The placement agent, co-founded by AVP executives Vicky Schiff and Peter Borges, paid ‘consulting’ fees to the firm run by Henry Morris. Morris is now under investigation as part of the growing kick-back scandal involving the New York State Common Retirement Fund.
2 min read · 21 January 2013
The Abu Dhabi investment fund’s annual report reveals it has written down its 7.5% stake in Carlyle’s management company, which would value the private equity firm at roughly $12.7bn.
1 min read · 21 January 2013
The pension, with assets of $16bn as of 30 June 2008, made more than $300m of commitments in the past month, including to a debt fund from Mesa West Capital. The Mesa West fund, which is reportedly targeting up to $500m, is expected to close in the coming months, sources say.
1 min read · 21 January 2013
The Canadian pension fund lost 25% of its value last year leaving it with just C$120bn in assets compared to C$155bn in 2007. Private equity and real estate investments lost 31% and 22% respectively, with Caisse warning its Lone Star investments had performed poorly.
2 min read · 21 January 2013
The state’s comptroller, Thomas DiNapoli, has banned the use of placement agents in investments with the $122bn pension, and has launched a review of pension investments with firms involved in the New York Common kick-back scandal.
3 min read · 21 January 2013
William Thompson, New York City’s comptroller who controls the city's five combined pensions, has called a meeting of trustees of the five pensions to consider the ban. Thompson has also asked New York’s attorney general to investigate Quadrangle, to which the city committed $125m in 2005 and 2006.
1 min read · 21 January 2013
The New York Common scandal will tar the reputation of placement agents unless market participants disseminate and enforce a clear distinction between valuable fundraising services and sleazy influence peddling, writes David Snow.
3 min read · 21 January 2013
The real estate mezzanine investor has closed its High Yield Partners II Fund on $243m. The vehicle will originate mezzanine loans and invest in preferred equity positions.
1 min read · 21 January 2013
The New York-based private equity real estate firm has raised €3.1bn to date for its third European vehicle, according to regulatory filings.
1 min read · 21 January 2013
The Pennsylvania-based fund of funds has raised more than $75m for the fund, Penn Square Global Real Estate Fund II, according to regulatory filings this week. The firm’s first fund closed last year on $231m.
1 min read · 21 January 2013
