The real estate investment firm has bought the office property that was the backdrop to the US TV show, LA Law, from Broadway Partners for an undisclosed sum. Broadway says it is in the midst of ‘harvest’ the value of its property portfolio.
2 min read · 22 January 2013
Jay Light, former professor to Steve Schwarzman and a director of university endowment Harvard Management Company, has joined Blackstone’s board of directors. Separately, Blackstone has been named as an advisor in the $85bn bailout of AIG.
2 min read · 22 January 2013
US presidential candidate John McCain has come under fire by the Service Employees International Union for his ties to Kohlberg Kravis Roberts founder Henry Kravis. However, according to the Center for Responsive Politics, it is McCain’s Democratic rival Barack Obama that is pulling in the most money from the private equity industry.
2 min read · 22 January 2013
PricewaterhouseCoopers, the administrators to Lehman Brothers in the UK, has discovered more than 200 subsidiaries and joint ventures across the region. Investors are lodging their expressions of interest.
1 min read · 22 January 2013
A survey has found that 25 percent of European investors are considering cutting their exposure to real estate funds in the short-term, yet investors are also planning to increase their exposure to opportunity funds.
3 min read · 22 January 2013
Boca Raton, Florida-based private equity firm Sun Capital Partners has acquired value-priced retailer Gordmans, which counts 65 stores in the Midwestern US.
2 min read · 22 January 2013
Kohlberg Kravis Roberts has hired Makram Azar, former global head of sovereign wealth funds at Lehman Brothers. Azar will lead its push into the Middle East and North Africa, setting up KKR's first office in the region.
2 min read · 22 January 2013
The publicly listed private equity firm has said the fall in its share price Tuesday was probably due to an unnamed financial institution being forced to unwind a Eurazeo securities-backed loan, to which Lehman was the counterparty.
1 min read · 22 January 2013
The ability of insurer AIG, which was today bailed out by the US government, to seek liquidity through the sale of its asset management arm will be slowed by US government ownership, by the scope of the firm’s operations, and because the firm manages AIG balance sheet capital as well as client funds.
2 min read · 22 January 2013
The selection of John Koskinen to lead the seized mortgage giant brings to three the number of private equity pros asked this month to head up troubled financial services companies.
2 min read · 22 January 2013
