The city has issued a request for proposals for a feasibility study of undertaking a long-term lease of its 11 parking garages. Eventual proceeds would be used to shore-up the finances of the city’s pension, which is only 36% percent funded. Responses are due 20 March.
The trend was one of a number of observations shared by banking executives speaking at a debt financing roundtable at PEI’s Infrastructure Investor Forum in Berlin.
Some of the world’s biggest private equity firms – including KKR, Blackstone, Carlyle, Permira, Providence, Apax and Apollo – have committed to consider environmental, social and corporate governance issues when making investments.
Valuation difficulties have prompted the Texas-based mega-firm to cease talks that began more than a year ago with the Kuwait Investment Authority and two California pensions over the potential sale of a single digit stake in its management company.
Beijing-based Origo Sino-India is setting up an agriculture-focused private equity fund which will invest globally with a bias for Australasia.
President and chief executive of Allianz Real Estate Olivier Piani says it is the ‘best time’ to be growing a global organisation. The insurance company expects to grow its allocation to RE to 6% 'and maybe more', with up to a third focused on the US and Asia respectively.
Joseph Dear, former executive director of the Washington State Investment Board, will become CIO of the US' largest public pension plan following the departure of Russell Read last June. The hire puts an end to speculation that the CIO role would be filled by Carlyle venture veteran Bob Grady.
The proposed private equity fund will be managed by Prescient Fieldstone Investment Management and target final commitments of $500m. A first close is scheduled on $150m.
CalPERS veteran Anne Stausboll will lead the US’ largest public pension plan and influential private equity investor. The pension is still searching for a CIO following the departure of Russel Read earlier this year.
Belgian private equity firm Gimv has exited its 2004 investment in Sfinc by selling its majority stake to an AXA-led consortium. Sfinc produces and distributes spices, marinades and food ingredient blends for food processing companies.