Barry Sternlicht’s Starwood Capital Group was the biggest riser in the 2010 PERE 30 ranking. Two fund closings totalling almost $2.8bn saw the private equity real estate firm launch itself from 30th place to 13th place.
2 min read · 24 January 2013
LPs speaking at a conference, including the CIO of CalPERS and the CEO for Guggenheim Partners Asset Management, noted obstacles they have faced including high fees and discerning what is 'simply leveraged beta'.
3 min read · 24 January 2013
Richard Cohen has joined the New York-based firm as managing director to help the real estate investment firm raise capital from US investors.
2 min read · 24 January 2013
The pension’s CIO Joseph Dear said LPs that can 'stick together' in the face of GP opposition will be able to win more LP-friendly terms.
2 min read · 24 January 2013
In this fourth annual ranking of the world’s largest private equity firms you will find many familiar names and placements but also some notable shuffling in the ranks, reflective of a dramatically changed fundraising market as well as the rise of specialist and emerging markets strategies.
10 min read · 24 January 2013
An online petition urging the pension giant to unload real estate holdings in the state has surfaced – an initiative designed to oppose a new immigration bill signed into Arizona law on Friday.
2 min read · 24 January 2013
CalPERS this week succumbed to public pressure by banning investments with managers who target rent-controlled properties for conversion to market rates. Such deals have burned the pension politically and, in the case of Stuy Town, financially.
3 min read · 24 January 2013
In a letter to its LP base, Apollo characterised an agreement to reduce CalPERS’ fees by $125 million over five years as an “enhancement” of its relationship with the pension, and said that it plans to accommodate a trend toward separate accounts.
2 min read · 24 January 2013
The $132bn California State Teachers' Retirement System named Diloshini Seneviratne, a senior investment officer on its private equity team, as its first portfolio manager for infrastructure.
3 min read · 24 January 2013
The firm and the pension have forged a ‘strategic relationship' in which fees will decrease on existing and new investments Apollo manages solely on behalf of the California pension.
2 min read · 24 January 2013
