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Article Excerpt
Byline: Arleen Jacobius
U.S. institutional investors looked abroad for a greater share of their private equity and real estate investments during 2006, asset managers and consultants say.
Assets of private equity investors grew 63%, to $37.23 billion, with international accounting for 12%, or $4.44 billion, according to data from Pensions & Investments' annual survey of the largest money managers. That's double the percentage for year-end 2005, when the private equity managers reported 6% of their $22.85 billion total was invested internationally.
Assets of the largest 25 managers of U.S. institutional tax-exempt assets invested in real estate equity rose 29% to $275.86 billion. International real estate represented $21.5 billion, or 8% of the total, holding roughly steady from the year-earlier survey. Among all managers reporting for the survey, real estate equity rose 25% to $342.68 billion, with international investments also accounting for 8% of that at $27.88 billion.
Consultants and money managers concur that investment overseas is drawing...
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