June 2009 Issue

    Month: June
    Year: 2009

    Back to Print Editions


    GPs are considering raising a parallel separate account and commingled fund to overcome alignment of interest issues among their largest and smallest LPs. It could make the situation even worse. PERE magazine June 2010

    INTELLECTUAL PROPERTY: Overseas competition

    Interest by foreign investors in US real estate, particularly from German property funds, is bringing greater competition to the market. PERE June 2009

    FEATURE: Keeping the lights on

    For many months before the US became gripped by the unfolding scandal involving disreputable fundraising go-betweens, the most reputable placement agents have been working to adapt their model. Here, PERE takes a look at the wider issues affecting the industry. PERE June 2009

    FEATURE: Down for the count

    Fourth quarter write-downs for private equity real estate funds are averaging 25 percent as GPs finally begin marking down their portfolios. This may only be the beginning. PERE June 2009

    FEATURE: Greening the returns

    Green real estate investing has been overtaken as the strategy du jour by distressed opportunities. However private equity real estate GPs who ignore the shift towards greater sustainability do so at their own peril. PERE June 2009

    EUROZONE: IPO, the easy way

    Managing a private fund has gotten so tricky that one UK property company has gone public to avoid the headaches of dealing with LPs. PERE June 2009

    EUROPE NEWS: Contrarian Colony

    Colony is doing the unconventional again – considering an investment in a troubled developer in a part of Europe that has just posted its first fall in real estate markets in 10 years. PERE June 2009

    EUROPE NEWS: Brookfield's global fundraiser

    Brookfield has hired Bear Stearns' former private fund placement and advisory group global co-head Leo van den Thillart in London. PERE June 2009

    EURO NEWS: Tristan Capital launches

    A new business has been established by Ric Lewis, former chief investment officer of AEW Europe and chief executive of Curzon Global Partners. PERE June 2009

    BLUEPRINT: It's Grayken's market

    In his scant spare time, John Grayken, the founder of distressed asset 'monster' Lone Star, enjoys reading about the great men of history. With billions of dollars in distressed property and debt coming out of today's financial crisis, PERE takes a look at a highly private man perfectly positioned to benefit from the mess ... and to perhaps achieve enduring greatness himself. PERE June 2009

    ASIA VIEW: Doing it for themselves

    Sovereign wealth funds are increasingly keen to take real estate investing in-house. How viable is bypassing the GP? PERE June 2009

    ASIA NEWS: South Africa's Chinese benefits

    How China's investment in South Africa Inc. has helped sell a residential property fund to investors. PERE June 2009

    ASIA NEWS: Bombay's bursting bubble

    SUN-Apollo's entity-level investment in developer Keystone Realtors is the JV's first foray into Mumbai. The firm is still acting cautiously though. PERE June 2009

    ASIA NEWS: Aberdeen's double defence

    Aberdeen Property Investors raised just half its target for its second Asia fund of funds. The firm is now playing defence as it tries to ensure the capital is invested wisely, including keeping a 'reserve' to address future risks. PERE June 2009

    AMERICAS NEWS: Top of the rock

    Citi Property Investors has seen the departure of another seasoned professional - global head of marketing and client relations John Bottomley. Bottomley has joined New York's Rockefeller Group. PERE June 2009

    AMERICAS NEWS: Liquid goes large

    San Francisco-based Liquid Realty is targeting $800 million for its fifth vehicle. If successful the fund would be the largest-ever private equity real estate secondaries fund. PERE June 2009

    AMERICAS NEWS: High-end Sao Paulo

    GoldenTree has capitalised on the credit crisis by picking up a 50 percent stake in one of Sao Paulo's most desired addresses. PERE June 2009

    AMERICAS NEWS: Going long real estate

    John Paulson's hedge fund, Paulson & Co, has launched a residential land and distressed real estate fund, joining the ranks of investors targeting troubled property owners. PERE June 2009