Private Equity
Former REIT veterans Robert Solmson and Ed Ansbro have teamed up Georgica Advisors founder Richard Reiss to launch private equity real estate firm, Fairwood Capital. The first fund will target hospitality in US metropolitan areas.
1 min read · 05 January 2013
In announcing a $30m ‘restitution’ to be paid by the private equity firm, the New York state attorney general today noted that the agreement does not include David Leuschen, one of Riverstone’s two co-founders. Cuomo promised that ‘new developments will be coming down the road’.
3 min read · 05 January 2013
The pension, with assets of $16bn as of 30 June 2008, made more than $300m of commitments in the past month, including to a debt fund from Mesa West Capital. The Mesa West fund, which is reportedly targeting up to $500m, is expected to close in the coming months, sources say.
1 min read · 05 January 2013
A report by consultants PKF reveals declining demand and increasing supply will result in two years of decline for the hotel sector – the first time in two decades.
2 min read · 05 January 2013
Losses of 19.5% in public markets and 13.7% percent in private equity were partially offset by gains of a 6% gain in real estate. The Canadian pension plan, one of the country’s largest, is now valued at C$44bn, versus C$52bn at the end of last year.
2 min read · 05 January 2013
Cerberus expects to make a 100% recovery on the secured $700m loan. The hotel group was acquired by an investor group led by private equity real estate firm Lightstone Group in June 2007 for $7.4bn. There are no plans to close or sell the hotels.
2 min read · 05 January 2013
Cerberus has forgiven a $500m loan to the US automaker to help push through a sale to Italy's Fiat, bringing the Chrysler saga nearer an end. Christopher Witkowsky explores.
3 min read · 05 January 2013
The Boston buyout firm may allow LPs in a private credit-opportunity fund to cancel participation if they agree instead to a planned $300m listed credit vehicle.
2 min read · 05 January 2013
As some US public pensions move to ban the use of placement agents, Mike Travaglini, the executive director of the $38bn Massachusetts PRIM, told PEO that these agents play a vital role in helping his small staff identify private equity opportunities.
3 min read · 05 January 2013
Goldman, Credit Suisse, UBS and Merrill Lynch are reportedly among the firms from which the US financial regulatory agency has requested information about work done in exchange for fees.
2 min read · 05 January 2013
