The president of private equity real estate firm GoldenTree InSite Partners, Tom Shapiro, has warned the US real estate market is in store for more pain ahead as fundamentals, such as rents, weaken. It comes as UK real estate company, British Land, said prospective rents were “drifting downwards.”
2 min read · 22 January 2013
The Public School Employees’ Retirement System has approved new commitments to private equity and real estate funds, including a $200m investment in Beacon’s latest $6bn property fund.
1 min read · 22 January 2013
The stakes are raised in the gaming industry as a listed-investment vehicle of private equity firm Apollo Global Management marks down its co-investment in casino company Harrah’s Entertainment by 25%. Harrah’s was acquired by Apollo and TPG for a total of $17.1bn earlier this year.
2 min read · 22 January 2013
A report by PCA to the $234bn California pension fund has highlighted China and India as the most attractive emerging markets in which to invest. The pension will next week consider backing calls to allocate significantly more capital to emerging markets over the next decade.
2 min read · 22 January 2013
The $234.2bn pension is mulling a possible change to its private equity allocation, as the twin forces of sinking assets under management and shrinking distributions have combined for an overweighted alternatives exposure.
3 min read · 22 January 2013
Following its massive investment in Macau casino and hotel operator Galaxy, the firm has hired a former Goldman banker in its recently established Hong Kong office to lead its efforts in Greater China.
2 min read · 22 January 2013
The Canadian pension bucks the loss-making trend among North American pension funds returning one percent on its investments in the three months to June this year. The pension’s real estate allocation now stands at 5.6%, or $7.2bn. Infrastructure makes up 2.6%, or $3.3bn, of its portfolio.
2 min read · 22 January 2013
The $2.7bn Fresno County Employees’ Retirement Association has increased its exposure to private equity and real estate while launching a new ‘real asset’ allocation, which includes infrastructure.
2 min read · 22 January 2013
The real estate investment arm of Prudential Financial is teaming up with investment and development company L&L Holdings to target office buildings in the New York City metro area. The firms argue ‘softening’ prices are generating unique opportunities.
2 min read · 22 January 2013
The $127bn pension fund saw its real estate investments return just 8.7% in the year to June 30, 2008 – against a benchmark of more than 10%. Despite its underperformance, real estate remained the strongest asset class for the pension during turbulent market conditions.
2 min read · 22 January 2013
