Zoe Hughes

Giving evidence to the US Senate Banking Committee, ex-Fed Reserve chairman Paul Volcker tells banks to choose between being bank holding companies and housing private equity and private equity real estate platforms.

Ex-Federal Reserve chairman Paul Volcker says banks need to choose between being bank holding companies and housing private equity platforms. Citi, meanwhile, may divest its $8bn PE unit.

Colony Capital is eyeing the FDIC as a valuable source of real estate deals in 2010. PERE magazine, February 2010 issue

The Boston-based firm has held a final close on its latest vehicle, which was originally targeting $6bn.

Invesco and Oaktree have secured commitments from the $126bn New York State Common Retirement Fund. The pension also committed $160m to four private equity funds.

Last year, in one of the toughest fundraising environments ever, GPs raised only $30bn in capital. 2010 could be just as difficult – especially if more investors opt out of the commingled fund model.

Roughly 60 commingled property vehicles closed on commitments last year, raising $30.4bn – a 66% reduction from the peak of 2007. More than a third of all funds closed were targeting Europe.

Barack Obama wants to clamp down on bank-sponsored private equity funds. It could mark the end for such vehicles in the US. By Zoe Hughes

A $209m stalking horse offer to buy 134 senior living facilities is to be recommended to bankruptcy court. The deal would also include the assumption of $945m in debt. The SEC alleged Sunwest was a “virtual Ponzi scheme” in 2009.

Amid 5,000 pages of documents released by CalPERS, it was revealed Capmark paid Credit Suisse a one-time fee of $27m for one fund, while RLJ paid Presidio $10.6m for two vehicles, including $1.7m for CalPERS' commitments.