April 2009 Issue

    Month: April
    Year: 2009

    Back to Print Editions

    INTELLECTUAL PROPERTY: David vs. Goliath

    In the battle to attract LP capital commitments, large and small funds alike are offering a range of concessions. PERE Magazine, April 2009 issue

    FEATURE: Who's lending now?

    When private equity real estate firms previously considered debt origination they were primarily focused on mezzanine financing. However, increasingly attractive returns for senior positions are enticing some to climb further up the capital stack. PERE Magazine, April 2009 issue

    FEATURE: Fortress' slippery slope

    The alternative investment giant faces a slalom course of hazards from a 2006 Canadian ski resort investment and other boom-era real estate deals. PERE Magazine, April 2009 issue

    FEATURE: Dispatches from la Jetee

    Last month, the PERE team descended on Cannes for MIPIM, the world's largest property event. While attendance figures were down by more than a third, the 18,000 delegates officially recorded by organiser Reed MIDEM ensured the biggest rumour mill in property kept turning. Robin Marriott and Jonathan Brasse overheard truths and half-truths and observed scenes that spoke volumes about the state of the real estate market today. Here are four notable impressions. PERE Magazine, April 2009 issue

    EUROPE NEWS: Secondaries sale at Immofinanz

    The Austrian firm, which has been selling direct property investments in recent times, is now closing on a large portfolio of private equity real estate fund secondaries interests. PERE Magazine, April 2009 issue

    EUROPE NEWS: Flowers fights on

    The investment by JC Flowers, Grove International and Shinsei Bank in Hypo Real Estate is being billed as disastrous. Nevertheless, in Germany, Christopher Flowers is not yet down for the count. PERE Magazine, April 2009 issue

    EURO ZONE: More power to INREV

    As investors prepare to jet to Athens this month for the annual INREV conference, they do so knowing that the organisation is becoming more independent. This is a good thing when it comes to benchmarking funds' performance. PERE Magazine, April 2009 issue

    BLUEPRINT: The house that Jack built

    Jack Chandler spent nearly a decade in Asia for global fund management firm LaSalle Investment Management, building a $12bn business with more than 200 staff across six offices. He's not done building. Chandler spoke recently with PERE about his ambitions in the region, why he's not convinced on India and the importance of selling the merits of a deal before the elevator reaches the ground floor. PERE Magazine, April 2009 issue

    ASIA NEWS: Wong's bold position

    In Wilfred Wong, Pacific Star has appointed a man with access to Chinese investors looking to invest outside of the country. PERE Magazine, April 2009 issue

    ASIA NEWS: Pendulum power

    Vietnam's VinaCapital could offer more incentives to LPs as it launches its second country-focused fund. PERE Magazine, April 2009 issue

    ASIA NEWS: Foot in Japan's door

    By investing JPY4.5bn into Japanese real estate fund manager Secured Capital, Pacific Alliance says it has killed two birds with one stone: boosting the GP's balance sheet and giving Pacific a foot in the door of the Japanese investment world. PERE Magazine, April 2009 issue

    AMERICAS NEWS: Pastures new

    Jeffrey Kaplan has left Westbrook Partners after 13 years with the New York-based firm to set up a new venture, Meadow Partners. PERE Magazine, April 2009 issue

    AMERICAS NEWS: Dim view on blind pools

    As LPs search for greater control over their investment portfolios, General Equity Real Estate believes programmatic joint ventures could be the way of the foreseeable future. PERE Magazine, April 2009 issue

    AMERICAS NEWS: Forcible closure

    New York's newest Hilton Garden Inn has opened its doors, purchased by RLJ Development for a reduced price. PERE Magazine, April 2009 issue

    AMERICAS NEWS: Bigger in Texas

    The Teacher Retirement System of Texas is set to commit an additional $2bn in capital to real estate, and 'emerging managers' will be among the beneficiaries. PERE Magazine, April 2009 issue

    EUROPE NEWS: Forum hires Cazenove veteran

    Forum Partners Investment Management has recently taken on a heavy-hitting investment banker from JPMorgan Cazenove. Richard Cotton, who has spent 23 years at Cazenove, is joining Forum in its London office from June. The appointment comes shortly after the close of the firm's third European vehicle, Forum European Realty Income III, which garnered €443 million […]

    DECONSTRUCTED: Watergate liquidity

    An iconic office-residential complex in Washington DC is for sale. PERE Magazine, April 2009 issue

    DECONSTRUCTED: 'Default? I want cleaner windows'

    London mayor Boris Johnson on the default of his landlord. PERE Magazine, April 2009 issue

    ASIA VIEW: Korea's open door

    On 6 March, Japanese private equity fund Vana World was reported to have signed a preliminary agreement to invest $3 billion into a free economic zone west of Seoul. Brasse The deal, which was brought to light by Korea's Yonhap News Agency, was immediately championed on the websites of the Korean inward investment agency, Invest […]