Robin Marriott
The $300 billion sovereign wealth fund has set up an advisory board to play ‘devil’s advocate’ on investments In these days of risk control, it is unsurprising that a large European sovereign wealth fund has just set up an advisory board to vet property investments. PERE Magazine September 2010
TPG, formerly known as the Texas Pacific Group, is making a push into real estate using its latest private equity funds – TPG Partners V and the gargantuan TPG Partners VI, which raised $18.8 billion in 2008.
The US firm is reportedly considering a public listed entity for its Center Parcs assets in the UK to help smooth a potential majority sale to M&G Investments, the fund management group owned by British insurer Prudential
The distressed investment specialist is reportedly in talks to buy a controlling stake in troubled Irish housebuilder McInerney.
Harvard University is reportedly in advanced talks to sell underlying investments in around six US-focused real estate funds to China sovereign wealth fund, China Investment Corporation.
The Blackstone Group and joint venture partner British Land have signed a deal with existing tenant Swiss bank UBS that ensures its continued presence at their Broadgate office complex
Sonny Kalsi, John Carrafiell and Fred Schmidt, a trio of former Morgan Stanley real estate investing heads, form new property firm GreenOak Real Estate with $110m of backing from Dutch listed company, Tetragon. The firm has formed ahead of an expected surge in distressed loan disposals, fire sales, and MBS workouts.
A trio of private equity real estate firms have clubbed together to acquire a second portfolio of bank branches from Banco Bilbao Vizcaya Argentaria.
The Korea Investment Corporation has appointed Swiss-based alternatives firm Partners Group to help it invest in private real estate strategies
Pedro Aznar, a Warburg Pincus executive, is joining the new alternatives firm set up by Zoe Cruz, former co-president of Morgan Stanley.