The US firm is targeting $100m for its first Asian fund. Unlike other fund managers with grand expansion plans for Asia, Riverside is staying away from India and China.
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.
A blank cheque company sponsored by a Japanese consortium has agreed to acquire Senoko Power from the sovereign wealth fund.
Australia’s Anchorage Capital Partners has acquired Hans Continental Smallgoods – the first investment from its maiden A$200m fund, which has held a first close on A$100m, and its second in the food sector.
A study conducted by a London-based private equity investment club found that more than two years after the UK government cleared the way to let self-invested personal pension schemes invest in private equity, 21 percent of scheme providers still restrict their investors from participating in the asset class.
Investors should look beyond ‘volatile’ short-term concerns in Europe and focus on longer-term issues such as economic growth, liquidity and risk-adjusted performance, according to a report by UK real estate fund manager, Invista. Germany, it said, was one of the most attractive locations.
In the wake of the resignation of its CEO and chairman, infrastructure investor Babcock & Brown has promoted John Fanning to chief financial officer.
The Singapore developer and real estate investment firm looks to increase its exposure to Asia’s emerging markets just as it sells the Capital Tower Beijing complex for $352m. It first acquired the property three years ago, while it was under construction.
The US private equity firm has completed its first exit from its debut fund wit the sale of FirstLight for a reported value of $1.9bn. Energy Capital paid $1.34bn for FirstLight’s predecessor company in November 2006.