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June 27, 2024

Google, CME Group Will Build Illinois Facility To Support Trading On Google Cloud

CME Group and Google Cloud are partnering up to build a new cloud-based network and facilities in the Chicago suburbs that will allow the exchange operator to shift its futures and options trading into the cloud.

Google, CME Group Will Build Illinois Facility To Support Trading On Google Cloud

The two companies will construct cloud and colocation facilities, space they rent to clients for their own information technology equipment, adjacent to CME’s existing data center in Aurora, Illinois, about 40 miles outside Chicago, Bloomberg reports.Construction will kick off later in 2024, and the transition to the new network will happen…

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Illinois Provides Funding For State’s First Black-Led Data Center Project

The Chicagoland data center market has surged with new development in recent years, but Illinois leaders say no new projects in the state have been built by a Black developer. 

That could soon change with a five-story project on Chicago's West Side from Metro Edge Development Partners CEO Craig Huffman. The developer secured $3.4M in state funding for the project and plans to break ground by early next year, state Sen. Lakesia Collins announced Tuesday.

Illinois Provides Funding For State’s First Black-Led Data Center Project

Collins also introduced a bill to help minority business owners develop data centers and create jobs in underserved areas, she said in a release. “With this grant funding we can keep Illinois technology data within our state, instead of sending it off to another state or another country, and gain millions…

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RealPage To Lay Off 4% Of Its Workforce As It Fends Off Price-Fixing Allegations

RealPage To Lay Off 4% Of Its Workforce As It Fends Off Price-Fixing Allegations  

Real estate technology company RealPage is laying off approximately 4% of its employees, a company executive confirmed Thursday morning.

The cuts come as the company fends off a massive  class-action lawsuit, though a spokesperson attributed the cuts to its plan to boost growth. The company said it employed "more than 6,500 people in the United States, the United Kingdom, India, Spain" and elsewhere in a LinkedIn…

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After A Decade Of Dominance, Sovereign Wealth Funds Are Forced To Evolve

After A Decade Of Dominance, Sovereign Wealth Funds Are Forced To Evolve  

Flush with cash and carrying little baggage from existing portfolios, sovereign wealth funds have dominated in the years following the Lehman Brothers crash, striking the biggest deals and reaping stellar returns from real estate. 

But the higher-for-longer interest rate environment has ushered in a period of soul-searching for these big beasts and their feelings about real estate. As a whole, sovereign wealth funds are allocating less to the sector. And many are shaking up their real estate divisions to ensure that big 2023 losses are not repeated. 

Even those sticking with the sector are mixing up their strategies, moving into new sectors or becoming lenders as well as investors to cut risk. 

“There are pressures on allocations, and on the whole, they’re coming down with more frequency than they’re going up,” Oxford Properties Chief Investment Officer Chad Remis told Bisnow. Sovereign wealth funds, those owned by governments or regional superannuation funds like those of Canada or Australia, are expecting to…

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