CIC Seeks Harvard’s U.S. Real-Estate Portfolio

• China’s $300 billion sovereign-wealth fund is in advanced talks with Harvard University’s endowment to buy its stakes in half a dozen U.S.-focused real-estate funds for about $500 million.
• Harvard has tapped bankers at Morgan Stanley and Credit Suisse Group to try to sell its partnership interests in a number of real-estate funds
• Some of the largest real-estate commitments Harvard has made are with fund managers, including Lubert-Adler, Beacon Capital Partners and Westbrook Partners.
• Other foreign investors also are looking to take advantage of low values in U.S. real estate. For instance, a group of investors, including Korean Federation of Community Credit Cooperatives, paid $333 million for a 655,398-square-foot, fully leased office building at 333 Market St. in San Francisco.

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