Graham Winfrey
The pending $2.1bn sale of Intergraph, an engineering and geospatial software maker, represents a handsome return for its private equity sponsors.
The venture firm established by the Rockefeller family has closed its sixth fund on $350m, nearly half the size of its 2007 predecessor.
The Dallas-based investment management firm has named Steven Delarosa managing director of investor relations, a newly created position.
ING Real Estate Investment Management, which is currently in the process of being sold, has agreed to sell the last assets of its Real Estate Office Fund of The Netherlands (REOFN) portfolio to a joint venture of Dutch family offices and Middle Eastern institutional investors.
Stockholm-based independent asset manager East Capital Explorer has decided to close its Russian Property Fund, returning the capital back to its investors.
LNR Property will launch a $400m rights offering to recapitalise its business. The firm, the parent company of the largest special servicer in the US, LNR Partners, has engaged Goldman Sachs and Bank of America Merrill Lynch for a new $445m loan which, together with the rights offering, will refinance a $868m senior loan.
Billionaire activist investor Nicolas Berggruen has reportedly won the bidding for the troubled German department store chain, Karstadt. The Goldman Sachs-led investment entity Highstreet, which owns a majority of Kartstadt real estate assets, is said to be unwilling to make concessions requested by Berggruen to save the department store brand.
Racebrook Capital, which is still raising its first discretionary real estate fund, is eyeing the massive amount of CMBS product that is due or coming due, following reports of record delinquencies.
Citing global regulatory changes, the bank plans to spin out five of its private equity fund management businesses in Britain, Canada, Hong Kong, the US and the Middle East.
The Ontario Municipal Employees Retirement System’s real estate arm will reportedly be the lead equity partner with Related Companies for a $15bn development of Manhattan’s Hudson Yards, after Goldman Sachs Real Estate Principal Investment Area withdrew from the deal.