An uptick in real estate investment activity by SWFs in 2008 may indicate a long-term investment trend, including helping to fill the debt financing void, according to a Deloitte report.
2 min read · 21 January 2013
The Cayman Islands-based firm has launched a residential housing fund, with hopes of closing the vehicle by the end of the year. Half the fund is expected to invest in Peru and Colombia. The firm's last fund closed on $42m last year.
2 min read · 21 January 2013
Merrill Lynch puts plans for its second Asian real estate opportunity fund on ice as it awaits direction from the bank’s new owners, the Bank of America.
1 min read · 21 January 2013
American International Group is close to selling its $1 billion Japanese headquarters as it looks to reduce its debt position. In a report by the Wall Street Journal, the embattled insurer has attracted at least two bidders for the 15-story building.
1 min read · 21 January 2013
April was a month of senior departures, many of whom built the platforms and raised the funds that PERE LPs find themselves committed to today. The issue has become an area of grave concern.
3 min read · 21 January 2013
New Mexico’s governor Bill Richardson ordered the state’s $11.8bn oil and gas endowment to suspend investing in private equity and real estate while the endowment reviews investment recommendations made by Aldus Equity. Recommended commitments to Landmark Equity, Newstone Capital, Veronis Suhler Stevenson and Ares Management will have to go through a 'vetting' process again.
2 min read · 21 January 2013
Investors in Morgan Stanley’s $8bn MSREF VI International fund have been told to expect a 0.7x haircut. The firm will focus on preserving and generating liquidity, deleveraging and de-risking the portfolio and working through debt issues with lenders, LPs learned at a meeting in New York last week.
1 min read · 21 January 2013
Citi Property Investors has abandoned efforts to raise a follow-on fund to its 2007 Asia focused vehicle and has decided to give back approximately $400 million to investors.
1 min read · 21 January 2013
New York’s Attorney General Andrew Cuomo has indicted Saul Meyer for allegedly making illegal payments to Henry Morris in exchange for business with the $122bn New York State Common Retirement Fund. Cuomo said he is actively coordinating with other states’ law enforcement agencies on the investigation.
4 min read · 21 January 2013
The majority of investors led by US private equity firm JC Flowers has rejected Germany’s offer for real estate lender Hypo Real Estate after the board of the bank accepted it. A small minority in the JC Flowers led consortium have agreed to sell their position.
1 min read · 21 January 2013
