US Treasury Secretary Timothy Geithner admits the strategy will ‘cost money, involve risk, and take time’, as he outlines plans to create a public-private investment fund to help banks get rid of their ‘legacy’ loans and assets, as well as expand the government’s lending scheme to include help for commercial mortgages.
2 min read · 21 January 2013
The AG Asia Realty Fund II would be almost double the size of its predecessor and would invest across all sectors, primarily in China and Japan, with a secondary focus on Korea and Southeast Asia.
1 min read · 21 January 2013
The head of JC Flowers told a packed New York conference last week that he is bullish on US government-assisted bank bailouts, similar in risk profile to the landmark takeover of Japan’s Shinsei bank, which turned into one of the most lucrative private equity deals in history and solidified Flowers’ reputation as a financial-services wizard.
3 min read · 21 January 2013
The popularity of value-added funds has declined by more than a quarter among European investors in the past year, according to an industry report. However core funds are in the ascendency while demand for opportunity funds remains stable.
2 min read · 21 January 2013
3i veteran Cressida Hogg has replaced Michael Queen, who took over as 3i's CEO from Philip Yea earlier this week. 3i's infrastructure arm also said it sold a 31% stake in its Infrastructure Investor fund to Barclays for £164m.
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
The $153bn pension allocated $200m to Bank of America for investments with emerging managers, and $350m to minority-owned Parish Capital as part of its emerging private equity managers programme.
2 min read · 21 January 2013
The UK-based association representing more than 20 investor institutions, including the Wellcome Trust, Hermes and the USS, is seeking to raise its profile and better represent LPs during the downturn.
2 min read · 21 January 2013
The real estate buyout arm of Lehman Brothers, Lehman Brothers Private Equity Real Estate, has attracted more than 100 expressions of interest for its fund positions and the group operations. Lehman is running a formal bidding process to assess options for the divison. An announcement is expected in Q1.
2 min read · 21 January 2013
Unpredictable capital flows and managers often relying on minority stakes are two reasons why the banking giant’s private equity group will only increase exposure to emerging markets private equity at ‘a measured pace’.
2 min read · 21 January 2013
