The second largest pension fund in the US has made an “unprecedented” move by significantly expanding its target allocations to alternative investments, including private equity and real estate.
The Los Angeles-based distressed specialist sold the historic Curtis Center along the city’s Independence Mall for $94m to a local property investor.
The private equity real estate arm of the global investment bank has formed a joint venture with the real estate subsidiary of Duke Energy with plans to expand the business across the US.
Europe’s biggest buyout firm has landed its third deal of the year buying Principal Hotels from Royal Bank of Scotland just two months after missing out on De Vere, a rival chain.
In its first deal in Asia, the New York-based developer and the private equity arm of ICICI Bank have announced plans for a $100m office complex in Hyderabad to be designed by famed architect IM Pei.
A candid conversation with Earvin “Magic” Johnson, the former NBA star who has become one of the most visible private equity real estate investors in urban America.
Real estate investment firm AEW Capital Management has opened an office in Singapore and, in addition to staffing the office, is looking to launch a new regional vehicle.
The New York-based private equity firm has added Adam Aron, a ten-year veteran of former Apollo portfolio company Vail Resorts, to its roster as a senior operating partner.
Starting from an NYU dorm room in the early 1980s, Joseph Sitt began purchasing property in the blighted neighborhoods of New York and converting them into inner-city shopping strips. Along the way, he built up his own retail chains, renovated outer-borough shopping centers and built Thor Equities into an investment firm with more than $2 billion invested in urban mixed-use strategies across the US. Thor, which closed its first commingled fund in 2004, recently purchased the Palmer House Hilton in downtown Chicago. Here Sitt speaks about urban retail, the need to think multi-dimensionally and the importance of a good sound system.
Over the past few years, turnaround investor Sun Capital Partners has been involved with a number of high-profile retail buyouts, including Mervyns and the Pamida and ShopKo chains, as well as specialty retailers like Wickes Furniture, Mattress Firm and Nationwide Furniture. But as Gary Talarico, head of the Boca Raton, Florida-based firm's New York office, is quick to point out, the firm doesn't seek out retail or real estate deals. Rather, the firm invests in distressed companies and looks to use the company's property in the recovery.