Evelyn Lee
The hotel operator’s $1.25 billion IPO would pave the way for the New York-based private equity and real estate firm to eventually exit its single largest investment, which was made primarily on behalf of BREP VI.
The $21 billion pension plan has terminated contract negotiations with a real estate manager for the second time in just over a year.
The $161.8 billion pension plan could commit up to $200 million to its first international property vehicles in the coming year and likely would start with investment strategies targeting Asia.
The New York-based real estate placement and advisory firm has recruited Carrie Coulson, who was the last member of MVision’s former real estate-focused team to depart.
More than half of the $165.8 billion pension plan’s property allocation during the second quarter was designated for value-added and opportunistic joint ventures.
The Miami-based private equity firm, through a joint venture with local developer Grupo IGS, plans to raise its first Mexico-focused vehicle from the country’s pension plans, with an anticipated placement on the Mexican Stock Exchange in early 2014.
Sébastien Bazin, after 16 years at the Los Angeles-based private investment firm, has left to head Accor, one of Colony’s largest investments in the region. Meanwhile, the firm has appointed two of its principals to replace Bazin.
The Chicago-based private equity real estate firm has harvested about a quarter of the assets in its first Mexico fund as it prepares for its largest fundraise to date in the Latin American nation.
As part of its new fiscal year investment plan, the $40.2 billion pension system is expected to continue bulking up its property holdings, including non-core real estate, where it currently is underweighted.
Anne Pfeiffer, a 34-year veteran of the firm, is one of the top executives within the New York-based asset management firm’s 400-person global real assets team and also oversees its flagship US core real estate fund.