The New York private equity real estate firm discontinued its legal claim to buy the freehold of the central London residential complex owing to falling property prices. Sources told PERE the firm may launch another bid when conditions are “more favourable”.
2 min read · 21 January 2013
David Moffett has stepped down after six months leaving the US mortgage giant scrambling for an interim replacement. Freddie Mac plans to request more than $30bn in additional capital from the US government after announcing its fourth quarter losses.
1 min read · 21 January 2013
The former global co-head of asset management for Lehman Brothers private equity real estate, John McCarthy, has left to join Barry Sternlicht’s Starwood. Jeffrey Disher steps down as head of asset management to return to his earlier role leading Starwood’s acquisitions team.
1 min read · 21 January 2013
US firms that live in fear of registering as an investment advisor may find that it's not as painful as they thought – provided they are well prepared for random audits
4 min read · 21 January 2013
President Obama included language in his budget released yesterday that would tax carried interest as income at 39.6 percent. In other regulatory news, a bill in Congress would also require all advisors to private equity funds to register with the SEC.
3 min read · 21 January 2013
New York firm SecondMarket says it has attracted more than $500m worth of secondaries for its new LP fund interest trading platform.
2 min read · 21 January 2013
Europe’s private equity industry has submitted a 300-page document to the European Parliament to begin a debate on industry regulation without ‘political colour’. An enforced code of conduct has become a necessary step, according to EVCA secretary general Javier Echarri.
3 min read · 21 January 2013
The $500m private equity fund will support the development of transport, energy and other infrastructure projects in the Latin American country. Ashmore, local partner Inverlink and technical adviser Macquarie have agreed to invest in the fund.
1 min read · 21 January 2013
The debt-laden REIT says it is examining its future, including potential bankruptcy protection, as it struggles to refinance billions of debt in a stalled refinancing market. The REIT is reportedly in default on loans secured by two malls in Las Vegas, including the Fashion Show Mall.
2 min read · 21 January 2013
The real estate investment trust arm of JE Robert Companies has undertaken a 1-for 10 reverse stock split after its average share price dipped below $1 in violation of the New York Stock Exchange’s listing requirements.
1 min read · 21 January 2013
