The Mumbai-based fund manager has closed on $150 million for its latest property fund, in which 3i is a key investor. The fund will invest in Tier 1 cities in India.
1 min read · 05 January 2013
The private equity firm, who along with Grove International Partners and Shinsei Bank, invested €1.1bn for a 24% stake in the bank in June last year, said it wants to remain as shareholders for ‘good or bad’. The firm's founder told German lawmakers to seize control of the bank would be an 'extreme step'.
2 min read · 05 January 2013
Michael Sabia, the ex-CEO of BCE who worked on the failed take-private of the Canada telecoms company, has been appointed president of the C$120bn Canadian pension.
1 min read · 05 January 2013
Robert Redmond, who also advised on the private equity buyouts of First Data Corp and TXU, will join as vice chairman to build its North American operations. It comes as parent Macquarie Group initiated a second round of global staff cuts, which have hit Macquarie Capital hardest.
1 min read · 05 January 2013
The $45.4bn Pennsylvania Public School Employees Retirement System has joined New Jersey in withdrawing planned commitments to funds, including Beacon, Carlyle, Stockbridge and Mesa West.
1 min read · 05 January 2013
The private equity firm has hired the former Cohen & Steers chief investment officer James Corl to led its foray into real estate. The firm said it would look to create a real estate vehicle to target distressed investments.
2 min read · 05 January 2013
Morgan Stanley Real Estate focuses on commingled fund operation as it pulls out of the separate accounts business.
1 min read · 05 January 2013
The number of development loans written-off by banks in the US is also expected to rise sharply for the final three months of 2008. Of the estimated $60bn in outstanding construction loans as of Q4, 8.2 percent are expected to be non-accrual.
1 min read · 05 January 2013
The Tokyo-based real estate investment firm is reportedly raising a $1bn fund to take advantage of failing residential property companies. Secured Capital CIO John Paul Toppino says current conditions are similar to the financial crisis of the late 1990s.
2 min read · 05 January 2013
The private equity real estate firm, co-founded by AREA Property Partners’ Bill Mack and Lee Neibart, has parted company from the young fashion designer. NRDC bought two-thirds of the design company for around $10m in 2007.
1 min read · 05 January 2013
