Summary of Transaction Headlines

IPE Real Assets | “KKR, Gulf Data Hub to Invest $5 Billion in Data Center Capacity”

Investment firm KKR has entered the data center market in the Middle East by acquiring a stake in Gulf Data Hub (GDH). Funds managed by KKR’s global infrastructure strategy have agreed to acquire the unspecified stake in data center platform GDH, in a deal that involves both parties committing more than $5 Billion to scale up the business across the Gulf.

IPE Real Assets | “South Korea’s NPS and Almanac Team Up for $800 Million Real Estate Push”

South Korea’s National Pension Service (NPS) is partnering with Almanac Realty Investors to invest $800 Million in global real estate platforms and investment managers. The partnership involves NPS anchoring Almanac’s growth capital strategy for real estate operating companies and committing to an existing Almanac strategy dedicated to acquiring minority equity stakes in institutional real estate investment managers. NPS will also gain access to a dedicated investment vehicle advised by Almanac for platform and general partner stake opportunities sourced by NPS itself.

IPE Real Assets | “TPG Real Estate Takes Half of M&G’s UK Multi-let Industrial Portfolio for $900 Million”

TPG Real Estate has acquired half of M&G Real Estate‘s 6 Million Sq. Ft. UK multi-let industrial portfolio, forming a joint venture to manage and expand it. TPG is buying 50% of M&G’s Active Growth Logistics Partnership (AGLP) to create the $900 Million joint venture that will drive further value across the platform, including a planned £53 Million ($65 Million USD) capital expenditure program to strengthen asset quality and sustainability. 

Bisnow | “CPP Backs $800 Million Joint Venture to Buy Industrial Properties”

Chicago-based Bridge Industrial has landed a large institutional partner to help fund its next wave of warehouse investments. The Toronto-based Canada Pension Plan Investment Board and Bridge have formed a $789 Million joint venture to purchase industrial properties, with CPP holding a 95% stake and privately owned Bridge chipping in the remaining 5% share of the equity.

IPE Real Assets | “OMERS Infrastructure Names Gray Head of Americas”

Peter Gray has been appointed to the role of Senior MD and Head of Americas. Gray will report to Michael Hill, the Global Head of Infrastructure, and join the Global Infrastructure Management Committee. Gray has been a part of the OMERS Infrastructure business since 2014. Prior to OMERS, Gray worked at Allstate Investments in Chicago and in the investment banking divisions of HSBC and Bank of America Merrill Lynch.

IREI | “CIO of Maryland SRPS Announces Retirement at End of June”

Andrew Palmer, Chief Investment Officer (CIO) of the Maryland State Retirement Pension System (SRPS), announced his retirement on
Jan. 22, 2025. Serving as CIO since 2015, Palmer plans to step down on June 30, 2025. SRPS plans to conduct a global search for a prospective CIO. When Palmer began at SRPS, its assets under management were valued at $46 Billion.

IREI | “Comunidad Partners Names Ty Barnes New Head of Investments”

Comunidad Partners has named Ty Barnes as its new Head of Investments. Within his new role, Barnes will leverage his strong relationships with property owners and brokers to lead the firm’s acquisition, capital market, and portfolio management strategies. Barnes most recently held senior roles with Tishman Speyer, Taconic Partners, Related, and WinnResidential.

IREI | “Jenny Buck Named CIO at London CIV”

London CIV, the U.K. Local Government Pension Scheme pool, has appointed Jenny Buck as the incoming Chief Investment Officer (CIO). Buck’s predecessor, Aoifinn Devitt, announced her departure in July 2024. Buck will begin as CIO in the beginning of March 2025. In her previous position at Tesco Pension Investment, she managed £25 Billion ($30.8 Billion USD) in assets.

IREI | “Tuba Malinowski Promoted to Executive Managing Director and Head of Stockbridge CVA”

Tuba Malinowski has been promoted to Executive Managing Director and Head of Stockbridge Core and Value Advisers (CVA). Malinowski will lead the day-to-day management of CVA’s overall business and strategy, in addition to continuing her role on the broader firm’s Investment and Executive Committees. Previously, she served as the first Portfolio Manager of the firm’s evergreen ODCE fund and led various initiatives as Chief Operating Officer, notably opening the Atlanta office in 2010 and launching the ODCE fund in 2011.

Yahoo Finance | “M&G Investments Names New CFO”

Investment manager M&G has hired Marcello Arona to serve as the new Chief Financial Officer (CFO) of its asset management division, M&G Investments. Arona, with substantial experience in asset management, moves to M&G Investments from AXA. In the new role, he will oversee the Global Financial Operations of M&G Investments and implement its financial strategy.

Housing Today | “Keepmoat Appoints New Chief Financial Officer”

Housebuilder Keepmoat has appointed Mark Dilley as Chief Financial Officer. Keepmoat, which ranked 12th in Housing Today’s Top 50 Housebuilders 2024 with turnover of £864 Million ($1 Billion USD), has appointed Mark Dilley as Chief Financial Officer. Dilley’s career of more than three decades includes stints as Chief Financial Officer at Tilia Homes and Group Finance Director at Town Centre Securities.

PERE | “GIC Names New Head of Americas Real Estate”

GIC is said to have appointed Cai Wenzheng to Head of Real Estate in the Americas. Cai, who has been with the sovereign fund for more than 16 years, currently serves as Head of Real Estate Global Investments and Portfolio Strategy and would be replacing Adam Gallistel, who will take on a new role as Co-CEO for CBRE Investment Management from 1 April. GIC has yet to comment on the report of Cai’s new role.

IREI | “Manulife Investment Management Welcomes Ryan Hanna as Global Chief Operating Officer of Private Markets”

Manulife Investment Management (Manulife IM), a Manulife Wealth & Asset Management company, has appointed Ryan Hanna as Global COO of private markets. Hanna brings nearly two decades of experience to this role, where he will be focused on scaling Manulife IM’s private markets business to deliver more for its clients across the globe.

PR Newswire | “Pennrose Names Timothy Henkel as Chief Executive Officer; Announces Strategic Leadership Appointments”

Pennrose, a national leader in the development and management of high-quality mixed-income and mixed-use housing, has announced several strategic leadership changes as part of a multi-year succession plan. Former President Timothy Henkel will lead the organization as Chief Executive Officer. Charlie Adams, past regional Vice President of New England, has been named President. As part of the succession plan, Executive Chairman of the Board Richard K. Barnhart and former Chief Executive Officer Mark H. Dambly have transitioned from day-to-day responsibilities with the organization to active members of the Pennrose Board.