The US government has been urged to create a ‘bad bank’ entity, such as the Resolution Trust Corporation of the 1990s, to force banks to offload toxic real estate-related assets and free up markets.
2 min read · 05 January 2013
The former vice president of Credit Suisse’s private equity operations, James Lambright – a specialist in real estate transactions – has been named the interim CIO of the US’ $700bn asset recovery programme.
2 min read · 05 January 2013
The Teacher Retirement System of Texas has hired former Summit Properties president Steve LeBlanc to lead its real asset and private equity portfolios. Lee Partridge, the pension's strategic research managing director has been promoted to deputy chief investment officer.
2 min read · 05 January 2013
The Simsbury, Connecticut-based firm is targeting $750m for its latest real estate fund – the largest dedicated secondaries real estate vehicle ever. It comes amid a massive rise in LP demand for liquidity.
1 min read · 05 January 2013
The private equity real estate firm hires former DTZ executive to capitalize on the growing secondaries and fund of funds market in Europe.
1 min read · 05 January 2013
Gary Stevens has filed a lawsuit against the Connecticut secondaries firm claiming Landmark failed to honour a promise to give him an ‘ownership interest’ in the firm.
2 min read · 05 January 2013
The New York-based private equity firm said one-third of the private companies in its private equity portfolio faced write-downs of some kind, as president Tony James revealed a $68m Q3 private equity loss.
2 min read · 05 January 2013
The £15bn UK charity is particularly interested in direct secondary deals as it manages and rebalances its alternatives portfolio, Peter Pereira Gray, Wellcome deputy chief investment officer, said at the PERE Forum in New York yesterday.
1 min read · 05 January 2013
The specter of a return to the 1989 Resolution Trust Corporation was raised today as the US Treasury said it would introduce a ‘relief program’ for troubled mortgage assets. If formed, the program would consolidate an enormous pool of assets for opportunistic buyers to feast upon.
3 min read · 05 January 2013
The US’ largest union of long-term care workers, the Service Employees International Union, launched its ‘global day of action’ today targeting KKR, its portfolio company Toys R Us and pension funds and politicians in support of the buyout industry. Unite, the largest union in Britain, also joined the cause.
2 min read · 05 January 2013
