SUN Apollo Ventures has invested more than $60 million by acquiring a stake in Mumbai-based developer, Keystone Realtors. The joint venture between AREA Property Partners and the Khemka family promoted SUN Group will also invest in the developer’s projects.
A new complaint from the New York attorney general’s office details the allegedly corrupt economic bond between Aldus Equity’s Saul Meyer and political operative Hank Morris, whose relationship ultimately became strained to a point where both created vivid epithets for each other.
Thomas DiNapoli, New York's comptroller in charge of the $122bn New York State Common Retirement Fund, seeks reimbursement of more than $5m in fees paid and other damages from the financial advisor Aldus. The Dallas-based firm is accused of taking part in a kick-back scandal involving the New York Common.
The $20bn Connecticut state pension is the latest in a list of US pensions that have ended their relationship with Aldus Equity after the Dallas firm’s founder, Saul Meyer, was indicted for allegedly taking part in a kick-back scheme. Aldus’ lawyer yesterday rebuked the SEC as being ‘careless’ for naming the firm in a related complaint.
The Cayman Islands-based firm has launched a residential housing fund, with hopes of closing the vehicle by the end of the year. Half the fund is expected to invest in Peru and Colombia. The firm's last fund closed on $42m last year.
American International Group is close to selling its $1 billion Japanese headquarters as it looks to reduce its debt position. In a report by the Wall Street Journal, the embattled insurer has attracted at least two bidders for the 15-story building.
April was a month of senior departures, many of whom built the platforms and raised the funds that PERE LPs find themselves committed to today. The issue has become an area of grave concern.
The New York attorney general says he will cooperate with AGs in other states to 'shed light on a process that has been perverted'. The wave of subpoenas includes 49 investment firms who allegedly paid unlicensed placement agents for securing public pension capital.
New York’s Attorney General Andrew Cuomo has indicted Saul Meyer for allegedly making illegal payments to Henry Morris in exchange for business with the $122bn New York State Common Retirement Fund. Cuomo said he is actively coordinating with other states’ law enforcement agencies on the investigation.
RREEF bought a 'significant minority' stake in Aldus in 2007, at a time when Aldus founding partner Saul Meyer considered backing out of an arrangement in which his firm was allegedly paying illegal kick-back fees.