The JE Robert Companies-managed REIT, JER Investors Trust, will move to over-the-counter trading after failing to maintain a market cap of more than $15 million.
1 min read · 21 January 2013
The Banyan Tree-Philippines Hospitality Fund will cover the development costs of two integrated island resorts in the country, one of which will cost more than $200m. The vehicle will allow the firm to get a 'foothold' in the country's growing tourism industry.
2 min read · 21 January 2013
The US government's moves to gain greater regulatory control over large financial instutions would obligate some private equity firms to register with the SEC and supply data including the names of LPs and leverage levels on deals.
3 min read · 21 January 2013
Songbird Estates, a property company backed by Morgan Stanley Real Estate Funds, unveiled £1.8bn annual losses today and said there was a ‘material risk’ of breaching banking covenants within the next 12 months. It has appointed UK bank Rothschild to advise on funding options.
1 min read · 21 January 2013
The private equity firm will sell off one of the Australian company's subsidiaries, reported to be its oncology and cardiology diagnostics business, which could fetch up to A$210m. CVC Asia Pacific bought I-Med's parent in an A$2.7bn deal in 2006.
2 min read · 21 January 2013
In a story dated 20 March, PERE reported that David Loglisci and Henry Morris, a former political advisor to the US public pension, allegedly extracted sham ‘finder’s fees’ from various private equity and hedge funds, including a vehicle run by Paladin. The story should have read Paladin Capital Group.
4 min read · 21 January 2013
The distressed investment specialist is surrendering all its stock in Thornburg Mortgage and has resigned its board seats. The residential mortgage lender has been given a grace period by lenders to come up with a restructuring plan.
2 min read · 21 January 2013
The US' Financial Accounting Standards Board has released a list of seven indicators of inactive markets, and given firms the green light to use their own valuation methodologies when quoted prices are unreliable.
2 min read · 21 January 2013
David Loglisci and Henry Morris, a former political advisor to the US public pension, allegedly extracted sham ‘finder’s fees’ from private equity and hedge funds including Carlyle, Riverstone, Aldus, Falconhead, Odyssey, Access Capital, GKM Newport, Paladin Capital Group, Pequot and PCG.
4 min read · 21 January 2013
Even if its satellite entities carry on, Babcock’s going into administration signals the firm’s official demise as a major force in infrastructure finance, writes Cezary Podkul.
2 min read · 21 January 2013
