The $28bn national oil fund has canceled commitments to funds including Alinda and Pathway Capital as it tries to re-focus on ‘core’ asset classes amid continuing losses.
2 min read · 21 January 2013
President Obama included language in his budget released yesterday that would tax carried interest as income at 39.6 percent. In other regulatory news, a bill in Congress would also require all advisors to private equity funds to register with the SEC.
3 min read · 21 January 2013
The Obama administration has built into its carried interest tax revenue forecast an expectation that GPs will eventually find ways of avoiding the full impact of the new tax.
1 min read · 21 January 2013
Opportunity funds are not alone in wanting to cherry-pick real estate assets at attractive prices.
2 min read · 21 January 2013
New York firm SecondMarket says it has attracted more than $500m worth of secondaries for its new LP fund interest trading platform.
2 min read · 21 January 2013
Former Lehman Brothers investment bankers Michael Meyers and Sean Fitzgerald have joined Macquarie’s private placement team, where they will focus on raising equity for transactions.
1 min read · 21 January 2013
The California pension is set to create a $6bn securities portfolio targeting distressed sellers that will cut across all asset classes. To make room for the portfolio, the pension is shifting its asset class allocations, including increasing allocations to real estate and private equity.
2 min read · 21 January 2013
Losses of 19.5% in public markets and 13.7% percent in private equity were partially offset by gains of a 6% gain in real estate. The Canadian pension plan, one of the country’s largest, is now valued at C$44bn, versus C$52bn at the end of last year.
2 min read · 21 January 2013
The $500m private equity fund will support the development of transport, energy and other infrastructure projects in the Latin American country. Ashmore, local partner Inverlink and technical adviser Macquarie have agreed to invest in the fund.
1 min read · 21 January 2013
Piergiulio Dentice di Accadia has joined from CB Richard Ellis Investors to manage the Cordea Savills Italian Opportunities No 2 fund. In addition, former Pirelli Real Estate professional Daniele Martignetti has also joined Cordea Savills’ Italian business.
1 min read · 21 January 2013
