Zoe Hughes

The $132.2bn public pension is shifting its attention away from value-added and opportunistic strategies, and sets an overall benchmark for the asset class to meet: a minimum of 9.25% net of fees.

Susan Barlow has left the real estate investment arm of Deutsche Bank after two years. It follows news that Chuck Leitner was stepping down as global head to lead the non-profit Greenprint Foundation.

Apollo and Centerbridge reportedly lost out to Fortress for the US’ second-largest special servicer, which was expected to fetch $200m.

The two investment firms backed a management buyout of First Republic Bank from Bank of America, injecting $1.86bn of fresh equity into the deal.

Thomas Barrack reportedly admits the timing of the US casino operator’s $5.4bn take-private in November 2007 was poor, telling Bloomberg Markets the firm was now focused on smaller, unconventional deals.

The 'Volcker Rule's' impact on private equity may not be felt until 2022, and its main effect could be to reduce banks' co-investment in alternative vehicles.

The $94bn pension fund has started webcasting its board meetings following a growing trend among US public pensions to have live feeds of its sessions.

Crescent Resources, the property developer and manager with land in the South East and South West US, has exited bankruptcy protection after wiping $1bn of debt from its balance sheet and securing $150m in exit financing.

Together with Alberta Development, PCCP and Walton Street have paid off all loans secured against a Colorado retail and mixed-use centre. In buying back the debt, the JV was able to sign a 10-year, 96,000-sq. ft office lease.

Newly formed G2 Investment Group, co-founded by J. Todd Morley, David Conrod and Antonio de la Rua, has as its CIO Alan Menkes, a buyout veteran formerly of Thomas Weisel and Hicks Muse.