Amanda Janis
IDeA Alternative Investments has appointed as chairman Lino Benassi, whose chairmanships currently include Banca Italease and Credit Suisse Italy. IDeA plans to augment its private equity fund products with special situation, hedge, real estate and mezzanine products as well as to launch alternative investment firms in Southern Europe.
Julio Ramirez, who left Blackstone-affiliated placement agent Park Hill in March, has reportedly pleaded guilty to securities fraud. The allegations stem from the time Ramirez was employed by Wetherly Capital, prior to joining Park Hill; Blackstone says its internal investigation revealed no misconduct at Park Hill.
LPs must seize current market conditions as a chance to push back on terms and secure better alignment of interests, Joe Dear said at a conference in LA. Fellow panelist Harold Bradley, CIO of the Ewing Marion Kauffman Foundation, lamented 'we are feeding a fee machine'.
PERE’s parent has been recognised in the prestigious awards’ international trade category. London-based PEI Media now has customers in 80-plus countries and has more than doubled its overseas revenues in the past three years.
Sam Zell has said he'd been too optimistic about the Chicago-based media company, which in December collapsed under a $13bn debt load. Zell stressed the need to find a new business model for newspapers, likening a potential Tribune merger to asking another company if it wants to 'get vaccinated with a live virus'.
The Swiss alternatives firm plans to augment its fund of funds platform by assuming management of HRJ’s $2bn in assets. The US fund of funds was reportedly burned by its over-commitment strategy last year, causing it to breach debt covenants and seek stake sales for uncalled commitments.
Fortress has attributed its $162m loss last year to non-cash adjustments for fair value write-downs and clawback reserves. But the firm remained upbeat on an analyst call, with chief executive Wes Edens forecasting an opportunity-laden ‘great liquidation’ of financial services assets following the current recession.
Fresh from raising nearly €1bn for its eighth mid-cap fund, the French private equity firm is aligning itself to take advantage of market dislocation. It is also raising its third small-cap fund.
Réal Desrochers has ended his 11-year reign as the director of alternative investments at the US' second largest public pension, leaving veteran portfolio managers Margot Wirth and Seth Hall as interim co-directors. Desrochers did not disclose future professional plans in a farewell email sent to friends and colleagues.
The Dubai-based investment bank says it will avoid regulatory conflicts from a dual listing, as well as boost liquidity and trading volume by remaining traded only in Dubai.