Standard & Poor’s has downgraded the credit ratings of Middle Eastern banks Investcorp and Arcapita due to concerns over high leverage, a strain on liquidity and an expected fall in the value of the firms' private equity and real estate investments.
2 min read · 21 January 2013
The Southern California-based private equity advisor will manage AMP’s Future Directions Private Equity Fund and act as the firm’s ‘exclusive’ partner in Australia and New Zealand.
2 min read · 21 January 2013
3i veteran Michael Queen will now steer the firm, whose top 50 investments lost £682m in the past nine months. Last year, 3i invested a total of £841m, down dramatically from the £1.8bn the prior year. 3i's share price has plummeted in recent months, this morning losing nearly 4%, giving it a £941m market capitalisation.
2 min read · 21 January 2013
The real estate arm of the sovereign wealth fund has sold a stake in the Centre International de Conferences, to HongKong and Shanghai Hotels for €100m. The centre will be redeveloped into the Peninsula Hotel.
1 min read · 21 January 2013
In its outlook for 2009, Shuaa Capital warns that the Abu Dhabi real estate market will follow Dubai’s downturn, although to a lesser extent.
2 min read · 21 January 2013
The New York-based private equity firm is reportedly on the brink of making up to 27 of its 275 employees redundant.
1 min read · 21 January 2013
The private equity real estate firm with more than $3bn in dry powder has hired Matthew Kenney, David Finkel, Zubin Irani, Andrew Gummer and Kunihiko Okumura as principals and managing principals to work from its New York, London and Tokyo offices.
2 min read · 21 January 2013
The Dubai-based investment bank says it will avoid regulatory conflicts from a dual listing, as well as boost liquidity and trading volume by remaining traded only in Dubai.
1 min read · 21 January 2013
The South Carolina theme park, backed by publicly listed Israeli holding companies Africa Israel Investment and Polar Investments, failed to find a buyer while in bankruptcy and will liquidate just nine months after opening.
1 min read · 21 January 2013
The firms have held a $150m first close and expect to raise $200m by the end of the first quarter.
1 min read · 21 January 2013
