The pension's board, which manages about $110bn in assets, has also significantly increased the target for private equity, as well as strategic investments, which includes debt funds and infrastructure.
2 min read · 24 January 2013
The latest twist in the Capitol Hill carried interest drama would treat 65% of carried interest as ordinary income, but that would drop to 55% for investments held for seven years or more.
2 min read · 24 January 2013
Essdar Capital, an Abu Dhabi-backed fund based in Dubai, has taken control of an Oman real estate scheme in a deal dubbed by the Financial Times as a “landmark regional distressed real estate deal”
1 min read · 24 January 2013
A new, new tax compromise makes carried interest even more legit.
2 min read · 24 January 2013
BMB Group, founded by Rayo Withenage and Brunei’s Prince Abdul Ali 'Yil-Kabier, has invested an undisclosed sum in Contrarian Capital Partners and its subsidiary Beacon Hospitality Partners SARL. In separate news, former CEO of Irvine Company Michael McKee has joined advisory firm Kennedy Associates as chief executive.
2 min read · 24 January 2013
An investment policy approved by the trustees of the Florida State Board of Administration will give the state’s $110bn retirement system the flexibility to invest up to 2% of its assets in infrastructure. The move is part of a broader portfolio transition that shifted about 10% of allocations away from listed equities and fixed income towards alternatives.
3 min read · 24 January 2013
For pensions looking to get into infrastructure, the inaugural ranking of the 30 largest infrastructure investors in the world – compiled by Infrastructure Investor magazine – shows that direct investing is the way to build a hefty investment programme in the asset class.
2 min read · 24 January 2013
The German group will list its Australian construction unit – now known as Valemus – in July in a bid to raise up to A$1.4bn.
2 min read · 24 January 2013
Billionaire activist investor Nicolas Berggruen has reportedly won the bidding for the troubled German department store chain, Karstadt. The Goldman Sachs-led investment entity Highstreet, which owns a majority of Kartstadt real estate assets, is said to be unwilling to make concessions requested by Berggruen to save the department store brand.
2 min read · 24 January 2013
In a recent survey by a London-based consultancy, infrastructure tops the list as the most favoured asset class for institutional investors. Nearly 40% of surveyed investors say they will increase their infrastructure allocation over the next three years.
2 min read · 24 January 2013
