Real estate GPs hope to avoid new laws requiring SEC registration thanks to existing investment company rules but it could be a mixed blessing at best: unregistered funds could find it even harder to raise cash from LPs, and restrict their ability to close deals. PERE magazine October 2010 issue
It is sometimes said that chief financial officers are in charge of everything at the firm outside of deal-making. In today’s market and regulatory environment the CFO role has evolved into one of the busiest at private equity real estate firms. PERE Magazine October issue 2010
Institutional investors are expected to commit almost $4 billion of equity to the timberland asset class in 2010. From rarely featuring in investment portfolios in years gone by, timberland is becoming an increasingly attractive sector as LPs seek to diversify and green their investments. Chung Hong Fu, of Timberland Investment Resources, looks at the sector. PERE Magazine October issue 2010.
Working with Real Capital Analytics, PERE examines some of the deal highlights of 2010 and some of the trends that have emerged to date. PERE magazine October 2010 issue
PERE assesses the performance of private equity real estate investments within the portfolios of a selection of LPs and discovers sickness does not always lead to a cardiac arrest. PERE Magazine October 2010 issue
Funds are spending longer periods of time capital raising, but are raising just a fraction of the equity commitments they set out to achieve. What kind of year will 2010 be for private equity real estate funds? PERE magazine October 2010 issue
Christian Diller of Capital Dynamics and Thomas Meyer of the European Private Equity and Venture Capital Association examine how the financial crisis – and the ensuing regulatory storm – one sharpening up risk management in the industry. PERE Magazine October 2010 issue.
Four years ago, Townsend co-founder Terry Ahern feared a major fallout among real estate GPs as underwriting standards started to take a back-seat over momentum investing. As the firm reveals its latest fundraising statistics in this issue of PERE, we take an abridged look at that prescient interview with Ahern back in 2006. PERE Magazine October issue 2010.
Placement agents face a challenging future, under attack not only from one of the toughest fundraising environments ever to face the private equity real estate industry, but in the US also from regulators demanding stricter disclosure in the wake of a pay-to-play scandal. In an extract from PEI Media’s recently-published book on real estate fundraising, Christophe de Taurines, of Capital & Marketing Group, argues placement agents need to adapt if they don’t want to go the way of the dinosaurs. PERE magazine October 2010 issue
London & Stamford’s move to become a REIT and internalise management presents an interesting contrast to Vornado’s decision to raise an opportunity fund. Robin Marriott examines which strategy is better for investors. PERE Magazine October 2010 issue
The Netherlands has emerged as a more important source of capital than the UK and Germany for private real estate funds. By Lucy Scott. PERE Magazine October 2010 issue.
A Credit Suisse spin-off is to advise European investors, hoping in part that its small, confidential and conflict- free nature will help give confidence to LPs in need of advice. PERE Magazine October 2010 issue
Trust in German open-ended property funds will be tested next month when Morgan Stanley’s P2 Value fund reopens Early next month, Germany will face a test of its open-ended property fund industry when Morgan Stanley’s P2 Value funds allows investors to redeem their capital for the first time in two years. PERE Magazine October 2010 issue
Bank of America Merrill Lynch finally agreed to a management buyout of its European platform. PERE Magazine October 2010 issue
PERE caught up with Markus Meijer, the chief executive of European retail property specialist Meyer Bergman, who is close to establishing the private equity real estate platform he has strived for since co-founding the firm with his famous developer father, Ton Meijer, in 2005. PERE Magazine October 2010 issue.
Last month’s ruling by the China Insurance Regulatory Commission appears to offer a more viable exit for certain investment strategies over others. By Jonathan Brasse. PERE Magazine October issue 2010
Hong Kong’s CITIC Capital makes its retail investment debut against a backdrop of favourable government policy. PERE Magazine October issue 2010.
In hiring RREEF’s former India head, GIC has landed itself a veteran complete with relationships in place and a track record of sourcing investments. PERE Magazine October issue 2010
The Association for Investors in Non-listed Real Estate Vehicles (INREV Europe) is sending its former acting CEO Andrea Carpenter on a three month secondment to ANREV in Asia. Pushpendra Sharma spoke with Jeremy Stewardson (JS), ANREV’s Executive Director to learn why. PERE Magazine October issue 2010.
China's insurance watchdog paved the way for the country's insurers to invest in real estate. Here are bits of the CIRC’s new rules most relevant to private equity real estate. PERE Magazine October issue 2010
Snapping up structured loan portfolios from the US banking regulator is one of the most attractive real estate opportunities around today. However, only firms with muscle are able to get in on the act. PERE magazine October 2010 issue
Blackstone has had $18.7m of carried interest clawed back from two real estate funds. Rising property valuations though could see some of that money returned to the firm and its executives. PERE magazine October 2010 issue
LACERA is eyeing the private real estate debt space for the first time, but is choosing separate accounts over commingled funds to do so. PERE magazine October 2010 issue