Eva Poon
Private equity firm MML Capital Partners and an affiliate of New York Life Insurance Company have made a $75m mezzanine investment in Yonkers Raceway, home to a 140,000-square-foot gaming facility.
The School Employees Retirement System of Ohio is committing up to $50m to Beacon Capital’s latest $6bn fund, Beacon Capital Strategic Partners VI.
Real estate, mezzanine debt and public equities are on the agenda for KKR, according to an investor presentation released in conjunction with the firm’s plans to go public.
The Indian developer has secured $300m in capital commitments from global investors for its Unitech International Real Estate Fund and is expecting to raise another $300m before the close of the year.
LaSalle Investment Management acquires three office properties in Germany as the firm continues to expand its presence in Europe. It recently opened an office in Milan and created a special situations team in Europe.
Emerging markets in Asia are very much on the private equity real estate map as fund managers channel significantly more capital to the region. The first half of 2008 saw funds target $30.4bn through dedicated Asia funds focusing on countries from China to Cambodia and India. By mid-year 2007 just $11.5bn was being raised for Asia-focused funds.
Kuwait-based Global Investment House has launched its second Shariah-compliant real estate fund targeting property investments in the Middle East.
Ernst & Young veteran Howard Roth will lead the firm’s global real estate practice, succeeding Dale Reiss who retired in June this year. The group is focusing in the near term on infrastructure, sustainable investing, the credit dislocation and new reporting standards.
The New York-based firm has closed its Apollo Value Enhancement Fund VII, bringing its value-added investment fund series to $2.7bn in total committed equity.
The Bahrain-based investment firm is investing in China’s alternative energy sector through its joint venture with India’s Tanti Group. The deal is Arcapita’s first in China.