The real estate buyout arm of Lehman Brothers, Lehman Brothers Private Equity Real Estate, has attracted more than 100 expressions of interest for its fund positions and the group operations. Lehman is running a formal bidding process to assess options for the divison. An announcement is expected in Q1.
2 min read · 05 January 2013
The French private equity firm has written down to zero its €144m investment in the Las Vegas casino operator. It has also written down other investments with Colony Capital, including in the firm’s Colyzeo II fund.
2 min read · 05 January 2013
Colony and the casino company’s main backers are planning to inject an extra $244m into the gaming operator as it struggles with its debt load. Station, which missed a debt interest payment today, revealed Chapter 11 could be part of its restructuring plan.
2 min read · 05 January 2013
The $29bn oil and gas endowment plans to allocate 18% to a new real assets category, including real estate, infrastructure and Treasury inflation-protected securities. The target allocation to real estate is expected to increase 2%.
2 min read · 05 January 2013
Former REIT veterans Robert Solmson and Ed Ansbro have teamed up Georgica Advisors founder Richard Reiss to launch private equity real estate firm, Fairwood Capital. The first fund will target hospitality in US metropolitan areas.
1 min read · 05 January 2013
A report by consultants PKF reveals declining demand and increasing supply will result in two years of decline for the hotel sector – the first time in two decades.
2 min read · 05 January 2013
Cerberus expects to make a 100% recovery on the secured $700m loan. The hotel group was acquired by an investor group led by private equity real estate firm Lightstone Group in June 2007 for $7.4bn. There are no plans to close or sell the hotels.
2 min read · 05 January 2013
The $22bn state workers' pension fund lost 16.5% on its private equity portfolio in the fourth quarter of 2008, along with fourth quarter drops of 13.1% in venture capital and 14.8% in real estate.
1 min read · 05 January 2013
The US investment fund has reportedly outbid Goldman Sachs and Oaktree Capital Management for the chance to rescue Japanese real estate investment trust, New City Residence Investment Corp.
1 min read · 05 January 2013
Shareholders of the troubled German lender yesterday approved a government plan to nationalise the bank; JC Flowers has said it may take legal action to safeguard its investment.
2 min read · 05 January 2013
