Investors

The West coast debt shop has garnered $420m in commitments from LPs for its latest vehicle, the Mesa West Real Estate Income Fund II. It will continue fundraising until the end of the year, PERE has learnt.

One of the largest private equity real estate platforms in the world will become independent of its bankrupt parent company, PERE has learned. The spin-out will include Mark Walsh, instrumental in steering Lehman’s overall real estate strategy for more than 20 years.

Walnut Creek, California-based Sequoia Equities will target high-net-individuals as it looks to raise $100m for buying distressed construction and development loans.

Lending by active financial institutions declined by $15bn between 2007 and 2008, according to Cushman & Wakefield Sonnenblick Goldman. Life companies have moved to fill some of the capital void but their 2009 originations will be 20% down on 2008 levels.

The listed property vehicle has acquired a distribution unit in England for £19 million.

Denmark’s largest pension fund is to planning to mitigate future risk by committing its equity in smaller portions to more smaller funds as well as participating in “club style” investments. These themes were also voiced at this week’s PERE Forum: Europe in London.

As the balance of power swings from GPs to limited partners, fund managers in New York today predicted investors would call for shorter investment periods for PERE funds in a bid to boost their liquidity. In the search for capital sources though, GPs were advised to watch super and high-net-worth individuals "closely".

One month after disposing of its Tokyo headquarters in a $1.2bn sale to Japanese insurer Nippon Life, AIG has agreed to sell its Manhattan headquarters to a consortium including Korea’s Kumho Investment Bank.

As some US public pensions move to ban the use of placement agents, Mike Travaglini, the executive director of the $38bn Massachusetts PRIM, warned agents play a vital role in helping his small staff identify private equity and real estate opportunities.

The $22bn state workers' pension fund lost 14.8% on its real estate portfolio in the fourth quarter of 2008, and 16.5% on private equity during the same period.