Daniel Cummings, formerly of The Carlyle Group and LaSalle Investment Management, will reportedly take over as managing director of real estate investment for Harvard University’s endowment. The position has been vacant since 2007.
2 min read · 21 January 2013
The Abu Dhabi investment fund’s annual report reveals it has written down its 7.5% stake in Carlyle’s management company, which would value the private equity firm at roughly $12.7bn.
1 min read · 21 January 2013
The bank, which is currently assisting with fundraising for groups including MBK Partners, Alinda Capital and Citadel, has decided to wind down its private equity fund placement arm by year end. Two of its executives have already been hired by Credit Suisse as part of its asset management division's global expansion.
2 min read · 21 January 2013
The Canadian pension fund lost 25% of its value last year leaving it with just C$120bn in assets compared to C$155bn in 2007. Private equity and real estate investments lost 31% and 22% respectively, with Caisse warning its Lone Star investments had performed poorly.
2 min read · 21 January 2013
The state’s comptroller, Thomas DiNapoli, has banned the use of placement agents in investments with the $122bn pension, and has launched a review of pension investments with firms involved in the New York Common kick-back scandal.
3 min read · 21 January 2013
The New York Common scandal will tar the reputation of placement agents unless market participants disseminate and enforce a clear distinction between valuable fundraising services and sleazy influence peddling, writes David Snow.
3 min read · 21 January 2013
LaSalle Investment Management has poached Chris Martin from Australian property Group GPT to become head of asset management.
1 min read · 21 January 2013
Counterparties to the largest long-term lease of an airport in US history agreed not to extend a deadline for financial close. A Citi-led consortium secured debt for the deal but fell short in raising more equity for the upfront fee. Chicago intends to rebid the airport.
3 min read · 21 January 2013
Andrew Cuomo, the attorney general of New York, has accused a former political leader of collecting $800,000 in sham finder’s fees for directing pension investments to two private equity firms.
3 min read · 21 January 2013
The $1.9bn listed joint venture between Macquarie and Developers Diversfied Realty is selling roughly two-thirds of its shopping centre assets as the company struggles amid a declining retail market.
1 min read · 21 January 2013
