Managers

Musician Bob Geldof is working with former Doughty Hanson senior principal Mark Florman in the development of an Africa-focused fund.

IR veteran Maryfrances Metrick will join the Blackstone spinout in October amid fundraising for the firm’s second fund, targeting $3.75bn.

The Hong Kong-based private equity real estate, founded by brothers Goodwin and Kenneth Gaw in 2005, says it will ‘steer clear’ of tier one cities in China and primarily target second and third tier cities instead.

PREI was one of four real estate firms seeking to raise $1.3bn from Mexican pensions via the country’s stock exchange.

The Canadian pension and Australian sovereign wealth fund have injected A$375m each into recapitalising Colonial First State’s open unlisted retail vehicle, after original investors called it a day at the expiration of the fund.

TPG will join the ranks of other Western firms raising RMB-denominated funds, including Carlyle, KKR and Blackstone. Read more about TPG in the forthcoming issue of PERE.

The fund managers have raised more than $100m each from investors to recapitalise Stockbridge’s $1bn Fund II and RREEF’s $1.6bn Global Opportunities Fund II. The rescue capital comes through two different structures: a preferred equity infusion and a new debt facility.

There was just one opportunistic real estate fund targeting more than $1 billion in equity commitments in the first six months of 2010, in a sign the industry is scaling down its fundraising efforts.

Parsippany-based Pramerica Real Estate Investors and London-based Rockspring Property Investment Managers become the latest beneficiaries of the National Pension Service of Korea’s desire to increase its exposure to alternative assets.

An index unveiled by property services firm DTZ suggests North America represents the most attractive opportunity to investors, followed by Asia Pacific, then Europe