Merrill Lynch has instigated a process to sell the management of its pan-Asia real estate opportunity fund. The New York-based investment bank is thought to have begun sounding out potentially interested parties.
2 min read · 21 January 2013
The fund, which began fundraising in mid-2008, aims to meet its target before the end of 2009, according to reports. Tata plans to develop $2.3bn of real estate projects over the next three years.
2 min read · 21 January 2013
South Korea’s National Pension Service will reportedly resume its overseas investments from next month and increase its investments in overseas alternative assets.
1 min read · 21 January 2013
The Canadian private equity firm has been amassing the bankrupt casino operator’s senior debt. Onex made the investment from its third buyout fund, which is nearing a $3.5bn close.
2 min read · 21 January 2013
India’s largest listed developer is reportedly preparing to sell non-core assets over the next three years to repay more than $2.8bn of debt. DLF founders this week sold 10% of the development company to raise cash to buy out private equity firm DE Shaw from property trust, DLF Assets.
2 min read · 21 January 2013
The Chicago-based firm co-founded by Sam Zell and Gary Garrabrant categorically rules out investing in the US but says it wants to grow its five investments in Brazil real estate operating companies to at least seven or eight. The firm is also looking to China, Vietnam and Egypt for future deals.
2 min read · 21 January 2013
SUN Apollo Ventures has invested more than $60 million by acquiring a stake in Mumbai-based developer, Keystone Realtors. The joint venture between AREA Property Partners and the Khemka family promoted SUN Group will also invest in the developer’s projects.
1 min read · 21 January 2013
The $200bn sovereign wealth fund is shifting around its senior investment officers as it reorganises its investment departments.
1 min read · 21 January 2013
Delegates at an Asian property conference said their intention is to increase allocations to property with a bias towards listed companies.
1 min read · 21 January 2013
Investors in Morgan Stanley’s $8bn MSREF VI International fund have been told to expect a 0.7x haircut. The firm will focus on preserving and generating liquidity, deleveraging and de-risking the portfolio and working through debt issues with lenders, LPs learned at a meeting in New York last week.
1 min read · 21 January 2013
