Zoe Hughes
The New York-based private equity firm says it plans to expand the German commercial real estate lender’s operations internationally, particularly in Japan, after shareholders tendered 24.13 percent of the firm’s stocks. JC Flowers expects to meet the maximum stake of 24.9 percent once all shares are counted later this week.
Since last summer, equity sponsors and their investors have renewed their emphasis on emerging markets with vigor.
US House Ways and Means Committee chairman Charles Rangel has again introduced a bill that would attempt to tax carried interest as personal income after dropping an identical provision last December.
The Chicago-based real estate investment firm has closed its LaSalle Income and Growth Fund V, a value-added fund targeting US properties affected by the capital market dislocation.
The London-based real estate investment firm has closed its latest Asia real estate fund, MGPA Asia III, on $3.9bn. Combined with the firm’s latest European vehicle, which also closed today on $1.3bn, MGPA has secured $5.2bn in capital commitments for its latest offering.
The investment bank’s private equity real estate arm makes its largest investment in India in a joint venture with development company Unitech to build one million square feet of office space. Unitech says it is the first of many.
The quoted infrastructure manager has raised £340m in equity and debt to fund its future infrastructure acquisitions, as it delivers ahead of initial return targets and looks to capitalize on market distress.
Speaking at the PERE Forum: Europe 2008 in London Tuesday, Perella Weinberg Partners’ Leon Bressler says Europe’s core markets offer some of the best returns for private equity real estate firms but warns that larger organizations will face increased pressure from newcomers to the field.
Asda, the British supermarket chain owned by Wal-Mart, is set to sell industrial property developer Gazeley for more than £300m in a bid to focus on its core business.
The US public service union, the Service Employees International Union, has launched an international initiative to change tax laws it asserts unfairly benefit private equity firms.