Zoe Hughes

Jennifer Aleman Hutter and Elizabeth Weiner have formed a consulting firm, focused solely on the GP-side of the placement business.

For the first time, investors in private equity real estate are turning to the secondaries market, according to Joseph Stecher, CIO of the bank's real estate fund of funds.

The private equity real estate arm of Leon Black’s buyout shop has garnered $107m for its securitised debt vehicle, on top of $317m for its mortgage REIT.

Bill Thompson, Walter Stackler, Pamela Wright and Fredrik Elwing have all left to join the New York-based bank. Greenhill said its expansion into the real estate capital raising business was a ‘natural step’.

Extended Stay’s board has backed the offer from Starwood, TPG and Five Mile, saying it would value the bankrupt company at $3.9bn.

General Equity Real Estate’s Chris Macke has warned US banks and financial institutions need to start a phased clean up their balance sheets, otherwise real estate won’t recover until 2014 at the earliest.

John Klopp, head of the bank’s Americas real estate investing and global debt investing operations, expects the firm to target FDIC loan portfolios as it looks to debt opportunities for future investments.

Colony Capital will become Annie Leibovitz’s sole creditor and help her market her library of photographs.

The real estate group has also sold its debt fund management and servicing arms to Andrew Farkas’ Island Capital Group for $110m as part of the reorganisation.

PERE March issue 2010