Perella Weinberg Partners

The financial services firm is targeting $400m for its debut private equity fund and has already completed two investments.

The firm will generate more than a 2x return multiple on its investment in railcar leasing company Flagship Rail services.

The financial services firm is targeting $400m for its debut private equity fund and has already completed two investments.

First time's a charm

The investment bank is gearing to close its first pan-European property fund, looking to raise 1bn.

Former UTIMCO chief investment officer Bob Boldt will lead the new asset management division at the financial services firm.

French property executive Leon Bressler will join the investment bank as a London-based partner to oversee its real estate activities.

Former Morgan Stanley banker Joseph Perella formally opened his new firm today, Perella Weinberg Partners, and announced a $100 million injection of capital from Dubai-based Istithmar PJSC.

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The deal will allow Oaktree to operate independently, though Brookfield intends to build up its stake.

The firm’s co-head of US buyout, Sandra Horbach, said LPs are showing strong preference for funds focused on ESG and other factors – prioritising this even over high returns.

Seventy-seven endowments, foundations, asset managers and non-profits launched the Intentional Endowments Network meant to support ESG investing.

The firm has agreed the sale of fashion brand Valentino to a Qatari investment group for about €700m, as it raises its fifth buyout fund, which is targeting €6.5bn and is yet to hold a first close.

Experts predict a new order of private equity real estate firms will emerge in Europe as new entrants compete against established firms. But we will have to be patient before discovering just who the winners and losers are. By Robin Marriott

Mount Kellett Capital Management, the global private equity firm started by Mark 'Goldfinger' McGoldrick in 2008, has hired James MacNamara in London.

The parent company of Istithmar – the private equity platform that owns stakes in Barneys New York, Cirque du Soleil and hedge fund operator GLG Partners – has asked creditors to accept a standstill on its $60bn of debt.