Standard & Poor’s has downgraded the credit ratings of Middle Eastern banks Investcorp and Arcapita due to concerns over high leverage, a strain on liquidity and an expected fall in the value of the firms' private equity and real estate investments.
2 min read · 21 January 2013
The investment will shore up Straits Resources’ balance sheet and assist in the potential disposal of its coal assets.
2 min read · 21 January 2013
The tenth largest pension fund in the US has reported a 5.6% fall in returns for real estate in 2008, but the sector still outperformed other asset classes.
1 min read · 21 January 2013
The $1.5bn pension, concerned that GPs were not ‘realistic’ during the boom period, will also delay an initial allocation to the private equity asset class.
2 min read · 21 January 2013
Proposals to create a ‘bad bank’ to soak up the toxic assets clogging the US financial markets have been welcomed by real estate professionals. However, veterans of the RTC warn against simply ‘moving pieces round the board’.
2 min read · 21 January 2013
Credit, or the lack of credit, is on everyone’s minds. For some real estate investors it is presenting an ideal opportunity to provide financing where financing is badly needed.
2 min read · 21 January 2013
3i veteran Cressida Hogg has replaced Michael Queen, who took over as 3i's CEO from Philip Yea earlier this week. 3i's infrastructure arm also said it sold a 31% stake in its Infrastructure Investor fund to Barclays for £164m.
2 min read · 21 January 2013
Gordon Keiser, chief executive of ProLogis European Properties, is retiring. He took up the post only last year. Since then, the company has had to reduce its development programme and reduce headcount as a result of restructuring and a need to reduce debt.
1 min read · 21 January 2013
The online news service of PERE magazine celebrated the registration of its 10,000th user today – a US-based real estate acquisitions professional – by awarding a free pass to the upcoming PERE Forum in Hong Kong.
1 min read · 21 January 2013
The Fides Real Estate Direct Lending and Distressed Opportunity Fund will launch next month in search of up to $300m. The fund is led by Hagop Sargisian and Jose Quesada.
1 min read · 21 January 2013
