Real estate funds raised just $57bn during 2008 – compared to $85bn in 2007 – with Asia the investment destination of choice.
2 min read · 22 January 2013
The board of directors at Pirelli RE has reviewed and approved actions for further reorganisation of the company as part of a restructuring. They are responding to the changed scenario and prospects for the real estate sector.
2 min read · 22 January 2013
The New York-based private equity firm has agreed to buy a 70% stake in Flagstar Bancorp as long as the US government injects $250m from the Troubled Assets Relief Program in the bank.
2 min read · 22 January 2013
One of the firm’s portfolio companies, Aozora Bank, is a victim in the alleged Ponzi scheme, and the chairman of another portfolio company controls a feeder entity that may have lost $1.8bn to Madoff.
2 min read · 22 January 2013
In a move to shift away from equity risk, The State of Wisconsin Investment Board has raised its real estate and private equity targets 1% each and doubled the target of its tactical multi-asset allocation.
1 min read · 22 January 2013
The US’ second largest mall owner says it has extended the maturity deadline on $900m of loans until February next year. The debt, tied to two Las Vegas properties, had been due for repayment last week.
2 min read · 22 January 2013
The C$117.4 billion Canada pension fund is the first investor in Multi Corporation’s retail fund. The fund comprises 21 retail development projects throughout Turkey. CPPIB say Turkey is one of the 'most promising' developing markets in Europe.
1 min read · 22 January 2013
Pending a final decision due next year, the UK’s Competition Commission may require British airport operator BAA to sell the two airports in addition to its sale of London’s Gatwick Airport, which is already underway.
2 min read · 22 January 2013
The former investment bank, which has applied to become a bank holding company, took a loss of $1.8bn in its asset management division, which includes real estate and private equity businesses.
2 min read · 22 January 2013
Non-listed property vehicles are increasing the visibility of their fee structures, according to a study by INREV. However fund managers still use a wide range of methods to calculate their annual management fee, with value-added and opportunistic funds charging on average 0.65 percent and 1.37 percent each year.
2 min read · 22 January 2013
