Troubled Japanese private equity real estate giant daVinci Holdings has ceded control of its platform to Fortress Investment Group, after the New York-based alternative investment firm bought $230m of its corporate debt. The deal brings the reign of founder Osamu Kaneko as president to an end, Nikkei reported.
2 min read · 24 January 2013
Sundaram Rajagopal has been appointed managing director in charge of the firm’s acquisitions and asset management in India, after four years at Lehman Brothers.
2 min read · 24 January 2013
AXA Real Estate Investment Managers has garnered commitments from four LPs for its third pan-European development fund, which is targeting €600m.
2 min read · 24 January 2013
In the latest sign that the investment banking sector is withdrawing from managing private equity real estate funds, Bank of America Merrill Lynch has agreed a deal to hand over the management of the assets in its $2.65 billion Asian Real Estate Opportunities Fund and other real estate assets to The Blackstone Group.
2 min read · 24 January 2013
The Greenwich, Connecticut-based firm has raised in excess of $200m for its Forum Asia Realty Income III fund. The vehicle, launched last autumn, is expected to complete its first investment by September.
1 min read · 24 January 2013
The Amsterdam-based fund of funds has appointed Morag Beers, previously TCN international portfolio strategist; Maarten Vermeulen, a former Protego director, and Lionel Low, formerly with ARA Managers.
2 min read · 24 January 2013
As the founder of Colony Capital eyes a potential investment in Hollywood film studio Miramax, he warns about the “disappoint” of real estate as an asset class. Instead, Barrack is looking to the arts for investment opportunities.
3 min read · 24 January 2013
The bankrupt mall REIT expects to exit Chapter 11 in October after agreeing a $8.55bn recapitalisation plan with Brookfield, Pershing Square and Fairholme Capital – and an additional $500m from Texas TRS.
3 min read · 24 January 2013
Two of Eaton Partners’ former European fundraisers have set up London-based placement agent Threadmark.
2 min read · 24 January 2013
The fallout from Apollo’s purchase of Citi Property Investors continues as head of Asia Ravi Hansoty hands in his notice. Hansoty is expected to launch his own platform once the takeover is completed.
1 min read · 24 January 2013
