The ultra and high-net-worth community shrank by 25% and 15% respectively in 2008, according to the latest Merrill Lynch/Capgemini world wealth report. However, the allocation to real estate rose by 4% – despite a general move towards liquid assets.
2 min read · 21 January 2013
The manager of an open-ended opportunity fund says a growing number of property developers are facing funding problems on new projects because their banks are freezing lending until they can demonstrate a certain level of off-plan sales.
1 min read · 21 January 2013
The European Bank for Reconstruction and Development (EBRD) has proposed a €75 million commitment to Chicago-based Heitman’s European Property Partners IV fund. The vehicle is targeting €600m of equity by its final close in September.
1 min read · 21 January 2013
US pension fund Maine PERS has called in outside help to invest the remaining 5 percent of its targeted allocation to real estate. According to reports, this could lead to expanding the pension fund’s investment horizon from core style investing to opportunistic.
1 min read · 21 January 2013
AiM-listed Hansteen Holdings has become the latest name to try luring more equity through the issue of shares. The firm believes now is the time to execute industrial property deals at “double digit” yields.
2 min read · 21 January 2013
Internos Real Investors, the London-based private equity real estate firm that is raising its debut fund, has made Richard Peskin chairman following his appointment as capital partner in March.
1 min read · 21 January 2013
Paris-based private equity real estate firm AEW Europe has poached a managing director from Australia’s Goodman Group to take charge of businesses including its separate accounts business and its Paris-based funds.
1 min read · 21 January 2013
Segro, an industrial property specialist, this morning said it had agreed terms for a takeover of Brixton, though a formal offer is yet to be made. Private equity real estate firms had been linked with a buyout of Brixton, but the announcement this morning makes consolidation of the two UK REITs more likely.
1 min read · 21 January 2013
This month saw two direct investments in the City of London by Middle Eastern investors better known for making third party investments into blind pool, discretionary funds. PERE spoke with the agent behind these deals about their wind change in investment priorities.
2 min read · 21 January 2013
Cliff Hawkins is becoming UK chairman of UBS Global Asset Management’s real estate business following recent departures. Anthony Shayle has joined as managing director and head of the UK business having recently joined from AXA Real Estate Investment Managers.
2 min read · 21 January 2013
