Jonathan Brasse
The London-based activist investor Laxey Partners is trying to oust three directors and install an independent chairman in a bid to force changes at Hirco, which develops real estate in the country.
According to the Investment Property Databank, commercial real estate values in Australia have sunk to their lowest level since 1993, thanks partly to woeful returns from the retail sector. Total returns in 2008 were just 1.8%.
Indian conglomerate Aditya Birla Management is seeking to offer its clients diversity through real estate and private equity as equities continue to perform poorly in India.
Indian AIM-listed investment and development company, Unitech Corporate Parks, has changed the terms of its agreement with its investment manager in a bid to reduce its current discount to net asset value.
Sentiment from private equity firms towards investment in India is on the wane and cyclical markets like real estate are likely to be among those most affected, delegates at a Mumbai conference heard today. The message echoes last week’s PERE Forum: Asia 2009 conference in Hong Kong.
The German government is reportedly taking legislative action which could force a consortium led by US firm JC Flowers to sell its 24 percent stake in stricken Germany-based commercial real estate lender, Hypo Real Estate.
PERE Forum: Asia 2009. Jonathan Brasse reports on the top ten issue that came out of the conference.
The Canadian Pension Plan fell in value by C$13.8 billion to C$108.9 billion in 2008 as investment returns shrank. However according to the plan’s latest figures, its inflation-linked assets continued to grow in value.
Japanese private equity real estate firm KK daVinci sees its equity raising plans and the value of its assets under management hit by worsening market conditions in Japan.
General partners attending this year's PERE Forum in Hong Kong were today warned that despite the inability of many US pension funds to commit equity this year, they expect communication from GPs throughout the year. Those who listen to the advice will be well positioned to take advantage when their equity doors open again in 2010.