Zoe Hughes
The private equity firm is reportedly at odds with the German government over how to rescue stricken commercial real estate lender Hypo. JC Flowers and Grove International invested €1.1bn for a 24% stake in the bank in June.
The $28bn Alaska Permanent Fund says it's a 'difficult time to be an investor' as it saw heavy losses in the public real estate markets in 2008. Overall, Alaska’s real estate portfolio lost around 8% of its value, with its REIT investments falling almost 50%.
The German commercial real estate lender, partially owned by private equity firms JC Flowers and Grove International, has drawn down on €42bn of guarantees from the German government.
President and chief executive of Allianz Real Estate Olivier Piani says it is the ‘best time’ to be growing a global organisation. The insurance company expects to grow its allocation to RE to 6% 'and maybe more', with up to a third focused on the US and Asia respectively.
The $35bn United Nations Joint Staff Pension Fund will start investing in funds of hedge funds and private equity. It will also expand its real estate portfolio, currently valued at around $1.8bn, to include infrastructure, agricultural land and timberland.
The asset management arm of the German insurance firm has appointed Stefan Brendgen as its chairman and CIO with effect from next year. The move will release current CEO Karl Ralf Jung to return full time to managing Allianz’s private equity, real estate and infrastructure investments.
The German commercial real estate lender, partially owned by private equity firms JC Flowers and Grove International, has secured another liquidity guarantee from the government, on top of the €20bn already promised.
The former private equity chief at Starr, Collin Lau, has reportedly joined China’s sovereign wealth fund to head its real estate investment funds. He is expected to join the fund by the end of the year or early 2009.
Robert Bertram will step down from the C$108.5bn pension fund at the end of 2008, to be replaced by current senior VP Neil Petroff. Bertram led Ontario’s purchase in 2000 of the real estate operating company, Cadillac Fairview, which now evaluates all of OTPP's real estate investments.
The £15bn UK charity is particularly interested in direct secondary deals as it manages and rebalances its alternatives portfolio, Peter Pereira Gray, Wellcome deputy chief investment officer, said at the PERE Forum in New York yesterday.