Julio Ramirez, who left Blackstone-affiliated placement agent Park Hill in March, has reportedly pleaded guilty to securities fraud. The allegations stem from the time Ramirez was employed by Wetherly Capital, prior to joining Park Hill; Blackstone says its internal investigation revealed no misconduct at Park Hill.
2 min read · 21 January 2013
The embattled insurance group, AIG, has sold its central Tokyo headquarters for $1.2bn. The firm said the sale attracted ‘substantial interest’ from Japanese and overseas investors. The sale is part of the group's restructuring plans after the US government provided $180bn in support.
1 min read · 21 January 2013
The private equity real estate firm founded by Dan Neidich has raised $793.9m for its second vehicle, Dune Real Estate Fund II. The vehicle is targeting $1.25bn.
1 min read · 21 January 2013
The Ohio Public Employees Retirement System has hired former director of investments for the New Hampshire Retirement System, Richard Shafer, as deputy director of investments for external management. His role involves executing the pension fund’s private equity and real estate strategies.
1 min read · 21 January 2013
The Wisconsin State Investment Board has committed an additional $40m to two real estate funds to help them delever, including $10m to Fortress’ Fund III.
2 min read · 21 January 2013
SUN Apollo Ventures has invested more than $60 million by acquiring a stake in Mumbai-based developer, Keystone Realtors. The joint venture between AREA Property Partners and the Khemka family promoted SUN Group will also invest in the developer’s projects.
1 min read · 21 January 2013
A new complaint from the New York attorney general’s office details the allegedly corrupt economic bond between Aldus Equity’s Saul Meyer and political operative Hank Morris, whose relationship ultimately became strained to a point where both created vivid epithets for each other.
3 min read · 21 January 2013
Thomas DiNapoli, New York's comptroller in charge of the $122bn New York State Common Retirement Fund, seeks reimbursement of more than $5m in fees paid and other damages from the financial advisor Aldus. The Dallas-based firm is accused of taking part in a kick-back scandal involving the New York Common.
3 min read · 21 January 2013
The $20bn Connecticut state pension is the latest in a list of US pensions that have ended their relationship with Aldus Equity after the Dallas firm’s founder, Saul Meyer, was indicted for allegedly taking part in a kick-back scheme. Aldus’ lawyer yesterday rebuked the SEC as being ‘careless’ for naming the firm in a related complaint.
4 min read · 21 January 2013
The Cayman Islands-based firm has launched a residential housing fund, with hopes of closing the vehicle by the end of the year. Half the fund is expected to invest in Peru and Colombia. The firm's last fund closed on $42m last year.
2 min read · 21 January 2013
