Managers

US firm Prudential Real Estate Investors (PREI) has expanded its investment relationship with partner Beekman Helix India Partners by establishing a joint private equity real estate platform, Pramerica BHI India.

A second report this month has suggested there is continued appetite for Asia real estate but that tougher financing conditions prevail amid the credit crunch.

US House Ways and Means Committee chairman Charles Rangel has again introduced a bill that would attempt to tax carried interest as personal income after dropping an identical provision last December.

The Chicago-based real estate investment firm has closed its LaSalle Income and Growth Fund V, a value-added fund targeting US properties affected by the capital market dislocation.

New York hotel group, Morgans Hotel, is the newest partner in a JV between private equity real estate firm Normandy Real Estate Partners and Ames Hotel Partners to redevelop Boston’s first skyscraper into a boutique hotel.

Anthony Heredia, a former HSBC Asset Management pro, has been appointed the new CEO for Morgan Stanley Investment Management in India.

Orco Property Group, the listed company that concentrates on real estate investments in Central Europe and parts of Eastern Europe, is downgrading its growth forecast for the Endurance Fund after feeling the effects of the credit crunch.

London private equity real estate firm Europa Capital has closed two vehicles giving it €2.5 billion of acquisition firepower to capitalize on 'difficult and volatile credit conditions.'

The London-based real estate investment firm has closed its latest Asia real estate fund, MGPA Asia III, on $3.9bn. Combined with the firm’s latest European vehicle, which also closed today on $1.3bn, MGPA has secured $5.2bn in capital commitments for its latest offering.

The quoted infrastructure manager has raised £340m in equity and debt to fund its future infrastructure acquisitions, as it delivers ahead of initial return targets and looks to capitalize on market distress.