Alison Granito

Venezuelan president Hugo Chavez recently implied that US president George Bush was the devil. But Chavez’ close ally, the mayor of Caracas, may be making even more incendiary statements, at least for golfers and real estate investors.

The partnership between NRDC and Apollo has also hired Christina Johnson, the former chief executive of Saks Fifth Avenue, in the latest example of top retail talent making the jump to private equity.

Through its new opportunity fund, the Toronto-based real estate investment firm has purchased 5.3 million square feet of space from an affiliate of JP Morgan Chase.

The partnership between the second largest pension fund in the US and the New York real estate mogul has bought a Midtown office tower for $400m.

The bid by Apollo Management and Texas Pacific for the Las Vegas-based casino giant could mark one of the year’s largest buyouts.

The hotel firm’s new fund has made its first acquisition, the Detroit Marriott Livonia, and will focus on upscale properties throughout the US.

The investment arm of the insurance giant, which has previously invested with Rockwood, will invest $60m in the Greenwich, Connecticut-based private equity real estate firm’s latest vehicle which hopes to close on $1 billion.

The Denver-based private equity real estate firm will partner with Davidson Hotel Company to acquire and complete a $23m overhaul of the 264-room Hyatt Regency, which sits on an island in Newport Harbor.

The value-added fund expects to raise between $650m and $750m in equity and command more than $2 billion in buying power.

GE’s real estate investment arm has acquired a diversified portfolio from the Dallas-based real estate investment firm’s third private equity vehicle. In a separate deal, GE has agreed to sell the retail portion to Kimco Realty for $920m.