Managers

The Los Angeles-based fund tied to basketball legend Magic Johnson, Canyon-Johnson Urban Fund, has closed its third vehicle on $1 billion saying its strategy of revitalizing urban neighborhoods across the US is a proven success.

The fund has closed at $1.2 billion, having attracted 16 LPs in Europe, North America, Asia and the Middle East.

Cordea Savills, the international property fund manager, intends to launch a Turkish opportunistic vehicle to capture mainly retail and residential development projects.

A fund established by US hedge fund Fursa, Indian infrastructure financing company SREI and Indian holding company Prima Donna will be led by Sanjiv Gupta, former Coca-Cola India CEO.

The open-ended core European vehicle, Encore+, has made €800 million ($1.2 billion) of acquisitions since launching in June 2006.

The fund’s manager NextEnergy Capital, a renewable energy-focussed merchant bank, is looking to use abundant leverage available for clean energy infrastructure projects.

The Australian private equity firm is buying five family-run businesses in one platform investment, and is planning to raise A$600m for its third fund.

Chief executive Stephen Schwarzman says sovereign wealth funds are being made to feel unwanted in the West amid intense scrutiny of their activities. It could, he warns, have a ‘chilling effect’ on their desire to invest.

The Cincinnati-based real estate investment firm says distressed neighborhood shopping centers are proving an attractive niche market despite the general economic downturn.

The Middle Eastern firm takes steps to establish its presence in Asia with the launch of a China-focussed fund in association with a Chinese investment firm.