Chairman of oil group Melrose Resources, Robert Adair, will face a hearing to determine damages for failing to honour his commitment to Advantage Capital’s buyout fund. The ruling could set a precedent for over whether GPs take action over LP defaults in the future.
2 min read · 24 January 2013
Asia Investment Partners, a Tokyo and Denver-based private equity firm which focuses on “socially responsible investments” is to launch a nursing homes fund for Japan which would acquire ¥75 billion of properties over the next three years.
1 min read · 24 January 2013
Florida-based Ram Realty and New York’s Square Mile Capital Management have formed a JV to acquire a portfolio of 38 non-performing loans with a total par value of around $150m.
1 min read · 24 January 2013
The group, founded by telecoms entrepreneur David Brillembourg, is targeting luxury beachfront hotels within three hours travelling time of Miami. The firm last year bought a Miami hotel for a group of family offices in a $30m all-cash deal.
2 min read · 24 January 2013
Two private equity firms have acquired almost all the assets of the 84-year-old Sea Island resort in a deal that saw creditors walk away from $340m of secured debt. Bankruptcy court must approved the deal, which is unlikely to be challenged.
2 min read · 24 January 2013
The pension’s investment committee has approved a $25m commitment to oil and gas-focused Encap’s eighth fund, targeting $2.5bn.
1 min read · 24 January 2013
Patron Capital, the Europe-focused private equity real estate firm, has acquired a majority position in the Manchester Evening News Arena, the renown concert venue in Manchester, UK. The firm has made the investment in the 21,000 capacity venue via a joint venture with London-based Development Securities.
2 min read · 24 January 2013
Los Angeles-based Oaktree Capital Management is in talks to buy a controlling stake in troubled Irish housebuilder McInerney Holdings
2 min read · 24 January 2013
The firm’s 2006 global buyout fund, which raised nearly $18bn, is nearing the 75% invested threshold.
2 min read · 24 January 2013
The Wall Street titan reported a slight dip in its alternative assets, which a spokesperson has clarified will be liquidated over the next 10 years as per normal operating procedures.
2 min read · 24 January 2013
