.01
CAC 408078.48 0.68
EuroStoxx 506309.35 11.20
Nikkei 22565877.62 -486.58
Hang Seng24642.51 132.42
Shanghai Comp3823.62 -64.75
KOSPI6889.74 -191.18
Bloomberg Comm IDX143.16 -1.16
WTI Crude-fut99.93 2.46
Brent Crude-fut95.08 2.64
Natural Gas3.12 -0.13
Gasoline-fut3.21 0.01
Gold-fut4156.20 -164.30
Silver-fut61.48 -3.23
Platinum-fut1733.30 -67.50
Palladium-fut1219.00 -58.50
Copper-fut6.62 -0.16
Aluminum-spot3195.00 0.00
Coffee-fut288.65 10.55
Soybeans-fut1288.75 -31.25
Wheat-fut689.75 -14.25
Bitcoin83225.58 -891.94
Ethereum USD2675.67 -17.61
Litecoin69.96 -3.21
Dogecoin0.09 0.00
EUR/USD1.1402 0.0033
USD/JPY157.37 -1.46
GBP/USD1.3254 0.0029
USD/CHF0.8291 0.0010
USD IDX101.18 0.15
US 10-Yr TR5.255 0.074
GER 10-Yr TR3.6282 -0.016
UK 10-Yr TR5.4061 -0.0197
JAP 10-Yr TR3.116 0.028
Fed Funds4 0
SOFR3.9 0.02
Connect News Money news for every market and every facet, every day.
Connect Money Events Live and virtual events bringing together the best of information and networking.
Financial Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Awards View the A-list of money & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for clear, concise news of maximum importance to the financial services industry.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Topics

Alternative Assets  + Real Estate  |  September 7, 2023
Bain, Brookfield Pick Up $80M from Houston Police Pension for Real Estate Funds
Joe Palmisano
By: Joe Palmisano

Bain, Brookfield Pick Up $80M from Houston Police Pension for Real Estate Funds

Bain Capital and Brookfield Asset Management each received a $40 million allocation from the $7.1 billion Houston Police Officers Pension System (HPOPS) for their respective funds, Bain Capital Real Estate Fund III and Brookfield Strategic Real Estate Partners (BSREP) V.

Bain Capital Real Estate Fund III, which is aiming for a $3.75 billion raise, will invest largely in North American markets, with a 25% cap on investments beyond North America.

With a value-add approach, the fund will invest opportunistically in self-storage, life sciences office/lab space, medical office, senior housing, last-mile industrial, affordable housing, and media/content production space.

BSREP V will invest opportunistically in a wide range of global sectors. The fund’s goal is to raise $15 billion.

Houston Police Officers had 10.5% of their fund invested in real estate as of December 2022, compared to a target allocation of 10%.

Connect

Inside The Story

Bain CapitalHouston Police Officers Pension SystemBrookfield Asset Management

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
Order Reprints