The specter of a return to the 1989 Resolution Trust Corporation was raised today as the US Treasury said it would introduce a ‘relief program’ for troubled mortgage assets. If formed, the program would consolidate an enormous pool of assets for opportunistic buyers to feast upon.
3 min read · 22 January 2013
The real estate investment firm has bought the office property that was the backdrop to the US TV show, LA Law, from Broadway Partners for an undisclosed sum. Broadway says it is in the midst of ‘harvest’ the value of its property portfolio.
2 min read · 22 January 2013
Jay Light, former professor to Steve Schwarzman and a director of university endowment Harvard Management Company, has joined Blackstone’s board of directors. Separately, Blackstone has been named as an advisor in the $85bn bailout of AIG.
2 min read · 22 January 2013
US presidential candidate John McCain has come under fire by the Service Employees International Union for his ties to Kohlberg Kravis Roberts founder Henry Kravis. However, according to the Center for Responsive Politics, it is McCain’s Democratic rival Barack Obama that is pulling in the most money from the private equity industry.
2 min read · 22 January 2013
A survey has found that 25 percent of European investors are considering cutting their exposure to real estate funds in the short-term, yet investors are also planning to increase their exposure to opportunity funds.
3 min read · 22 January 2013
Boca Raton, Florida-based private equity firm Sun Capital Partners has acquired value-priced retailer Gordmans, which counts 65 stores in the Midwestern US.
2 min read · 22 January 2013
The ability of insurer AIG, which was today bailed out by the US government, to seek liquidity through the sale of its asset management arm will be slowed by US government ownership, by the scope of the firm’s operations, and because the firm manages AIG balance sheet capital as well as client funds.
2 min read · 22 January 2013
The selection of John Koskinen to lead the seized mortgage giant brings to three the number of private equity pros asked this month to head up troubled financial services companies.
2 min read · 22 January 2013
MatlinPatterson co-founder Mark Patterson yesterday characterised today's economy as the most troubled since the period following the US stock market crash in 1929. Operational concerns are now second to broader financial markets considerations when conducting due diligence, he said.
2 min read · 22 January 2013
The private investment firm has repurchased the 70-store retail company, which includes souvenir and Harvey Davidson stores in Las Vegas and Atlantic City, after previously acquiring the company just five years ago.
2 min read · 22 January 2013
