Zoe Hughes
Apollo Global Management, the Leon Black-led alternative investment giant, has been actively recruiting real estate professionals to lead a new real estate arm. The move could present a branding challenge to a separate firm called Apollo Real Estate Advisors, in which Black owns a minority stake.
The US pension has made commitments to private equity and real estate funds including $79m to Charterhouse Capital’s ninth European buyout fund and $9 million to a sidecar vehicle associated with Battery Ventures’ eighth fund.
The US’ largest union of long-term care workers, the Service Employees International Union, launched its ‘global day of action’ today targeting KKR, its portfolio company Toys R Us and pension funds and politicians in support of the buyout industry. Unite, the largest union in Britain, also joined the cause.
New Mexico's $13bn state pension scheme has approved $60m in commitments to three private equity funds, including Quantum’s energy exploration fund.
Starwood Capital’s latest global real estate fund has received $100m in commitments from two US pension funds, including New Mexico’s $13bn scheme and the $15.8bn Louisiana Teachers fund. New Mexico also committed a further $65m to private equity and real estate funds.
The London-based buyout firm is opening an operation in France recruiting former NewBridge co-founder Didier Riebel and ex-SPEF LBO managing director Laurent Allégot. The firm is targeting €100m with its first dedicated French vehicle.
Six modernist housing estates in Berlin, including one owned by Pirelli Real Estate and the private equity real estate arm of Deutsche Bank, have been given the same protection as the Great Wall of China and the Great Barrier Reef after being named a World Heritage site by Unesco.
Steve & Barry’s, the discount clothes retailer with 276 stores across the US, cites a ‘liquidity shortfall’ after it filed for Chapter 11 bankruptcy protection. Boston-based private equity firm TA Associates held a minority stake in the firm.
The US’ second largest public pension fund says it could cut the number of fund managers it works with as market conditions prompt it to review investment relationships. The pension says it will focus on those who ‘outperform in difficult markets.’
Global Infrastructure Partners and energy company Fortistar have acquired bankrupt Texas power generation plant Channelview after US courts approved the deal last month.