The Australian sovereign wealth fund's exposure to private equity grew 520% year-over-year.
2 min read · 21 January 2013
PEI Media’s sister publication, PERE magazine, recent sat down to speak with Keith O’Donnell, the global head of real estate at Taxand, to discuss the grand tax themes shaping the industry. From crackdowns on abuse of tax treaties to attacks on interest deductibility of intra-company loans and the taxation of debt investments, there is plenty to concern private fund managers.
6 min read · 21 January 2013
The bill includes an exemption for Small Business Investment Companies as well as venture capital firms, and raises the minimum threshold for assets under management from $30 million to $150 million.
2 min read · 21 January 2013
A 1994 RFP from the pension to invest in inner-city neighbourhoods received a single proposal – from a firm controlled by Victor MacFarlane, who has now ‘resigned’ as the manager of the closely watched California Urban Investment Partners.
3 min read · 21 January 2013
The court ruling that Tishman Speyer and BlackRock improperly raised rents on rent-stabilised apartments at a landmark New York complex is big news for the firms – and New York real estate. By Zoe Hughes
4 min read · 21 January 2013
New York’s highest court finds that Tishman, BlackRock, and previous owner MetLife, improperly deregulated rents at the Manhattan complex. Tenants who brought the case are claiming back rent and damages of up to $600m.
3 min read · 21 January 2013
Shareholders have backed plans to turn the special purpose acquisition vehicle set up by NRDC in 2007 into a REIT. The SPAC, which raised $414m in its 2007 IPO, would have legally had to liquidate if shareholders had said no.
1 min read · 21 January 2013
The wide variety of reporting methods used by GPs in real estate has caused LPs to increase their data requests three-fold, a senior partner at Ernst & Young contends.
1 min read · 21 January 2013
In the year to the end of June 2009, opportunistic real estate funds returned -50.3% to investors, compared to -34.4% for closed-ended value-added funds, according to the latest NCREIF/Townsend performance figures.
1 min read · 21 January 2013
Opportunistic real estate funds have reported -50% returns in the past year. But do GP-submitted fund valuations face up to the full reality of collapsed property prices? By Zoe Hughes
2 min read · 21 January 2013
