Fundraising

EQT, the regional buyout firm, has bought Scandic Hotels from Hilton Hotels for more than €800m.

Nikko Principal Investments has sold UK firm RoadChef to an Israeli real estate group for £375 m. Nikko had owned the motorway service station chain for nearly ten years.

As private equity funds evolve, they will increasingly need the guts to be considered sustainable companies. By Joshua Herrenkohl

As competition increases in Shanghai and Beijing, second-tier markets are the toast of China—and cities like Qingdao and Hangzhou are turning into the next hot hotel markets. By Aaron Lovell

Private equity groups are no longer buying British pubs just for economies of scale. Now, they're repositioning them to accommodate the country's changing tastes and its impending smoking ban. By Robin Marriott

For the first time, PERE commemorates the people, firms and deals that shaped the past year in the global private equity real estate industry. And what a year it was.

Citigroup Property Investors raised €1.6 billion for its debut European real estate fund last year. Here Roger Orf, who runs the firm's European arm, explains Citigroup's strategy, his 30-year career in real estate and that model train on his desk. By Robin Marriott

While the Chinese government's property policies are cause for concern, they should not—and are not—scare away investors. By Aaron Lovell

The London-based private equity firm has made nearly six times its equity on the sale of a office and retail development in Munich.

After paying £470m for the club, George Gillett and Tom Hicks are prepared to build a new stadium for Liverpool.