Losses of 19.5% in public markets and 13.7% percent in private equity were partially offset by gains of a 6% gain in real estate. The Canadian pension plan, one of the country’s largest, is now valued at C$44bn, versus C$52bn at the end of last year.
2 min read · 21 January 2013
British pension funds diversified their portfolios by investing 40% more in private equity and 30% more in hedge funds in 2008 over the previous year. Real estate fared less well, however, with mandates dropping by 25%.
2 min read · 21 January 2013
The Municipal and Infrastructure Assurance Corporation, capitalised by Macquarie at $75m as of September 2008, will be able to obtain its licenses to provide bond insurance in all US states and territories more quickly as part of a pilot licensing program.
2 min read · 21 January 2013
The debt-laden REIT says it is examining its future, including potential bankruptcy protection, as it struggles to refinance billions of debt in a stalled refinancing market. The REIT is reportedly in default on loans secured by two malls in Las Vegas, including the Fashion Show Mall.
2 min read · 21 January 2013
A management group from Lehman Brothers Venture Partners will spin-out to become Tenaya Capital. The firm will have $750m in capital and 45 portfolio companies and retain all the third-party limited partners from Lehman’s venture funds. A decision on Lehman's real estate operations is expected in the next month.
2 min read · 21 January 2013
The London-based activist investor Laxey Partners is trying to oust three directors and install an independent chairman in a bid to force changes at Hirco, which develops real estate in the country.
1 min read · 21 January 2013
Réal Desrochers has ended his 11-year reign as the director of alternative investments at the US' second largest public pension, leaving veteran portfolio managers Margot Wirth and Seth Hall as interim co-directors. Desrochers did not disclose future professional plans in a farewell email sent to friends and colleagues.
4 min read · 21 January 2013
Wilfred Wong will formulate and manage the Singaporean group's business strategies in China and Macau. Wong is also a delegate of the National People’s Congress of China and deputy vice chairman of golf course developer Mission Hills Group.
2 min read · 21 January 2013
Station Casinos’ proposed debt restructuring has met with anger from some bondholders. A lawsuit alleges the plan is 'ungentlemanly', favouring a limited number of senior note holders. Station said the lawsuit was 'without merit'.
2 min read · 21 January 2013
Cerberus, HgCapital, Apollo and Gold Hill are among the GPs to see agreed commitments evaporate as the Pennsylvania Public School Employees' Retirement System retrenches.
2 min read · 21 January 2013
