The $171bn US pension has bolstered its real estate housing programme, which lost 35% in value over the first half of 2008, with the hire of James Lasher as senior portfolio manager.
1 min read · 21 January 2013
Spanish bank Santander has asked Spain’s financial regulator for permission to halt redemptions at its Santander Banif Inmobiliario FII fund. Investors have been rushing to exit ahead of the publication of a revaluation of assets as Spain plunges into recession.
1 min read · 21 January 2013
The publicly listed company is in discussions with its lenders and noteholders seeking relief from covenants on its debt. Allied has already seen one of its portfolio companies, real estate lender Ciena Capital, collapse into bankruptcy.
2 min read · 21 January 2013
The $45.4bn Pennsylvania Public School Employees Retirement System has joined New Jersey in withdrawing planned commitments to funds, including Beacon, Carlyle, Stockbridge and Mesa West.
1 min read · 21 January 2013
PERE Forum: Asia 2009. Jonathan Brasse reports on the top ten issue that came out of the conference.
3 min read · 21 January 2013
Chief financial officer Luc Leroi and Arnaud Bricout, who manages Orco’s corporate finance department, have resigned from the property group. Some 220 people have lost their jobs under restructuring plans so far.
2 min read · 21 January 2013
Draft legislation in circulation on Capitol Hill envisions a 'National Infrastructure Reinvestment Corporation' that would spur $48bn of infrastructure investment by providing grants, loans and tax incentives to select projects sponsored by public, private and non-profit entities.
3 min read · 21 January 2013
Paris-headquartered AXA Private Equity has formed a partnership with Italian industrial firm Tozzi Group to invest in Italian wind farms, hydroelectric and solar projects. AXA infrastructure head Mathias Burghardt says renewable energy has a 'bright future'
1 min read · 21 January 2013
The Chicago-based fund manager has completes its tender offer to buy retirement community REIT, American Land Lease, after twice extending the deadline. The firm set a minimum tender of 88% of outstanding shares and achieved just 85.5% on the first outing.
1 min read · 21 January 2013
The Detroit-based private equity real estate firm, which expects to close its MGRA Genesis Value Fund on $150m in 2009, may consider China’s commercial real estate market following a fact-finding trip last year.
2 min read · 21 January 2013
