The US bank is on the fundraising trail again as a previous $1bn vehicle nears completion, according to a report.
Italian private equity firm Magenti will sell the concrete equipment firm to a consortium comprised of Shenzhen-listed construction equipment company Zoomlion, Goldman Sachs, Hony Capital and Mandarin Capital Partners.
Heitman veteran Harold Schwartz, previously head of Europe acquisitions, will lead the Chicago-based firm’s expansion into the Asia-Pacific region. Schwartz will be based in Tokyo.
CITIC CapitalLand Business Park Fund has closed on $72.5m, having raised money from domestic Chinese institutional investors. It is the first private equity real estate fund to be denominated in Yuan.
Hong Kong tycoon Li Ka-shing’s firm will mainly focus on the main cities in China, Singapore, Hong Kong and Malaysia, but also look to Taiwan, Thailand and Vietnam. With leverage, ARA has a potential $5bn to invest.
The number of funds targeting less than $1 billion of equity commitments has increased by almost one fifth to 128 in the first quarter of this year, with managers’ focus firmly pointed towards Asian real estate, according to research by New York-based fund of funds Clerestory Capital Partners.
The private equity real estate firm headed by Barry Sternlicht calls for greater personal responsibility towards the environment as he announces a $200m deal to develop a luxury sustainable condo-hotel on the Pacific coast.
Indian development firm GMR Infrastructure will purchase AIG’s 50 percent stake in power generation company InterGen, while Ontario Teachers’ will continue to hold the remainder of the company it purchased with AIG in 2005.
Kayne Anderson Energy Funds is also part of the consortium that has made an all-equity purchase of oil pipeline specialist Crestwood Midstream Partners.
The New York-based private equity firm says it plans to expand the German commercial real estate lender’s operations internationally, particularly in Japan, after shareholders tendered 24.13 percent of the firm’s stocks. JC Flowers expects to meet the maximum stake of 24.9 percent once all shares are counted later this week.