News & Analysis

The sale of the power company comes a week after Temasek said it had scrapped the auction, citing unfavourable market conditions. It has now sold all three of its power companies in 2008 for a sum of S$11.7bn.

The publicly traded mid-market and mezzanine firm has said it will also close two offices and implement ‘internal cost saving steps’ as it re-sizes its operations to coincide with lower business volume. 3i is reportedly cutting 15% of its staff.

The German retail property investment company has cut all ties to its former parent company changing its name to Treveria. It also has taken all asset management in-house, saying was time for Treveria to ‘focus on prudent cash management’ as it nears the upper limits of its LTV covenants.

Chicago mayor Richard Daley has approved the bid from the investment bank’s infrastructure group to operate the city’s 36,000 metered parking spaces. The bid, if given approval by city council, would be the first long-term privatisation of a major metropolitan parking system in the US.

The global buyout firm will eliminate 100 of its 1,000 employees as the firm tries to adjust to contractions in global financial markets. It will also shut its Menlo Park office.

First Atlantic Real Estate has sold two office properties in the Italian capital from its listed closed-ended fund, Berenice. The firm was taken over by private equity fund manager DeA Capital last summer, as it sought to expand into real estate.

The Marshall Real Estate Management Fund will target distressed late-stage construction projects and real estate in Moscow. The firm said assets were trading at 'considerable discount' thanks to the credit crunch.

The real estate management subsidiary of BNP Paribas Real Estate now has more than 25m square metres of commercial real estate under management in Europe.

The largest telephone carrier in Hawaii cited a heavy debt load, increased competition and market turmoil as reasons to seek protection under Chapter 11 while it restructures its business.

The Chinese sovereiegn fund has reportedly hired Zhou Yuan, former China head of global investment bank UBS.