The real estate giant leaves behind a real estate empire that was purchased by CB Richard Ellis for $2.2bn in 2006, as well as a private investment office currently deploying $847m in capital. He died on 14 January after starting his real estate career in 1948.
1 min read · 21 January 2013
Dubai World-owned Istithmar World has reduced its staff by 13 in a bid to address existing market conditions. The investment firm is split into four units, including a private equity and a real estate arm. It has deployed more than $3bn since 2003.
2 min read · 21 January 2013
The Mumbai-based fund manager has closed on $150 million for its latest property fund, in which 3i is a key investor. The fund will invest in Tier 1 cities in India.
1 min read · 21 January 2013
Britain says that the original plan to infuse the battered banking industry has proved to be insufficient. Among new schemes is a £50bn fund enabling the Bank of England to buy up troubled financial assets such as syndicated loans.
3 min read · 21 January 2013
Three industry titans vie for one prestigious PERE award. Have you cast your vote?
2 min read · 31 January 2013
The Toronto Stock Exchange-traded alternative asset manager has reduced the final target for its buyout fund to $4bn from $4.5bn, but can increase its commitment in the future.
1 min read · 21 January 2013
The company, which owns the Minneapolis Star Tribune newspaper, could not sustain its debt load as its experienced significant declines in sales amid the downturn of the US economy.
2 min read · 21 January 2013
The $63.9bn US pension fund said it was planning to pull back on a proposed $150m commitment to Morgan Stanley’s $10bn global fund, blaming declining property prices and increasing debt opportunities. The fund is also looking to withhold a $100m planned commitment to an AEW open-ended fund.
2 min read · 21 January 2013
Three industry titans vie for one prestigious PERE award. Have you cast your vote? Polls close on 3 February for the third annual PERE Global Awards and competition is fierce. Will MGPA or GIC take the Asian firm of the year award. Will Niam/Goldman Sachs beat competition from AIG for European exit of the year?
2 min read · 21 January 2013
The private equity real estate firm with more than $3bn in dry powder has hired Matthew Kenney, David Finkel, Zubin Irani, Andrew Gummer and Kunihiko Okumura as principals and managing principals to work from its New York, London and Tokyo offices.
2 min read · 21 January 2013
