Deals

Fortress forgoes dividend to target financial services

Founder Wesley Edens has said the firm will not pay a third quarter dividend in order to retain capital for ‘tremendous opportunities’ in banks, insurance companies and other asset management businesses.

New Zealand private equity activity suffers steep drop

Private equity investments in New Zealand fell by more than 90 percent in the first half of 2008, compared to the same period last year.

Report: WaMu seeks private equity buyers

The ailing savings and loan had previously sought to be taken over by banking giants JPMorgan and Citi, but as such talks have not yet resulted in any deal, the bank is reportedly seeking a deal with Blackstone or Carlyle.

RE execs say resolute action needed in US(3)

The US industry body, the Real Estate Roundtable, said the US government’s $700bn plan to buy-up troubled mortgage-related assets had a high ‘price tag,’ but argued that it was the best way forward.

US hotel market to hit bottom in 2009(3)

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.

Flowers to buy $14m Missouri bank in his own name(2)

JC Flowers' founder may use the First National Bank of Cainesville as a platform acquisition for other distressed and failed deposit-taking institutions, according to a regulatory filing.

US hotel market to hit bottom in 2009(2)

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.

RE execs say resolute action needed in US(2)

The US industry body, the Real Estate Roundtable, said the US government’s $700bn plan to buy-up troubled mortgage-related assets had a high ‘price tag,’ but argued that it was the best way forward.

GIC to shift sights to private equity(2)

Singapore’s largest sovereign fund has increased its investments in private equity and real estate in recent years – a trend likely to continue owing to the turmoil in the financial markets. The change was revealed as part of its first performance report, which also shed rare light into the GIC’s structure.

Distress in US homebuilding leads to negative land values

Sacramento, California-based private equity firm Dunmore Capital says finished lots in parts of the US are now selling for steep discounts. Founder Sid Dunmore warns there is more pain ahead for developers.