Blackstone related stories
All articles and analysis
Former Park Hill exec pleads guilty in kick-back scandalJulio Ramirez, who left Blackstone-affiliated placement agent Park Hill in March, has reportedly pleaded guilty to securities fraud. The allegations stem from the time Ramirez was employed by Wetherly Capital, prior to joining Park Hill; Blackstone says its internal investigation revealed no misconduct at Park Hill.
- Topping out the 30 largest firms
Blackstone and Morgan Stanley lead the latest PERE 30 ranking. That may change in the future, though.
- Morgan Stanley projects loss for $8bn fund
Investors in Morgan Stanley’s $8bn MSREF VI International fund have been told to expect a 0.7x haircut. The firm will focus on preserving and generating liquidity, deleveraging and de-risking the portfolio and working through debt issues with lenders, LPs learned at a meeting in New York last week.
- Blackstone writes down RE portfolio by 19%
The New York-based firm reported losses of $212m on its real estate investments in Q1 and warned more write-downs should be expected in 2009. It comes as Blackstone reported overall losses of $93m for the first three months of the year.
- Keep your head while others lose theirs
April was a month of senior departures, many of whom built the platforms and raised the funds that PERE LPs find themselves committed to today. The issue has become an area of grave concern.
- Blackstone, Morgan Stanley top PERE 30
The New York-based private equity real estate firms are once again the two largest private equity real estate firms in the world. The top 30 firms raised more than $211 billion in value-added, opportunistic capital over the past five years.
- Blackstone to close European property fund in spring
The New York-based private equity real estate firm has raised €3.1bn to date for its third European vehicle, according to regulatory filings.
- FASB relaxes mark-to-market rules
New guidelines announced by the Financial Accounting Standards Board, in response to recent pressure amid increasing write-downs and stock drops, will give GPs more room to manoeuvre in pricing investments.
- To TALF or not to TALF
Will the US' Term Asset-Backed Securities Loan Facility be the kickstart the commercial real estate industry hopes it to be?
- Moody's downgrades Clear Channel debt to junk
The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.