The deal allows the troubled infrastructure fund manager to proceed with a sell down of its assets over a two to three year period as it begins to repay the A$3.2bn it owes to a syndicate of 25 banks on a 'pay if you can' basis.
2 min read · 21 January 2013
European arm of US logistics giant ProLogis has now sold its remaining one-third stake in ProLogis European Properties Fund II to a handful of outside investors in a bid to reduce debt.
2 min read · 21 January 2013
As limited partners see distressed development as an investment opportunity, they are asking general partners for shorter fund lengths.
1 min read · 21 January 2013
Just $435bn was invested worldwide in commercial property in 2008, according to Cushman & Wakefield, down 59% from $1tn in 2007. Those figures are expected to fall again in 2009. Emerging markets were the most resilient though – with China now the world's second most popular country for investment.
2 min read · 21 January 2013
Annapolis, Maryland-based Thayer Lodging Group positions itself to buy distressed hotel assets after hiring former HEI Hotels & Resorts acquisitions executive Jin Lee. The firm 'intends to be a major investor' in 2009.
1 min read · 21 January 2013
The Swiss bank’s CHF599m in private equity write-downs contributed to an overall yearly loss of CHF1.1bn in the asset management division. The bank is overhauling its asset management division to focus more on alternatives.
2 min read · 21 January 2013
Some of the world’s biggest private equity firms – including KKR, Blackstone, Carlyle, Permira, Providence, Apax and Apollo – have committed to consider environmental, social and corporate governance issues when making investments.
3 min read · 21 January 2013
The UK property company established by the Kuwait sovereign wealth fund has acquired an asset in central Tokyo.
2 min read · 21 January 2013
Private equity real estate players targeting the US residential sector will have to wait several weeks for details of President Barack Obama’s plans to help homeowners facing foreclosure. Some fear it could prevent the market from finding a natural bottom.
2 min read · 21 January 2013
US Treasury Secretary Timothy Geithner admits the strategy will ‘cost money, involve risk, and take time’, as he outlines plans to create a public-private investment fund to help banks get rid of their ‘legacy’ loans and assets, as well as expand the government’s lending scheme to include help for commercial mortgages.
2 min read · 21 January 2013
