Institutional investors are ramping up their commitments to distressed debt funds, but which asset class they fit into becomes complex when those commitments end up in credit vehicles raised by traditional buyout firms, according to CalSTRS CIO Chris Ailman.
2 min read · 22 January 2013
As the vast Brazilian real estate market becomes saturated with GPs both large and small, prime properties are being gobbled up at a frenzied pace. As with other BRIC markets, development is now the name of the game. By Eva Poon
10 min read · 22 January 2013
Goldman Sachs' Whitehall platform has become among the most dominant players in global property investment, raising billions and executing deals in an inimitable Goldman fashion. The firm is so opaque that even its own PPMs contain no fund-level performance data. Investors who sign on as limited partners gain access to the immense Whitehall footprint, but pay what many view to be a dizzying array of fees for the privilege. PERE goes inside an enviable franchise that its rivals have at times called ‘The Evil Empire.’ By Robin Marriott and Zoe Hughes
10 min read · 22 January 2013
The amount of chatter around private equity real estate firms raising debt funds has been hard to escape, but so far all of that talk hasn't been matched by a huge amount of actual money changing hands. As the banks remain hesitant to sell at rates which could deliver equity-like returns for the funds, many are starting to wonder whether there will really be the kind of opportunity in debt that boosters initially promised. By Dave Keating
10 min read · 22 January 2013
Kim Ho-Shik, the ousted former president of South Korea's $230bn National Pension Service, has joined the advisory board of the Singapore-based real estate investment firm.
4 min read · 22 January 2013
The growth story of the summer has been in Asia, with many firms opening new offices and making hires to manage the rapidly increasing amount of capital dedicated to the East. The type of structures and personnel they are choosing says much about their strategy going forward. By Dave Keating
6 min read · 22 January 2013
Ian Gleeson, who oversaw Morley's international multi-manager service, has joined CBRE Investors to help grow the firm's platform.
6 min read · 22 January 2013
At €2.2bn, Eric Sasson, the Frenchman in charge of Carlyle's European real estate team, has just overseen the closure of the firm's largest European fund since creating the regional platform in 2001. So how does Carlyle set about investing it? Sasson speaks with PERE about the challenges and opportunities that lay ahead. By Robin Marriott
5 min read · 22 January 2013
Owning the debt in your own transaction sounds interesting if you can buy it at a discount. But do the banks want to play ball? By Robin Marriott
5 min read · 22 January 2013
John Kukral's debut fund has closed on $1.25bn. Unusually, the fund is an ‘evergreen’ vehicle, something Northwood says will allow it to take a much longer view.
5 min read · 22 January 2013
