September 2009 Issue
INTERVIEW: The new, new guard
PERE Magazine September 2009: Barden Gale, recently named CEO of JE Robert Companies, speaks with Zoe Hughes about the challenges and opportunities facing JER and its need to keep ‘constantly evolving’
INTELLECTUAL PROPERTY: Cutting the nose off to spite the face
PERE Magazine September 2009: The decision by Citigroup to sell Citi Property Investors may be about reducing risk, but it only ensures the bank misses out on the potential for outsized returns over the next five years. By Zoe Hughes
FEATURE: The reeducation of Blackstone
PERE Magazine September 2009: Although it sits on a massive pile of dry powder, the world’s largest private equity real estate firm has directed its professionals to first spend their time deeply researching macro trends around the world, as well as briefing LPs about their findings. Jonathan Brasse recently interviewed the London-based team that spearheaded this back-to-school effort to learn how they believe the world has changed.
Fifteen firms that will thrive
PERE magazine unveils its selection of firms that will thrive and survive amid the real estate hard times.
FEATURE: We want a divorce
LPs who want to replace their GPs should know that it is very, very difficult – even in this market. By Robin Marriott. PERE Magazine September 2009.
Eurozone: Views from the White Tower
PERE Magazine September 2009: Why a jumbo European securitisation called White Tower is being closely monitored by private equity real estate firms. By Robin Marriott
EUROPE NEWS: UK a magnet for Middle East
PERE Magazine September 2009: From entertainment complexes and student accommodation to core offices, fresh Middle Eastern capital is flowing into the UK real estate market. By Robin Marriott
EUROPE NEWS: Shake-up at CP Eaton
PERE September 2009: Two European professionals at US placement agent CP Eaton have left in recent weeks. The firm has been cost cutting, but the changes at CP Eaton mirror wider challenges in the capital raising industry. By Robin Marriott.
EUROPE NEWS: From Russia, with (some) love
PERE Magazine September 2009: So far this year, some opportunity funds for Russia have been launched, while others have been cancelled creating a confusing picture of investor appetite for the country. By Robin Marriott
ASIAVIEW: An elixir for J-REITs
PERE Magazine September 2009: The future of J-REITs is looking healthier as Japan’s government seeks to underpin a viable exit for investments. By Jonathan Brasse
ASIA NEWS: Rutley’s Indian adventure on ice
PERE Magazine September 2009: The private equity real estate arm of international property services firm Knight Frank is the latest overseas fund manager to shelve plans for an Indian opportunity fund as investors prioritise domestic partners
ASIA NEWS: Lone Star leads Lehman Salvo
PERE Magazine September 2009: Dallas-based Lone Star has beaten off a host of rival bids to secure $10 billion of loans from Japanese units of Lehman Brothers as part of the Wall Streetcasualty’s ongoing sell-off. By Jonathan Brasse.
ASIA NEWS: Asia specific
PERE Magazine September 2009: While rivals struggle with their pan-Asia vehicles, AXA REIM’s strategy in Asia is to be country and sector focused, as exemplified through its plans for a China housing fund. By Jonathan Brasse.
AMERICAS NEWS: Risk spectrum
In the pursuit of greater transparency, Allstate Investments has developed a rating system that judges GPs against key risk factors. By Zoe Hughes. PERE Magazine September 2009.
AMERICAS NEWS: Finding the alpha in beta
PERE Magazine September 2009: Siguler Guff’s new managing director of real estate James Corl warns real estate investors have to take a macro view of the asset class to take advantage of distressed opportunities. By Zoe Hughes.
AMERICAS NEWS: Easing the way
PERE Magazine September 2009: Credit Suisse placement veterans David Hodes and Doug Weill have launched their own advisory firm in anticipation of a ‘significant transformation’ of the private real estate funds world. By Zoe Hughes.
AMERICAS NEWS: Brookfield’s hot new club
PERE Magazine September 2009: How did a firm with just 6 percent of its capital devoted to opportunity vehicles manage to secure $4 billion for a ‘turnaround consortium’? By Jonathan Brasse.