ING Real Estate Select has announced that the London Pensions Fund Authority (LPFA) is putting up £150mln (EUR 191mln) as the seed investor in the global multi-manager's Orisis Property fund. ING Real Estate Select, the multi-manager business of ING Real Estate, said that Global Oisiris is one of the first open-ended, core balanced, global fund of funds to come to the market.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
