Industry participants are raising red flags over the pension giant's decision to sponsor legislation that would require placement agents to register as lobbyists and ban success fees.
A proposed rule in California would turn placement agents into lobbyists. It’s yet another challenge to the definition of what a placement agent is.
The investment consulting firm founded by James Meketa beat out Wilshire Consulting, Pension Consulting Alliance and R.V. Kuhns & Associates for the position and will begin its appointment on or around 1 January 2010. To date, CalPERS has committed $700 million to infrastructure, which is part of its inflation-linked asset class.
Already backed by five European countries, the EIB-managed fund has now pulled in financial support from the UK as it seeks to raise €1.5bn by 2011. The fund will back projects implementing EU policy in areas such as climate change and energy security.
An appropriations bill for transportation, housing and urban development allocates almost $64bn for transportation infrastructure but leaves out President Obama's $5bn request for a National Infrastructure Bank due to ‘the complexity of the proposal’.
JSW Energy has raised INR4.6bn from investors and will use the capital to finance its power projects. Hedge funds Eton Park International and Highfields Capital Management, as well as Credit Suisse and Deutsche Securities are among the company's first investors.
PCG Asset Management would run the programme, which would target original commitments of between $5m and $20m.
There have been a number of institutional portfolio changes over the last 12 months affecting the real estate allocation. Here is a selection of some of them, beginning with the most recent. PERE magazine December 2009-January 2010 issue
There has been little clarity to the US real estate markets in the past year, however things have started to change. At the recent Urban Land Institute conference in San Francisco, PERE assembled a cross-section of industry professionals to gauge their thoughts on the state of the market and the future for private equity real estate. PERE magazine December 2009-January 2010 issue.
With investor confidence sapped following the Dubai government's decision to seek a six-month 'standstill' on the debt of Dubai World and Nakheel, Jones Lang LaSalle says the real danger is sovereign – not corporate – default.