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TORONTO, March 15, 2017 /CNW/ - CI Institutional Asset
Management, a division of CI Investments Inc. ("CI"), today
announced the launch of a global real estate fund in association
with CBRE Global Investment Partners, a division of one of the
world's pre-eminent real estate services and investment companies.
Through the new CI Global Private Real Estate Fund, high net worth
investors and smaller Canadian institutions can now gain exposure
to CBRE Global Investment Partners Global Alpha Fund, an open-ended
fund with direct investments in over 1,900 properties in
North America, Europe and the Asia-Pacific region.
"Investing in a global portfolio of private real estate offers
many benefits, including attractive returns, diversification, low
or negative correlation to stock and bond markets, a potential
inflation hedge, and stable income," said Neal Kerr, President of CI Institutional Asset
Management (CIIAM), which provides investment solutions to
institutions, family offices and higher net worth clients.
"Through CI Global Private Real Estate Fund, we are pleased to
offer Canadian investors access to the expertise of a leading
global real estate firm and exposure to an investment strategy that
has posted exceptional risk-adjusted returns since its
inception."
Ian Gleeson, CIO of CBRE Global
Investment Partners, added: "We are very pleased to be teaming with
such a like-minded, well-regarded firm as CI Institutional Asset
Management in this initiative. Through this relationship, we are
able to deliver accessibility to a unique global real estate
portfolio that normally only sovereign wealth funds could
access."
CI Global Private Real Estate Fund is a Canadian-based trust
that will invest indirectly in units of CBRE Global Investment
Partners Global Alpha Fund ("Global Alpha Fund"), which has
investments in over 1,900 office, retail, logistical and
residential properties in more than 20 countries representing a
combined net asset value of US$2
billion. Global Alpha Fund has an objective to deliver
stable dividend income of 4-5% per annum and a net total return of
9-11% per annum (in local currency) over a market cycle.
Global Alpha Fund is managed by CBRE Global Investment Partners
("CBRE GIP"), which employs 78 professionals in offices in
London, Amsterdam, Boston, New
York and Singapore and has
over $15 billion in assets under
management.* CBRE GIP is a division of CBRE Global Investors, a
global real estate investment management firm that benefits from
its affiliation with CBRE Group, Inc., a full-service commercial
real estate services and investment company with 70,000 employees
in more than 400 offices worldwide.
The Global Alpha Fund portfolio is actively managed, using CBRE
GIP's industry experience, strong research capabilities and global
information network to seek the best investment opportunities by
sector and geographic region. The team follows a value-oriented
approach with a focus on relatively high income yields and
predictable cash flows. In making investments, CBRE GIP partners
with specialist local operators.
CI Global Private Real Estate Fund, which is offered on an
exempt basis, is now available to permitted clients with a minimum
investment of US$2 million (Class I
units) and to accredited investors with a minimum investment of
US$150,000 (Class F units) through
registered dealers.
"We have structured the fund so that it's accessible to both
individual high net worth investors and smaller Canadian
institutions, allowing them to avoid the hurdles of investing in
offshore vehicles," Mr. Kerr said. "To further broaden the fund's
appeal, we have built in features designed to enhance the liquidity
of the units, given that private real estate holdings are by nature
a less liquid investment."
About CI Investments – Canada's Investment Company
CI Investments Inc. is one of Canada's largest investment management
companies. CI offers a broad range of investment products and
services and is a subsidiary of CI Financial Corp. (TSX: CIX), an
independent, Canadian-owned wealth management firm with total
assets of $159.5 billion as of
February 28, 2017.
About CBRE Global Investment Partners Limited
CBRE Global Investment Partners Limited ("CBRE Global Investment
Partners") is the division of CBRE Global Investors that delivers
investment solutions customized for clients' individual objectives
by constructing portfolios using private funds, secondaries,
co-investments and joint ventures, partnering with leading
operators and fund managers for each strategy. Investments cover
the risk spectrum from core to enhanced, can be global or regional
in nature, and use a variety of investment vehicles based on
clients' preferences. GIP has US$15.2
billion in assets under management* as of September 30, 2016. CBRE Global Investment
Partners' AUM includes investments in programs managed by the
direct side of CBRE Global Investors. CBRE Global Investment
Partners Limited is authorized and regulated in the United Kingdom by the Financial Conduct
Authority (FCA).
About CBRE Global Investors
CBRE Global Investors is a global real estate investment
management firm with US$86.6 billion
in assets under management* as of December
31, 2016. The firm sponsors investment programs across the
risk/return spectrum for investors worldwide. CBRE Global Investors
is an independently operated affiliate of CBRE Group, Inc. (NYSE:
CBG). It harnesses the research, investment sourcing and other
resources of the world's premier, full-service commercial real
estate services and investment company for the benefit of its
investors. CBRE Group, Inc. has more than 70,000 employees in more
than 400 offices (excluding affiliates) worldwide. For more
information about CBRE Global Investors, please visit
www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair
market value of real estate-related assets with respect to which
CBRE Global Investors provides, on a global basis, oversight,
investment management services and other advice, and which
generally consist of investments in real estate; equity in funds
and joint ventures; securities portfolios; operating companies and
real estate-related loans. This AUM is intended principally to
reflect the extent of CBRE Global Investors' presence in the global
real estate market, and its calculation of AUM may differ from the
calculations of other asset managers.
This press release contains forward-looking statements with
respect to CI and its products and services. Although management
believes that the expectations reflected in such forward-looking
statements are reasonable, such statements involve risks and
uncertainties. Actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially from
expectations include, among other things, general economic and
market factors, including interest rates, business competition,
changes in government regulations or in tax laws, and other factors
discussed in materials filed with applicable securities regulatory
authorities from time to time. This press release shall not
constitute an offer to sell, nor the solicitation of an offer to
buy, securities in any jurisdiction.
SOURCE CI Financial Corp.