The unrelenting rise of sovereign wealth and a promising outlook for MENA private equity funds were among the key talking points at PEI’s Middle East Private Equity Forum in Dubai.
As real estate investors such as Sam Zell’s Equity International scout opportunities in Libya, a project in the seaside resort of Janzour has received a €55 million development finance facility, the first of its kind in the country.
CVC, led by chairman Michael Smith, has raised Europe’s largest-ever private equity fund in spite of credit market problems making larger buyouts difficult to achieve.
Backed by Lubert-Adler, the former founders of Somera Capital Management’s retail group have launched a venture to acquire retail properties across the US.
Virginia Retirement System increases real estate and private equity allocations by three percentage points, saying it wants more flexibility in its portfolio.
Mike Smith will replace Philip Levinson as director of client services for LaSalle’s Asian investors in real estate products.
A group of private equity firms, including initial backers RRE and Venrock, have invested $7.2 million in the Storm Exchange.
The two Middle Eastern firms and regional bank Dubai Islamic Bank have raised a Shariah-compliant vehicle that will invest alongside Global Investment House’s planned $1.5 billion global fund.
The investment bank is quietly drawing together professionals from within the firm to raise alternative investment funds for external clients.
The two firms, both with global footprints, were big winners among many unveiled today for the 2007 Global PERE Awards.