Eva Poon
Naresh Naik, former head of asset management for Lehman Brothers in India, joins the private equity real estate unit of Morgan Stanley as an executive director and head of asset management in its Mumbai office.
The US pension committed €200m to Blackstone’s latest Europe-focused property fund, Blackstone Real Estate Partners Europe III.
The Caisse de dépôt et placement du Québec is adjusting its investment strategies in private equity and real estate in response to the global financial crisis.
Real estate investors and lenders are expected to target US coastal centres, such as San Francisco and Seattle, as capital continues to flow away from secondary and tertiary markets, according to a report by the Urban Land Institute and PricewaterhouseCoopers.
The US Senate has approved the $700bn financial bail-out plan allowing the US Treasury to buy distressed assets in the form of securities backed by home mortgages. The US House of Representatives is expected to vote on the bill Friday.
The Gulf investor is teaming up with a Chinese developer to target $6bn of real estate projects in the country, at the same time as launching a $1.5bn China-focused private equity vehicle.
The real estate investment firm has acquired three residential properties in France. The deal was made through its ING Real Estate French Residential Fund.
The world’s sovereign wealth funds are expected to allocate up to 30 percent, or around $218 billion, of new investments in unlisted property funds over the next seven years, according to a report by CB Richard Ellis. It comes as Bahrain-based Investcorp launches a $1bn real estate debt vehicle with an unnamed Gulf sovereign wealth fund as an investor.
Robert Kelly is tasked with overseeing real estate investments for the private equity real estate firm’s Perseus Capital City Fund, as well as its latest $200m vehicle, Perseus Realty Partners II.
Indian housing lender HDFC will function as an ‘asset reconstruction fund’ targeting developers facing a tougher real estate market. Along with its asset management unit, HDFC will acquire distressed real estate projects in the country.