Blackstone related stories
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Tulane eyes new fund commitments in 2011Tulane University’s $1bn endowment says the financial downturn has provided access to funds that would have been closed to the endowment pre-meltdown, as it looks to invest in up to 10 new PE and RE managers in the coming year.
- Shanghai chips away at PE currency barrier
A pilot scheme would allow the conversion of up to 50% of an RMB fund from foreign currency, removing a huge hurdle facing foreign investors seeking access to China's private equity market.
- Starwood makes ‘better’ offer for Extended Stay
A Starwood Capital-led consortium has reportedly made a ‘better’ offer than rival Centerbridge Partners and Paulson & Co. for the bankrupt hotel operator. Starwood’s bid was delivered Monday, the last day to submit competing bids.
- Starwood close to deal for Extended Stay
A Starwood Capital-led consortium is reportedly nearing a deal to receive $2.2bn in financing from Goldman Sachs for a bid to acquire bankrupt hotel chain Extended Stay.
- Simon bows out of GGP bid
The US REIT has withdrawn its acquisition and recapitalisation proposals for bankrupt mall REIT General Growth Properties, alleging the firm ‘hastily’ decided to transfer hundreds of millions of dollars of value to the Brookfield-led consortium plan.
- Blackstone closes $320M deal for two shopping malls
The Blackstone Group has bought a 60% stake in two shopping centres in Portland, Oregon and Tampa, Florida, from US REIT Glimcher Realty.
- Blackstone joins bid for US hotel chain
The private equity and real estate giant has reportedly teamed up with a group of investors, led by Centerbridge Partners and Paulson & Co., in a $905m bid for bankrupt hotel chain Extended Stay.
- Tishman restructures $175m Seattle office debt
The firm will invest a reported $15m of new capital into an office complex located in the heart of downtown Seattle to ensure ‘a firm financial footing’ until 2017 when the debt is set to mature.
- Moody’s: Harrah’s not ‘out of the woods’
Apollo and TPG Capital-backed Harrah’s, loaded with $22bn of debt from its $27bn buyout in 2008, has eased its debt burden through recent refinancings but has not solved its problems, according to Moody's.
- Blackstone’s GSO fund closes on $3.2bn
The latest fund from Blackstone's credit-focused affiliate has already invested roughly $600m in seven different companies.