Private Equity
The US’ second largest mall owner, burdened with $27.3bn of debt, has ‘reluctantly’ filed for Chapter 11 bankruptcy protection after unsuccessfully trying to refinance its loans out of court. The REIT has obtained $375m of DIP financing from investment firm Pershing Square to continue operations.
2 min read · 05 January 2013
As chairman of its international advisory council, Kai-Uwe Ricke will help support the UAE-headquartered firm's management team as well as finetune its structure and corporate governance. The former chief executive of Deutsche Telekom will also be a member of the firm’s private equity advisory board.
2 min read · 05 January 2013
The mid-market firm, established by Robert Bass in the 1980s, secured the backing of major pension investors for its latest investment vehicle.
1 min read · 05 January 2013
The New York State Common Retirement Fund has assets valued at $110bn, down from $154bn about a year ago, due in part to a 32.6% decline in the value of its real estate portfolio.
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
Investment staff will recommend the US pension giant increase its target allocation to private equity to 14%. It currently has 11.7% of its assets, or $21bn, invested in the asset class.
1 min read · 05 January 2013
The Lightstone-backed hospitality chain is in discussions to turn over the company to its lenders, according to a report. New Jersey-based private real estate company Lightstone acquired Extended Stay from Blackstone last year for $8bn.
2 min read · 05 January 2013
One large PIPE deal accounted for the lion’s share of private equity investment in the country, while fundraising figures underline the Chinese government’s 'robust support' for the asset class.
1 min read · 05 January 2013
Carlyle-backed education investor Apollo Global has agreed to delist BBP – a UK- and Europe-based provider of education services for lawyers, accountants and the financial services sector, which is reporting increasing revenues despite the economic downturn.
1 min read · 05 January 2013
The Teacher Retirement System of Texas is set to commit up to $2bn in capital to real estate in an effort to close the 6% gap between its actual and target allocations.
2 min read · 05 January 2013
