The $28bn Alaska Permanent Fund says it's a 'difficult time to be an investor' as it saw heavy losses in the public real estate markets in 2008. Overall, Alaska’s real estate portfolio lost around 8% of its value, with its REIT investments falling almost 50%.
1 min read · 21 January 2013
Wall Homes, the Warburg Pincus-backed homebuilder, has filed for Chapter 11 bankruptcy protection blaming falling home sales in Texas and the credit squeeze. Warburg Pincus’ eighth buyout fund is owed $42m.
2 min read · 21 January 2013
The real estate buyout arm of Lehman Brothers, Lehman Brothers Private Equity Real Estate, has attracted more than 100 expressions of interest for its fund positions and the group operations. Lehman is running a formal bidding process to assess options for the divison. An announcement is expected in Q1.
2 min read · 21 January 2013
The bankrupt newspaper company Tribune Company is hammering out a final agreement to sell the Chicago baseball team purchased by real estate mogul Sam Zell to investment bank head Tom Ricketts, according to a report. Ricketts beat real estate investor Hersch Klaff and private equity executives Marc Utay and Leo Hindery.
2 min read · 21 January 2013
The words of US President Barack Obama during his inauguration this week might well have been said by a GP to his LPs. Here we present an abridged version, with PERE translations.
2 min read · 21 January 2013
Profits in the fourth quarter for the New York-based firm, which manages more than $1tn in assets, were hit especially hard by hedge fund and real estate losses.
2 min read · 21 January 2013
Transportation Secretary nominee Ray LaHood described public-private partnerships and the tolling of new roads and bridges as “outside the box” ideas the US government should consider in reauthorising an important transport spending bill later this year.
2 min read · 21 January 2013
Joseph Dear, former executive director of the Washington State Investment Board, will take the reins of the pension’s $178bn in assets following the departure of Russell Read last June. Interim CIO Anne Sausboll was recently bumped up to CEO.
2 min read · 21 January 2013
The Avon Pension Fund has appointed Schroders to manage a £90m UK property multi-manager mandate.
1 min read · 21 January 2013
The central Europe developer created by Irish private equity real estate firm Quinlan Private and Chicago's Golub is creating a residential complex called Modransky Haj.
1 min read · 21 January 2013
