Real estate
Cerberus fails in challenge to Seibu board
Cerberus Capital Management failed to its attempt to assert more control over the management of railway and property group Seibu Holdings, as shareholders voted down the PE firm's plan to secure more board seats.
TIAA-CREF merges property business with Henderson to boost Asia exposure
TIAA-CREF has merged its real estate business with that of London-based manager Henderson Global Investors in order to broaden its global portfolio and gain better Asia exposure in particular.
Carlyle-backed New Century REIT targets $254m HK IPO – report
China’s New Century Group, a portfolio company of the Carlyle Group, is seeking to raise as much as $254 million through an IPO offering by a real estate investment trust (REIT) in Hong Kong.
JLL reaches first close on debut India real estate fund
Jones Lang LaSalle’s (JLL) Segregated Funds Group has reached a first close of INR1 billion ($17.2 million) on its Residential Opportunities Fund I. The vehicle launched last year and has a final target of INR3 billion ($51.2 million)
TriVeda Capital launches $500m real estate vehicle
India-focused TriVeda Capital has launched a $500 million real estate asset management platform, initially comprising five residential and mixed-used projects located in Bangalore. It plans to invest in structured property transactions in tier-one cities.
CITIC Capital raises $683m China retail property fund
CITIC Capital has reached a final close of $683 million on its China Retail Properties Investment Fund, exceeding the original target of $600 million.
Avenue Venture invests $9.5m in Chennai residential project
Avenue Venture Partners has invested INR250 million ($4.3 million) in a Chennai luxury residential project being developed by Casa Grande. The firm plans to commit a total of INR550 million ($9.5 million) in the project.
ICICI Prudential exits Indian residential investment
ICICI Prudential AMC, a joint venture between India’s ICICI Bank and Eastspring Investments, has exited investments in two Shriram Properties residential projects in Bangalore with returns upwards of 20%.
Cerberus challenges Seibu management ahead of annual meeting
Cerberus Capital Management has publicly questioned the management of railway and property group Seibu Holdings in a bid to gain support for its shake up of the company's board at a shareholders meeting later this month.
Motilal Oswal hires Sharad Mittal to head real estate
Motilal Oswal Private Equity (MOPE) has appointed Sharad Mittal as head of its real estate business. The firm is expected to launch an INR6 billion ($104 million) India real estate fund later this year.
Blackstone draws $1.5b in commitments for Asia property fund - report
The Blackstone Group has so far managed to attract $1.5 billion of capital commitments for its first Asia real estate fund, targeting $4 billion.
PAG agrees $150m investment in Chinese property developer
PAG’s absolute returns division will invest in China-focused shopping mall operator Zall Development Group through a $100 million convertible bond issue, with the option to subscribe to a further $50 million worth of bonds. Assuming full conversion,...
Nexus invests $2.5m in Housing.co.in
Nexus Venture Partners will back Indian real estate search portal Housing.co.in with $2.5 million in funding to help expand its technology and data teams.
Australia’s QIC enters US retail property market
Australian institutional investment manager QIC has made its first direct investment into the US property market after taking a position in eight regional retail malls worth $2.05 billion. QIC’s global real estate division will put in $435.6 million...
City e-Solutions commits $25m in China property fund
CES Capital, a private equity arm of Hong Kong-listed City e-Solutions (CES), has committed $25 million to BEA Blue Sky Real Estate Fund, a vehicle operated by Bank of East Asia. The CES Capital contribution represents about half of the target fund size.
Global investors to boost alternatives exposure – survey
Institutional investors expect to increase allocations to alternatives in 2013, with focus on real assets such as infrastructure and property, according to a survey by AMP Capital.
Carlyle acquires 49% stake in China shopping malls
The Carlyle Group has acquired a 49% stake in two shopping malls in Suzhou and Hangzhou owned and operated by Chinese developer SZITIC Commercial Property (SCP) as part of a strategic partnership.
Warburg Pincus makes debut Vietnam investment
Warburg Pincus has made its first investment in Vietnam, leading a consortium that will pay $200 million for a 20% stake in the retail property platform of Vingroup, the country’s largest private-sector real estate operator.
MGPA deal expands BlackRock’s Asia footprint
Asia Square, a twin tower complex in Singapore's Marina Bay, is set to be city state’s most environmentally friendly building. Designed by architects Denton Corker Marshall, it will house the world’s largest solar panel roof installation and the first...
Silver lining: Investing in Asia's elderly
An established investment trend in developed markets, private equity players in emerging Asia are considering how they can best meet the needs of the region’s aging population
BlackRock to acquire MGPA
Asset manager BlackRock is to expand its presence in Asia by buying real estate investor MGPA, which had $12 billion in assets under management as of March.
China’s SAFE sets up in New York, targets PE – report
China’s State Administration of Foreign Exchange (SAFE), which overseas $3.2 trillion in foreign currency reserves, is said to set up a New York operation to invest in private equity, real estate and other US assets. The move is seen as part of the...
Ares Management buys AREA Property Partners
Global alternative asset manager Ares Management has acquired AREA Property Partners, a New York-headquartered real estate management firm investing across North America, Europe and India.
CPPIB, GE Capital launch Tokyo property co-invest program
Canada Pension Plan Investment Board (CPPIB) and General Electric Capital Real Estate (GECRE) have formed a joint venture targeting investments in mid-size Class A-B offices in key central business district sub-markets in Tokyo.