Finnish state pension fund VER is planning to increase its exposure to real estate and private equity funds to as much as 10%, the fund's managing director Timo Loyttyniemi told IPE real estate. The EUR 10.3 bn fund increased its alternative exposure from 1.3% to 4.1% last year, and ploughed some EUR 165 mln in eight real estate funds.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
