Chicago-based real estate investment management firm Heitman has closed a Russia and Ukraine-focused fund on $145million (€101 million) with a commitment from GE.
India’s largest private equity fund has become the latest to float a fund to cash in on India’s booming real estate sector, estimated to reach $90 billion by 2015.
The firm’s $360m India-focused fund has made its largest investment so far in an IT park in Navi Mumbai.
The $1bn private equity fund will take advantage of surging demand for hotels in the major business and leisure districts of Asia by teaming with Carlson, the owner of several hotel brands including Radisson.
The European property fund manager’s new fund will focus on non-traditional areas of the market for a target return of 20 percent per annum.
INREV says the termination of ’first generation funds’ will release €49.5bn of real estate into the market in 2009 and 2010.
Lightyear Capital has acquired the UK operations of German insurance company Württembergische Versicherung, after ensuring the company could become a member of Lloyd’s of London.
The private equity firm has formed a $160m joint venture with Triyar Hospitality to invest in niche hospitality assets in the US.
J.E Roberts has named former GE Real Estate head Michael Pralle as the firm’s new president and chief operating officer.
The Carlyle Group has closed its third US-focussed fund on $605 million, bringing the 10-year-old venture arm’s total capital under management to $3.8 billion. It is the third fund the buyout giant has closed in the past four weeks.