The troubled private equity real estate firm has lost control of 120 Howard Street to mezzanine note holder, Prudential Real Estate Investors. PREI financed $23.2m in mezzanine loans at the time of the deal in May 2007.
2 min read · 08 February 2013
Temasek Holdings, in which Singapore’s finance ministry is the sole stakeholder, also booked a net profit of S$6bn, a threefold decrease from last year.
3 min read · 08 February 2013
The sovereign fund, whose portfolio recently recouped some of the value it had lost in the past fiscal year, has not made clear how its private equity investment strategy may shift.
2 min read · 08 February 2013
The troubled firm has now received almost $900m in proceeds from a string of exits in the last 12 months.
1 min read · 08 February 2013
A new private banking service is a vote of confidence in the asset class, writes Toby Mitchenall.
2 min read · 08 February 2013
The firm has agreed to buy up to 148 properties from Sunwest, which filed a pre-packaged Chapter 11 reorganisation plan in August. The SEC sued Sunwest for fraud in March after it almost devolved into a Ponzi scheme.
2 min read · 08 February 2013
Private Equity Manager sought out feedback from several different private equity players with regard to 'Private Equity Principles' just released by the Institutional Limited Partners Association. The LP-friendly suggested partnership terms are seen by some non-LPs as less than perfect.
9 min read · 08 February 2013
The Tokyo-based firm is looking likely to lose control over the $2.2 billion Pacific Century Place as it struggles to pay back its debt.
1 min read · 08 February 2013
The EU is still in the process of adapting its controversial Directive on Alternative Investment Fund Managers after a storm of criticism from the affected managers and plenty of disagreement among the member states. In the meantime, here is what private equity firms need to worry about in the current proposal. By Marcia MacHarg, Anthony McWhirter, Philipp von Holst and Ina Maria von Raven of Debevoise & Plimpton
8 min read · 08 February 2013
The southern US state’s first PPP has been suspended just days before the bid submission deadline for the 12 mile toll road. Officials blame the suspension on the credit crisis and the recession, which have made it difficult for several other PPP procurements to reach completion this year.
3 min read · 08 February 2013
