Textron Pension holds 80% of real estate directly across 20 apartment buildings
Charles Van Vleet · Charles Van Vleet – Thinking Differently with Pensions at Textron (Capital Allocators, EP. 283) · Nov 28, 2022 · at 32:33
Charles Van Vleet, CIO at Textron, explains Textron's direct real estate implementation strategy to Ted Seides.
0:00 / 0:10exact quote · 10.7s
720p mp4 · rendered on demand · StarZero watermark
“Mostly direct. We're 80% direct. So we own a portfolio of 20 garden style apartment buildings and data centers and a lot of industrial warehouse and cold storage.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Charles Van Vleet
Van Vleet: Institutional Allocators Cannot Afford to Avoid China
“I think you can't afford not to be in China.”
Full-Fee LPs Subsidize Large Institutional Investors Taking Free Co-Investments
“Because of that, I'm not real thrilled when our GPs will raise five hundred million and then raise five hundred million worth of opportunity for direct co-invest. And my pushback on that is, well, so I'm really just subsidizing the other guy who's taking the c…”
Wall Street Repackaged Basic Governance As ESG To Charge 40 Basis Points
“I'll tell you how it happens because we have a lot of Wall Street firms who have a conflict of interest. They can wrap it into this new bottle and slap on another 40 base points of fees for it.”
UK Pension Rules Mandating Consultants And Beneficiaries Fueled The LDI Meltdown
“The UK were required to have a consultant, and were required to have participant beneficiaries on the committee, which are two problems that also led to this little fiasco in the UK around their LBI programs. You have too many amateurs in the room, and so you …”
Leveraged Derivatives Used For Growth Targets Caused The UK Pension Crisis
“The other common way, as we've experienced in the UK, where the UK, of course, has gone through a meltdown because they were using derivatives. They were leveraging. So they were only using 50% of their assets levered To be hedged, and the other 50% still rema…”