Leon Shahinian, the 12-year pension veteran described as ‘honest’, has been placed on leave amid a burgeoning pension scandal in California.
4 min read · 24 January 2013
The US REIT has withdrawn its acquisition and recapitalisation proposals for bankrupt mall REIT General Growth Properties, alleging the firm ‘hastily’ decided to transfer hundreds of millions of dollars of value to the Brookfield-led consortium plan.
2 min read · 24 January 2013
Townsend this week threw down the gauntlet to fund of funds managers by hiring ex-ING multi-manager head Nick Cooper, raising concerns among fund of funds managers about losing business.
3 min read · 24 January 2013
Jeff Giller and Brendan MacDonald have formed the San Francisco-based firm with the backing of Goldman Sachs’ private equity group. It will focus on fund, asset and investor recapitalisations.
2 min read · 24 January 2013
The $138bn pension has joined its neighbour CalPERS in supporting legislation that would prevent the two funds from investing with real estate managers who try to convert rent-controlled apartments. CalSTRS staff will also consider possible penalties for GPs who abuse the ban.
2 min read · 24 January 2013
Ping An Insurance has received regulatory approval to purchase TPG’s 17% stake in Shenzhen Development Bank. The acquisition will be paid in Ping An shares and looks set to make TPG at least an 8x return on its initial investment.
2 min read · 24 January 2013
Brookfield chief executive officer Bruce Flatt called the cost of warrants his firm would receive from bankrupt REIT General Growth ‘irrelevant’ and ‘meaningless.’ GGP will reportedly decide Thursday whether to postpone a key bankruptcy hearing to debate the offers after Simon submitted a new bid.
2 min read · 24 January 2013
The Austrian private equity real estate fund manager has acquired the IZD Tower in Vienna, Austria for €212m in a joint venture with an unidentified German insurance group.
2 min read · 24 January 2013
Mount Kellett Capital Management, the global private equity firm started by Mark “Goldfinger” McGoldrick in 2008 has hired real estate executive James MacNamara in London.
2 min read · 24 January 2013
Responding to administrative burdens, the State of Wisconsin Investment Board is seeking a consultant to help the pension monitor its sprawling private equity portfolio.
2 min read · 24 January 2013
