Zoe Hughes
The Los Angeles-based private equity real estate firm is considering a possible investment in the City Center project, according to sources. Colony is trying to help ‘both sides’ resolve the project’s problems.
The latest private equity fund of funds from the Connecticut-based advisory group and funds manager will invest in buyout, venture and special situation funds.
The Boston skyscraper was sold for a reported $20.1m, plus the assumption of a $640.5m mortgage, after Broadway Partners defaulted on a loan. Broadway paid $1.3bn for the skyscraper and two other buildings in 2006.
The French private equity firm has written down to zero its €144m investment in the Las Vegas casino operator. It has also written down other investments with Colony Capital, including in the firm’s Colyzeo II fund.
The private equity firm, who along with Grove International Partners and Shinsei Bank, invested €1.1bn for a 24% stake in the bank in June last year, said it wants to remain as shareholders for ‘good or bad’. The firm's founder told German lawmakers to seize control of the bank would be an 'extreme step'.
Michael Sabia, the ex-CEO of BCE who worked on the failed take-private of the Canada telecoms company, has been appointed president of the C$120bn Canadian pension.
Robert Redmond, who also advised on the private equity buyouts of First Data Corp and TXU, will join as vice chairman to build its North American operations. It comes as parent Macquarie Group initiated a second round of global staff cuts, which have hit Macquarie Capital hardest.
Falling equity values made 2008 the worst year in the history of the Government Pension Fund. The fund holds investments in several listed Macquarie and Babcock-affiliated infrastructure funds.
The Des Moines, Iowa-based real estate firm has appointed Michael Fortier as controller and chief financial officer of the funds managed by Aviva Investors’ New York office.
LaSalle Investment Management has been voted global firm of the year in the 2008 Global PERE Awards. Colony’s Richard Saltzman takes North American industry figure of the year, while Citi Property Investors win European firm of the year. MGPA take a raft of awards for their Asia operations.