News & Analysis

An open-ended property fund managed by UK insurance group Aviva has been forced to suspend dealings following rapid increases in redemptions. The UK fund manager's problems mirror those of German open-ended funds.

The office markets of both cities were expected to see a short-term drop in rents, with London the harder hit of the two cities over the next two years, according to a report from CBRE Investors. Long term rental growth in both cities will be driven by supply.

When Barack Obama is sworn into the White House in 2009, private equity firms can expect some changes, among them likely increases to capital gains and carried interest taxation. However, his election also could prompt a greater willingness by overseas investors to invest in the US.

The UK private equity firm sold its stake in trucking company Transports Alloin to a Swiss logistics group that is looking to expand in France.

The private equity real estate firm – which last year took on former CalPERS Real Estate head Mike McCook as advisor – has resolved an argument with the activist shareholder of its publicly-listed fund. Trikona says opportunities in Indian real estate are to be found in ‘deep value’ not distress.

The Vietnam real estate investment firm says it plans to launch a $400m property fund at the end of January next year, according to reports, arguing the wind has been taken ‘out of the sails’ of property developers in the country.

Economic turbulence is throwing up opportunities for emerging market-focused private equity and real estate funds to make investments at favourable prices, but capital-constrained LPs are urging caution.

The fund is the GCC region’s first sharia-compliant mezzanine vehicle and will provide financing to a mixed-used development in Qatar.

China Everbright Holdings intends to establish the real estate fund before June next year, and will coinvest up to $50m. The fund will be managed by its new private equity arm, the Alam Group, which will be renamed Everbright Alam.

Lehman Brothers and Starwood Capital are putting le Méridien Hotel on London's Piccadilly on the block. The hotel was bought as part of a package of properties in 2005. Le Meridien is expected to sell for around $140m.