Zoe Hughes

Patricia Gerrick has resigned after driving the state pension exposure to real estate and private equity to 5%, respectively.

The $36.9bn endowment is reportedly planning to sell some of its holdings in private equity, hedge funds and other money managers to bring more capital in-house and be more ‘nimble’.

As part of the US REIT’s efforts to reduce its debt load, Maguire Properties is handing over control of seven buildings once valued at more than $1 billion. The properties were bought between 2004 and 2007. LBA Realty is reportedly taking over one asset, Park Place I.

The New York-based investment manager has $12.4bn of capital to deploy to real estate and $14bn for private equity. Announcing its second quarter results, Blackstone wrote down its real estate portfolio by 19 percent.

Tony James and Wes Edens have each said during earnings calls this week that their firms are eager to do US bank deals, but warned proposed FDIC policies may deter investment.

Just five years after launching it, Citi is following the lead of other institutions and trying to exit its private equity real estate funds business. CPI must first win approval from 67% of its LPs.

The Dallas-based private equity and real estate investor is expected to garner up to $2bn in commitments by the end of August as part of its efforts to raise $20bn to target distress, according to Bloomberg.

The pension's former real estate head, Michael Latimer, takes the CIO reins as OMERS prepares to manage third-party money as well as a multi-billion co-investment fund for institutional LPs.

Michael Latimer was previously chief executive of the Canadian pension’s real estate arm, Oxford Properties. The appointment will allow the C$44bn fund’s CEO, Michael Nobrega, to focus on creating a multi-billion dollar 'alliance' to target large scale infrastructure and real estate assets.

After much publicity over its $5bn debt-load, the Colony Capital-backed casino operator has filed for bankruptcy protection.