David Snow

A 1994 RFP from the pension to invest in inner-city neighbourhoods received a single proposal – from a firm controlled by Victor MacFarlane, who has now ‘resigned’ as the manager of the closely watched California Urban Investment Partners.

Private real estate funds facing debt troubles and sunken values are eyeing a radical move – taking the portfolio public, Schecky Schechner tells the PERE CFO Forum.

Private real estate funds facing debt troubles and sunken values are eyeing a radical move – taking the portfolio public. By David Snow.

The founder of private equity advisory firm Aldus Equity, Saul Meyer, has admitted to having knowingly engaged in pay-to-play corruption in New York and New Mexico.

The drastically altered real estate opportunity requires skill sets, including restructuring and asset management, that are not sufficiently in place at many fund managers, argued participants at a roundtable discussion organised by PERE magazine.

Investor-friendly carried interest, fee, GP commitment, key man and transparency terms are promoted in a new set of ‘Private Equity Principles’ from the trade association for limited partners. Will real estate follow suit?

PERE Magazine September 2009

Roughly 35% percent or more of capital raised by placement agents comes from US public pensions, according to a veteran fundraiser, and an SEC proposal to ban placement/pension interaction could threaten the third-party fundraising business model.

The California pension giant will formalise the central role of fair value accounting in its real estate portfolio and will require external fund managers to comply with these standards.

The private equity firms have invested a fresh $43m in Gilt Groupe, known for online ‘sample sales’ of high-end consumer items.