News & Analysis

China’s $200bn sovereign wealth fund has said that it will not pump money into troubled western financial institutions citing a lack of ‘sincere cooperation’ on the part of the US government.

Marc Dreier, the founder of New York law firm Dreier, has admitted to key aspects of a plan to sell $113m in fake promissory notes, including notes from a real estate developer. Around $100m of the proceeds are still unaccounted for.

As real estate markets globally start the process of deleveraging and repricing, private equity real estate veterans in Canada say the country is well placed to handle the downturn – but warn deal flow is off at least 40% over the past year, with cap rates up at least 1%.

The San Mateo, California-based financial group, which manages value-added and opportunistic real estate funds, applies for bank holding status as it seeks a capital infusion from the US government.

The San Francisco-based real estate secondaries firm has appointed former SL Green/Gramercy Capital executive as LPs increasingly look to liquidate some of their real estate positions. The appointment comes as Liquid works with LPs faced with capital calls in excess of their distributions.

Investcorp has become the latest firm to take cost-cutting measures as it plans to lose 90 staff across its real estate, private equity, hedge fund and technology businesses. Earlier this week the firm invested in UK debt management company TDX Group.

The Indian private equity firm is also reportedly on the verge of making a first close on its $800m Asian infrastructure growth fund.

Shopping centres and commercial property in the UK will plummet in development volume and value, according to CBRE and RICS. The amount of retail space being developed has fallen 40% in the past year, the fastest rate of decline since the 1990s.

The private equity firm, formerly called Joseph Littlejohn & Levy, holds a 30% stake in the Canadian company.

Two unnamed European pensions have committed funds to the Luxemburg-based investment manager.