The New York-based private equity firm has agreed to buy a 70% stake in Flagstar Bancorp as long as the US government injects $250m from the Troubled Assets Relief Program in the bank.
2 min read · 22 January 2013
The auto-parts supplier has succumbed to its debt load after failing to refinance $53m on loans. Distressed debt firm Wayzata Investment Partners has bought the company’s debt and will control the bankruptcy process.
1 min read · 22 January 2013
As investors start to eye distressed real estate investment trusts, the US’ second largest mall owner reveals it has not reached 'unanimous agreement' to extend $900m in debt on two Las Vegas loans. The firm is in talks with its lenders, after the loans were due for repayment last Friday.
2 min read · 22 January 2013
Fund managers will however see opportunities in REITs, discounted fund interests, non- and partially-performing loans and defaulting land and development deals, according to LaSalle Investment Management’s annual strategy report.
2 min read · 22 January 2013
The New York-based private equity and real estate firm will cut 5% of its roughly 1,400-member workforce. The news comes after the publicly listed firm reported steep losses in its third quarter earnings, despite a $13bn real estate war chest.
2 min read · 22 January 2013
The Los Angeles-based private equity firm acquired most of the food product supplier’s debt for less than $200m after it filed bankruptcy earlier this year. Madison Dearborn Capital Partners bought Pierre for $422m in 2004.
1 min read · 22 January 2013
The deal is the private equity real estate firm’s largest to date and includes 13 offices and one distribution centre across 10 US states. The firm says some institutional investors are looking for “less volatile” real estate opportunities.
2 min read · 22 January 2013
The private equity real estate firm will invest in value-added and development opportunities in the region through its second Asia-focused real estate vehicle, according to US pension documents. It raised $410m for its first Asia-focused fund three years ago.
2 min read · 22 January 2013
China’s $200bn sovereign wealth fund has said that it will not pump money into troubled western financial institutions citing a lack of ‘sincere cooperation’ on the part of the US government.
2 min read · 22 January 2013
The San Mateo, California-based financial group, which manages value-added and opportunistic real estate funds, applies for bank holding status as it seeks a capital infusion from the US government.
2 min read · 22 January 2013
