Profits in the fourth quarter for the New York-based firm, which manages more than $1tn in assets, were hit especially hard by hedge fund and real estate losses.
2 min read · 21 January 2013
The distressed buyout firm’s acquisition of nearly 70% of First Bank & Trust could lead to further banking asset purchases in the future.
1 min read · 21 January 2013
Ian Jackson has been hired as a director for The Carlyle Group's distressed and corporate opportunities arm. He will be 'deployed' to help invest the firm's latest distress fund, Carlyle Strategic Partners II, which closed on $1.35bn in April 2008.
1 min read · 21 January 2013
The $63.9bn US pension fund said it was planning to pull back on a proposed $150m commitment to Morgan Stanley’s $10bn global fund, blaming declining property prices and increasing debt opportunities. The fund is also looking to withhold a $100m planned commitment to an AEW open-ended fund.
2 min read · 21 January 2013
The latest NCREIF/Townsend Real Estate Fund indices shows opportunistic funds down 12.3% in the three months to September, with value-added funds down 3%. In the year to September 2008, opportunity funds were off 13.1%.
2 min read · 21 January 2013
Seth Lieberman is heading up the new global real estate fund of funds platform for Italian firm, Advanced Capital, having most recently served as managing director of real estate finance for Europe, the Middle East and Africa at Swiss banking giant UBS.
2 min read · 21 January 2013
Standard & Poor’s has a bleak outlook for the US retail sector in 2009. The ratings agency has ranked three retail companies backed by private equity firms at risk of defaulting on their debt payments.
3 min read · 21 January 2013
Close Brothers has warned that commercial property companies, banks and investors must look for creative restructuring and refinancing solutions in the face of a second wave of the credit crunch.
1 min read · 21 January 2013
Investors from Europe, US, Middle East and Japan buy in to the company’s distressed targets vision.
2 min read · 21 January 2013
The $280m joint venture fund between Blue Vista Capital Management and Place Properties is targeting $50m of equity to foreclosed and troubled student housing in the US.
1 min read · 21 January 2013
