The private equity real estate firm with more than $3bn in dry powder has told investors they can reduce their commitments by a tenth without penalty.
Oregon Investment Council has been asked by the New York-based investment firm to invest additional equity into its Gagfah deal, as it looks to pay down debt on the German residential property company. Fortress went to its LPs rather than go to 'outside sources'.
The alternatives enthusiast 2009-02-01 Staff Writer <italic>Head office</italic>Tel: 1 203 432 0120Investments OfficeFax: 1 203 432 631455 Whitney Avenuewww.yale.eduNew HavenCT06511-2107United States of AmericaASSETS / FUNDS UNDER MANAGEMENT$17 billion as of 16 Dec 2008AMOUNT / ALLOCATION TO PRIV
Why one of the largest pensions in the US is hunting for opportunities in the secondaries and distressed markets. By ChristopherWitkowsky
The tenth largest pension fund in the US has reported a 5.6% fall in returns for real estate in 2008, but the sector still outperformed other asset classes.
The US firm wants to raise the money to help pay down debt in its German residential business, Gagfah, as well as alleviate funding issues at its other real estate investments, according to a report.
The $1.5bn pension, concerned that GPs were not ‘realistic’ during the buyout boom, will delay an initial allocation to the asset class.
The Southern California-based private equity advisor will manage AMP’s Future Directions Private Equity Fund and act as the firm’s ‘exclusive’ partner in Australia and New Zealand.
The $153bn pension allocated $200m to Bank of America for investments with emerging managers, and $350m to minority-owned Parish Capital as part of its emerging private equity managers programme.
The $28bn Alaska Permanent Fund says it's a 'difficult time to be an investor' as it saw heavy losses in the public real estate markets in 2008. Overall, Alaska’s real estate portfolio lost around 8% of its value, with its REIT investments falling almost 50%.