A California bill that would require placement agents to take flat fees for fundraising services failed to pass a committee Wednesday, prompting key state officials to threaten a push for a full ban on placement agents.
The Port of Virginia has reached ‘an agreement in principle’ to lease a terminal from APM Terminals for 20 years. Officials had previously indicated that once that deal was agreed, the state would move forward with the evaluation of business proposals from Carlyle, Goldman Sachs and CenterPoint Properties.
The placement agent has denied he 'gave, accepted and failed to disclose gifts' to senior pension executives.
Leon Shahinian, the 12-year pension veteran described as ‘honest’, has been placed on leave amid a burgeoning pension scandal in California.
Placement agent Alfred Villalobos is facing a civil suit, while the head of the pension’s alternatives programme has been placed on leave.
The attorney general of California today filed a civil suit against placement agent Alfred Villalobos and a former CalPERS board member. In addition, the head of the pension’s giant alternative investment programme has been placed on administrative leave.
Earth Capital Partners has launched its Forestry Fund I targeting 12% IRRs through the acquisition of established plantations and agricultural land ripe for planting in Brazil and other Latin America countries.
The real estate placement group lost a raft of personnel last month but the group insists they will ‘surprise [the] skeptics out there’, warning ‘we are in this for the long-term’.
The vice president of Canadian pension Ontario Municipal Employees Retirement System Philip Haggerty said there is a need for American institutions to make large real estate and infrastructure investments directly, and that Canada is ‘opening the door for partnership’.
The pension’s CIO Joseph Dear said LPs that can 'stick together' in the face of GP opposition will be able to win more LP-friendly terms.
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