Leon Black’s Apollo Global Management looks to enter the real estate space.
The Indian developer has secured $300m in capital commitments from global investors for its Unitech International Real Estate Fund and is expecting to raise another $300m before the close of the year.
Global Investment House has raised $500 million for its London Stock Exchange-listed fund focussed on financial sector assets in Middle East and North Africa.
Alpha Investment Partners, a private equity unit of the Singapore-based developer, will invest in real estate across Singapore, Japan, Taiwan, South Korea and Hong Kong.
As REITs in the US and Japan look increasingly stressed, the chief executive of LaSalle’s Asia Pacific securities division argues there are growing opportunities in Australia’s listed property sector as the industry feels the impact of the credit crunch.
Raffles City China, which will be the largest private equity vehicle managed by CapitaLand, will develop Raffles City-branded developments in key gateway cities in the country. A second close in December could increase fund commitments to $1.3bn.
The LA-based real estate firm has made three senior appointments for its global multi-manager business, two in London and one in Boston.
Steve & Barry’s, the discount clothes retailer with 276 stores in the US, cites a ‘liquidity shortfall’ after filing for Chapter 11 protection. Boston-based private equity firm TA Associates held a minority stake in the company, which recently signed-up Sex and the City star Sarah Jessica Parker.
The Australian property firm has held a first close on its €500 million fund to invest in French industrial property.
The US’ second largest public pension fund says it could cut the number of fund managers it works with as market conditions prompt it to review investment relationships. The pension says it will focus on those who ‘outperform in difficult markets.’