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Private-equity property fundraising at lowest since 2003

Posted on 04 April 2013 by Laxman  |  Email |Print

Private-equity fundraising for real estate dropped to the lowest level in almost a decade as the process of collecting capital from investors lengthened to more than double the time spent in 2007, Preqin Ltd. said.
About $5.2 billion was raised globally by 20 closed-end funds, a 79 percent decline from the previous three months and the lowest since the third quarter of 2003, the London-based research firm said today in a statement. Funds that held final closings in the period were marketed for an average of 18.7 months, compared with 9.2 months in 2007, near the commercial real estate market’s peak, Preqin said………………………………………..Full Article: Source

India: PE investments in real estate robust despite sector slowdown

Posted on 14 March 2013 by Laxman  |  Email |Print

The total value of private equity investments in real estate rose 7% in 2012 to Rs.6,200 crore, according to the latest Real Estate Investment Market Report from consultant Cushman and Wakefield, amid a slowdown in the sector. In terms of value, most of the investments were in ready income generating and operational office assets, up 34% to Rs.3,230 crore, according to the report.
“Investment in ready income generating/operational office assets have gained strength over the last few years due to lower risk and steady cash flows associated with this type of investment. With an increase in the number of high-value transactions in this sector, the market is moving towards a mature phase,” said Sanjay Dutt, executive managing director (South Asia), Cushman and Wakefield………………………………….Full Article: Source

It’s about to get real (estate)

Posted on 07 February 2013 by Laxman  |  Email |Print

After quite a bit of bingeing — and more than a little purging — the private equity real estate market appears to be finding a bit of equilibrium, even after poor performance and regulatory changes have thinned the ranks of dealmakers in the sector.
Private equity real estate funds raised an aggregate $54.9 billion last year, and a further 451 funds are currently on the road chasing $148 billion Accor ding to data provider Preqin………………………………………..Full Article: Source

India: PE fund exits in real estate fall in 2012

Posted on 21 December 2012 by Laxman  |  Email |Print

Private equity (PE) fund exits in the real estate space have fallen sharply this year compared with 2011, with limited liquidity in the market, a falling trend in property sales and some funds willing to wait for better returns.
There have been PE fund exits to the tune of $288 million (around Rs.1,578 crore today) in the real estate sector so far this year, down from $457.32 million in 2011, according to VCCEdge, which compiles data on venture capital and private equity deals. This exit value includes mainly full exits and those that are disclosed. (That’s in contrast with partial exits where the fund receives money in instalments.)……………………………………….Full Article: Source

Private equity’s European land grab

Posted on 18 December 2012 by Laxman  |  Email |Print

The Blackstone Group has raised a dedicated $4 billion European real estate fund; David Abrams, head of European real estate investment for Apollo Global Management, says his firm has made 30 investments this year in the U.K., Germany, Ireland, and Spain; the Carlyle Group is buying mainly in Northern Europe, which includes Sweden, Norway, Germany, France, and especially the U.K. — isn’t Europe supposed to be shaky ground in which to invest? What gives?
Well, there are deals to be had. European banks, bloated with real estate, have been looking to dump their holdings — the International Monetary Fund estimates that 58 European banks will sell at least $2 trillion in assets over the next two years……………………………………..Full Article: Source

India real estate funds lose sheen

Posted on 14 December 2012 by Laxman  |  Email |Print

The Indian real estate sector, once considered a safe high-return option and now battling a slowdown amid stagnating sales, is facing funding problems with overseas investors.
Private equity companies focussed on real estate are finding it tough to raise funds through foreign high net-worth individuals (HNIs) and institutions alike as India-focussed real estate funds falter on returns………………………………………..Full Article: Source

Lone Star in EUR1bln German property deal

Posted on 13 December 2012 by Laxman  |  Email |Print

The German government has completed its largest privatisation since the start of the financial crisis, selling a €1.1bn portfolio of offices, shops and warehouses to Lone Star, the US private equity fund.
The sale of TLG, set up to manage government-owned real estate in the wake of Germany’s 1990 unification, underlines the depth of investor interest in the German property market at a time of rising prices and rent increases in many cities………………………………………..Full Article: Source

Blackstone said to seek at least $2 bln for Asia fund

Posted on 11 December 2012 by Laxman  |  Email |Print

Blackstone Group LP (BX), the biggest manager of real estate private-equity funds, seeks to raise more than $2 billion for its first property pool focused on Asia, a person with knowledge of the effort said.
The exact amount hasn’t been determined, said the person, who asked not to be identified because the information is private. Tony James, New York-based Blackstone’s president and chief operating officer, hinted at the company’s plans last week at a conference sponsored by Goldman Sachs Group Inc………………………………………..Full Article: Source

India: Reality check for realty prices?

Posted on 05 November 2012 by Laxman  |  Email |Print

Cautious private equity (PE) investors, who burnt their fingers in real estate investments made at 2007-08 peak prices, are now investing on the assumption that prices are not going to increase from current levels for the next three years.
In what could be an indication of price trends in the real estate sector as perceived by many PE players, the expected returns, or IRR, are calculated at current prices………………………………………..Full Article: Source

India: PE funds, realty firms in disputes over exits, corporate governance

Posted on 01 November 2012 by Laxman  |  Email |Print

Several private equity (PE) firms have initiated legal or arbitration proceedings against their real estate partners in India over corporate governance issues or delays that restrict the funds from selling their investments.
New York-based AIG Global Real Estate recently sent a legal notice to Bangalore-based real estate company RMZ Corp. over their equal joint venture project in Hyderabad. AIG wants RMZ to sell its stake in the project as it has been unable to develop it the past few years………………………………………..Full Article: Source

India: Private equity deals in real estate dip 15%

Posted on 30 October 2012 by Laxman  |  Email |Print

Private equity investment in real estate has dropped 15 per cent to Rs 3,480 crore in the first three quarters of this year, according to real estate consultant Cushman and Wakefield. The total transactions till date, for the year are 23, marginally lower than the same period last year, it said.
Of the total investment in the first three quarters of 2012, the first quarter saw an inflow of Rs 2,100 crore. The remaining two quarters recorded Rs 1,380 crore………………………………………..Full Article: Source

India: PE players fund residential realty deals

Posted on 29 October 2012 by Laxman  |  Email |Print

Realty players who are hard pressed on liquidity, and have been turning to the private equity (PE) players for funding, may end up benefitting customers. Industry experts say that while recent deals have been happening more in the residential real estate sector, PE players are investing in projects for shorter duration and with better cash flows.
So, while dev-elopers may like to hold on to the price, the PE investor may wish to exit even at slightly lower returns in stipulated time………………………………………..Full Article: Source

Blackstone chief says time is right for China investments

Posted on 29 October 2012 by Laxman  |  Email |Print

Stephen Schwarzman, chairman and chief executive of the world’s largest private equity-firm, Blackstone Group LP, said now is the time to invest in China as the slowdown in the world’s second-largest economy shows signs of moderating.
Blackstone executives said the firm is already investing at an aggressive pace in property across Asia, so much so that it could become one of the biggest owners of office space in India. The firm sees future opportunities to put money to work as Chinese property developers struggle………………………………………..Full Article: Source

Ernst & Young: Real estate private equity challenged by liquidity issues

Posted on 26 October 2012 by Laxman  |  Email |Print

Real estate private equity fund managers around the world continue to face major challenges stemming largely from ongoing illiquidity within the capital markets. This has left few able to secure bank financing and stifled deal flow, according to Global Market Outlook: Trends in real estate private equity, a new report by Ernst & Young.
The report, based on a survey of 300 global real estate funds, found that even in heavily favored emerging markets, like Brazil and India, deployment of capital by private equity funds has slowed down. This is largely because of the Eurozone crisis and the uncertainty it has brought to markets around the world. The one exception is Russia, where domestic banks continue to fund transactions and new development despite their already high exposure to real estate, providing local investors with the means to execute transactions. (Press Release)

Global real estate private equity industry continues to struggle

Posted on 26 October 2012 by Laxman  |  Email |Print

The consolidation of public finances in Europe is having an increasing impact on consumption and is directly influencing GPD growth of many economies. The current situation has turned out to be the biggest challenge for global economic development.
Although interest rates are expected to be held artificially low for an extended period by central banks, the global outlook for the property sector is heterogeneous, as many banks are reducing their financing capacities due to regulatory requirements………………………………………..Full Article: Source

India: PE players tweak investment strategy for real estate

Posted on 26 October 2012 by Laxman  |  Email |Print

Jones Lang Lasalle’s latest release, Finding Real Value in a Course Correction, highlights how private equity players have made a sustained change to their investment strategy and developers have modified their development mechanics to ensure value creation for their investors and partners during uncertain times. The report also looks at the changing roles that banks and the government could play leading to better asset creation.
The report says private equity (PE) funds are re-aligning the five Ps of real estate investments (portfolio, protection, philosophy, profiling and partnership) and aim at optimal value creation in accordance with the changing market conditions………………………………………..Full Article: Source

Debt fund allocations to Europe total $3.7bln in 2012

Posted on 22 October 2012 by Laxman  |  Email |Print

The market share of debt funds compared to all private equity real estate funds launched in Europe in terms of target equity rose from 15% in 2011 to 20% in the first three quarters of 2012, according to an analysis by Swisslake Capital.
However, the allocation for Europe remains far from adequate at just $3.7 bn (EUR 2.3 bn) so far this year. A year ago, the figure was $3.8 bn. In 2011, a total of $12.1 bn of equity was targeted globally………………………………………..Full Article: Source

PE firm Blackstone inks India’s biggest commercial real estate acquisition deal

Posted on 18 October 2012 by Laxman  |  Email |Print

US private equity firm Blackstone has inked India’s biggest commercial real estate acquisition deal, which will give it 50% stake in a Bangalore builder-owned portfolio of three business parks for $200 million (over Rs 1,000 crore).
The deal beats Citigroup’s acquisition of a Mumbai office building earlier this year for Rs 985 crore, which was bigger than Maple Tree’s Rs 800-crore buyout of 2 million sq ft from Assetz Global Technology Park and Baring PE Partners’ Rs 500-crore investment in RMZ Corp for 6 million sq ft space………………………………………..Full Article: Source

Blackstone closes latest real estate fund at record $13.3 bln

Posted on 11 October 2012 by Laxman  |  Email |Print

Blackstone Group LP closed on its most recent global real estate fund, Blackstone Real Estate Partners VII, raising $13.3 billion, the largest opportunistic real estate fund ever, the company said Wednesday.
The private equity firm raised the funding over the past 13 months from more than 250 investors globally. U.S. public pension plans, were the largest category of investors, Blackstone said………………………………………..Full Article: Source

Rental market’s big buyers

Posted on 04 October 2012 by Laxman  |  Email |Print

Blackstone Group has become the biggest U.S. investor in single-family rental homes by spending more than $1 billion since the start of 2012 to acquire more than 6,500 foreclosed houses in eight metropolitan areas, according to people briefed by Blackstone. The firm also is finalizing a loan for at least $300 million from Deutsche Bank to support this business, these people said.
Numerous private-equity firms have crowded into the business, some as early as last year, looking for a way to bet on the recovery of the housing market. Blackstone’s growing commitment to this strategy offers fresh evidence that the purchases of foreclosed homes, which began as a mom-and-pop pursuit, is gaining legitimacy among the biggest private-equity firms………………………………………..Full Article: Source

India: Private equity investments in reality sector dips by 15 pct

Posted on 04 October 2012 by Laxman  |  Email |Print

Private equity investments in the Indian real estate sector have seen a drop of 15 per cent in the first three quarters of calendar year 2012, compared to a year ago.
This year has so far seen investments of close to Rs 3,500 crore across residential and commercial property segments compared to Rs 4,110 crore in the same period last year, said property advisory firm Cushman & Wakefield………………………………………..Full Article: Source

HDFC property fund plans to raise $500-mln real estate offshore fund by end-2012

Posted on 25 September 2012 by Laxman  |  Email |Print

The private equity arm of Housing Development Finance Corporation, HDFC Property Fund, plans to raise a $500-million real estate off shore fund by the end of 2012.
The company is in talks with sovereign funds, including Government of Singapore Investment Corporation (GIC) and Qatar Investment Authority, to raise the capital. It is also talking to Japanese and US investors, a person having direct knowledge of the fund raising said, requesting anonymity………………………………………..Full Article: Source

Private equity play hots up Bangalore realty market

Posted on 20 September 2012 by Laxman  |  Email |Print

A resilient property market backed by perceptions of high quality standards and professionalism has seen private equity investments of at least Rs 400 crore flow into Bangalore-based developers in the last two months.
Global investment firm Xander has bought a 49% stake for Rs 150 crore in the retail component of Mantri Developers’ integrated township, Mantri Serenity, located on Kanakapura Main Road. Sushil Mantri, CMD, Mantri Developers, confirmed the deal………………………………………..Full Article: Source

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Europe: Real-estate firms hold back on deals

Posted on 19 September 2012 by Laxman  |  Email |Print

Low interest rates are giving many publicly traded property companies in Europe an advantage over private-equity funds, their traditional rivals when it comes to buying property.
But listed companies haven’t fully taken advantage of this competitive advantage, real-estate experts say. Many European real-estate investment trusts already have too much debt on their balance sheets and not many of the high-quality properties that REITs like to buy are on the block, they say………………………………………..Full Article: Source

Obama’s secret plan to prop up housing prices – OpEd

Posted on 06 September 2012 by Laxman  |  Email |Print

Private Equity firms are piling in to the housing market to take advantage of bargain basement prices on distressed inventory. The Obama administration is stealthily selling homes to big investors who are required to sign non-disclosure agreements to ensure that the public remains in the dark as to the magnitude of the giveaway.
Aside from the steep discounts on the homes themselves, the government is also providing “synthetic financing to reduce the up-front capital required if they agree to form a joint venture with Fannie Mae and share proceeds from the rental or sale of properties.”…………………………………….Full Article: Source

Real estate funds don’t rely on market price movement for returns

Posted on 13 August 2012 by Laxman  |  Email |Print

Real estate funds, floated as private equity vehicles, offer an alternative to buying property. But what factors must you consider before deciding whether you should buy a property or invest in a fund? And how conducive is the current real estate market for private equity investment?
An investor who was willing to experiment with this product with any player has now taken a conscious decision to invest only in funds with a track record of good execution and record of giving money back to investors………………………………………..Full Article: Source

Black’s Apollo seeks capital for Asia real estate funds

Posted on 06 August 2012 by Laxman  |  Email |Print

Leon Black’s Apollo Global Management LLC (APO), the private-equity firm that is seeking to rebuild its real estate arm, is raising $750 million for a pair of funds that will focus on commercial properties in Asia.
The AGRE Asia Pacific Real Estate Fund LP filed a private- placement notice last month with the U.S. Securities and Exchange Commission to seek as much as $600 million of capital. The New York-based management company is also teaming up with Bank of East Asia Ltd. to raise $150 million for a related fund that will focus on China, according to a separate July filing………………………………………..Full Article: Source

Blackstone bets on U.S. housing recovery, buys 2,000-plus homes-for-rent

Posted on 20 July 2012 by Laxman  |  Email |Print

Blackstone Group LP has spent more than $300 million to purchase over 2,000 foreclosed homes in order to rent and bet on a recovery of the U.S. housing market, the private equity company’s global head of real estate said Wednesday.
“Our bet is over time, vacant homes will fill up and markets will begin to recover,” said Jonathan Gray, senior managing director and global head of real estate. “Our exit will be to sell the individual homes to the renters themselves, or there could be a very large market for public housing units.”……………………………………….Full Article: Source

India: Realty sector sees $3.2-bln PE exits in 4 years

Posted on 29 June 2012 by Laxman  |  Email |Print

The real estate sector in India has seen $3.2 billion of private equity (PE) investor exits in the last four years, according to a white paper issued by Jones Lang LaSalle India. In rupee terms, this amounts to about Rs 14,720 crore, considering the rate of Rs 46/dollar suggested in the study.
Shobhit Agarwal, joint managing director (capital markets), Jones Lang LaSalle India, said, “The total PE exits from the real estate sector in the 24 months that started January 2012, would be of $3 billion. We expect PE exits of about $1 billion in 2012.” He, however, added the total number of exits during the period would not be known………………………………………..Full Article: Source

P-E has too much money to spend on homes

Posted on 14 June 2012 by Laxman  |  Email |Print

Funds planning to invest more than $6 billion to buy and rent foreclosed homes are finding it easy to raise money. The difficulty is spending it.
The number of low-cost foreclosed homes coming to market has dropped, bulk sales have been slow to materialize and prices are recovering in markets such as Phoenix, making it hard for private-equity firms, hedge funds and pension systems to buy as many homes as they need………………………………………..Full Article: Source

Emerging market real estate investors go local

Posted on 01 June 2012 by Laxman  |  Email |Print

Andrew MoylanInvestors in emerging market real estate are increasingly seeking local fund managers, according to research by Preqin. Fifty-nine percent of capital raised for emerging market private real estate investments in 2011 was committed to fund managers headquartered outside developed markets, such as North America and Europe, the firm found.
“The shift towards investors committing to local emerging market fund managers highlights the increasing sophistication of the real estate industry in many emerging market regions,” Andrew Moylan, Manager of Real Estate Data at Preqin, said………………………………………..Full Article: Source

India: Private equities slow down realty exposure

Posted on 23 April 2012 by Laxman  |  Email |Print

There is bad news for real estate players who are looking for funds from private equity players. PE players in real estate say that funds are drying up due to lack of investment expertise and developers should brace for other sources of funding.
Domestic funds, however, continue to be somewhat bullish on mid-segment residential and redevelopment projects. According to private equity and venture capital database Venture Intelligence, the sector has witnessed 12 investments (amounting to $477 million across 10 deals) during the quarter ended March 2012………………………………………..Full Article: Source

Private equity funding a real estate revival

Posted on 17 April 2012 by Laxman  |  Email |Print

Figures from US consulting group Trepp estimate that more than $US360 billion ($A347 billion) in debt is due to mature in the property sector this year and the total for the five-year period 2012-16 is nearly $US1.73 trillion.
In New York City alone, nearly $US70 billion worth of commercial mortgages that were bundled together and issued as collateral for bonds mature this year. It is expected to result in a rise in recapitalisations, refinancings and building sales………………………………………..Full Article: Source

India: PE funding in real estate drops in Jan-Mar period

Posted on 05 April 2012 by Laxman  |  Email |Print

Private equity (PE) capital infusion into Indian real estate dropped by almost 36% between January and March from a year earlier, as funds opt to spread their risks and invest in smaller deals.
PE funds invested $279.53 million across 12 real estate deals in the first three months of this year, compared with $431.9 million across 10 deals in the same period last year, according to data provided by VCC Edge, a research platform that tracks investments………………………………………..Full Article: Source

Blackstone edges towards $10bln equity target for new fund

Posted on 15 March 2012 by Laxman  |  Email |Print

US private equity giant Blackstone has raised more than $9 bn (EUR 6.9 bn) to date for its latest global fund, Blackstone Real Estate Partners VII, the follow-up fund to BREP VI, a source familiar with the raising has told PropertyEU.
This puts the private equity group on track to hit the fund’s target size of $10 bn. Blackstone Real Estate Partners VII will invest predominantly in the US and Asia, including opportunistic investments such as distressed debt………………………………………..Full Article: Source

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Preqin: Private real estate fund raising remains low

Posted on 28 February 2012 by Laxman  |  Email |Print

Bailey McCann, Opalesque New York: Private real estate fundraising improved slightly in the second half of 2011 but still remains significantly below 2007 levels according to new research from global research firm, Preqin. The report is the result of a survey of 180 institutional investors in private real estate funds.
In the report, Real Estate Investor Outlook 2012, Preqin cites investor caution surrounding broader market volatility as the chief cause for stubbornly low fundraising. Along with volatility, investors noted the slower rate of return from real estate investments as well as existing real estate investment commitments as reasons for staying on the sidelines………………………………………..Full Article: Source

Fundraising for private real estate funds ‘unlikely to improve’

Posted on 08 February 2012 by Laxman  |  Email |Print

Investors are less likely to commit to private real estate funds than they were at any point in the last two years, according to a report by Preqin.
The report also predicted that the fundraising environment was “unlikely” to improve over the next 12 months, with only 36% of investors saying they were likely to commit to new funds this year – 11 percentage points down from 2010………………………………………..Full Article: Source

Could private equity help save the housing market?

Posted on 02 February 2012 by Laxman  |  Email |Print

Private-equity firms are buying up foreclosed homes to turn them into rental properties, with two firms recently pledging to invest $1 billion each in the next few years, according to Bloomberg.
The move builds on a recent push by the Obama administration to turn some 200,000 single-family, underwater homes into rentals to revive the housing market. This will include homes held by Fannie Mae and Freddie Mac, which holds about 32,000 homes that were foreclosed upon………………………………………..Full Article: Source

India: Private equity investments in real estate grew 69pct in 2011

Posted on 13 January 2012 by Laxman  |  Email |Print

Investments by private equity funds in Indian real estate grew 69% in 2011, said research firm Venture Intelligence, which tracks PE and VC investment activity in India.
Of the 69 transactions that happened during the year, 53 had an announced value of $2,679 million compared to $1,582 million across 63 investments in 2010. The year 2011 saw increased private equity activity in the sector as real estate developers faced a cash crunch. This was because of a drop in home sales as well as banks reducing their exposure to real estate companies………………………………………..Full Article: Source

Global property funds face tough 2012

Posted on 06 January 2012 by Laxman  |  Email |Print

Andrew MoylanPrivate equity real estate funds face a challenging fundraising landscape in 2012 as investors grow more cautious about coughing up fresh capital amid growing global economic uncertainty, Preqin said on Thursday.
The research firm’s December survey of 180 institutional investors from North America, Europe and Asia found 53 percent do not expect to make new commitments this year, while 11 percent said they might considering doing so………………………………………..Full Article: Source

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Real estate private equity funds preferred investment vehicle in India

Posted on 06 January 2012 by Laxman  |  Email |Print

According to Jones Lang LaSalle India’s Managing Director Ramesh Nair, the Indian real estate sector has grown rapidly over the last few years. Because of such, India’s real estate stakeholder profile is now evolving from locally-focused, privately-owned enterprises to increasingly corporatized, professional organizations funded with public capital and having multiple market and product strategies.
As a result, Indian real estate has seen a considerable flow of capital in recent years, both from foreign and domestic sources. The developer community is adapting to the requirements of joint venture arrangements with institutional capital sources by providing improved transparency and higher professional standards………………………………………..Full Article: Source

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Red Fort Capital to raise $500 mln property fund

Posted on 04 January 2012 by Laxman  |  Email |Print

Red Fort Capital, an India-focussed real estate private equity firm, is set to raise $500 million fund that will invest in commercial and residential assets in Asia’s third-largest economy, two sources with knowledge of the matter told Reuters.
The company is in the final stages of fund raising, at a time when global fund raising markets are besieged by economic growth concerns, and will formally announce a “closure soon”, said the sources, who declined to be named as they were not authorised to speak to the media………………………………………..Full Article: Source

India: PEs rake in money from realty amid slowdown

Posted on 23 December 2011 by Laxman  |  Email |Print

Amid the perception of gloom and doom in the Indian property market, here’s something to cheer about. The real estate industry has given 1.21 times, or 20 per cent, average returns to private equity (PE) investors in the past four years, compared to the global average of 0.8 times.
Mumbaiand Kolkata, with returns of 1.4 and 1.3 times, respectively, were the top performers, said a report by global property consultant Jones Lang LaSalle (JLL)………………………………………..Full Article: Source

India realty likely to see up to $5 bln PE exits in 2012

Posted on 21 December 2011 by Laxman  |  Email |Print

Private equity PE.L funds are expected to exit between $3 billion and $5 billion worth of Indian real estate investments in 2012, international brokerage Jones Lang LaSalle said on Tuesday.
Most of these investments were made in the country in 2005/06 and are now coming to the end of their 5-7 year cycle, triggering the exit, the brokerage house said in a report………………………………………..Full Article: Source

India: Real estate PE funds find it tough to raise funds

Posted on 20 December 2011 by Laxman  |  Email |Print

Real estate-focused private equity (PE) funds, which have seen falling returns in last three years, are now finding it hard to raise liquidity for the new funds in the sector. So you have a $500-million infrastructure and realty-focused fund from a well-known private bank that is unable to raise the amount for more than eight months. “Investors have got cautious,” a former head of the fund told HT.
“Earlier, PE players would go to investors and pitch the India growth story, and there you were, raising liquidity,” said Avinash Gupta, head, financial advisory, Deloitte India………………………………………..Full Article: Source

India: Realty PE funds to stay invested

Posted on 30 November 2011 by Laxman  |  Email |Print

As valuations in the real estate sector become unattractive, many real estate focused private equity funds that were suppose to exit from their investments in 2012 have got one-year extension till March 2013 from investors.
“It makes sense for limited partners (LPs) to ask the fund to wait for one year than exit now when the valuations in real estate are not attractive,” said Avinash Gupta, head, financial advisory, Deloitte (India)………………………………………..Full Article: Source

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Private capital targets Tokyo property post-quake

Posted on 25 November 2011 by Laxman  |  Email |Print

Private property investment companies from outside Japan say Tokyo is one of their top targets for the next 12 months, with the most active players set to invest close to $1 billion.

Tokyo’s property market has made a surprisingly rapid recovery from the shock of the quake-induced disasters in March. Although the market has been a perennial laggard in recent years, it now looks set to provide stable growth as other markets slip, investors say………………………………………Full Article: Source

India: Private equity players bet on realty sector

Posted on 14 November 2011 by Laxman  |  Email |Print

Real estate private equity (PE) players have become a part of growth story since their entry into India in 2006. Their investment went up to $7.6 billion within a year from $1.2 billion. Subsequently, however, there has been a fall in their investment, primarily attributed to the global financial crisis. In the current calendar year so far, total investment from PEs was around $741 million.
Asset-wise, large investments (commercial, mixed use, residential, SEZ and township) were made during 2007 and 2008. Each of these two years saw 57 investment deals………………………………………..Full Article: Source

Hong Kong property transactions fall 14pct

Posted on 03 November 2011 by Laxman  |  Email |Print

The number of Hong Kong property transactions agreed to in October fell 14% from September and 53% from a year earlier, Land Registry figures showed, as potential home buyers retreated because of rising mortgage rates and volatile markets.
The total came in at 5,675 transactions, valued at 27.6 billion Hong Kong dollars ($3.55 billion), down 12% from September and 52% from a year earlier………………………………………..Full Article: Source

Private equity real estate fundraising slows in Q3

Posted on 11 October 2011 by Laxman  |  Email |Print

Private equity real estate fundraising has slowed slightly in the third quarter of 2011, research by Preqin has shown. According to the firm, 17 private equity real estate funds reached a final close in Q3, raising an aggregate $11 billion — a 16% decline on the $13.1 billion which was raised by 27 funds in Q2 2011.
The more difficult fundraising environment follows a decreasing number of leveraged buyouts. Preqin’s quarterly deals data showed 674 private equity-backed buyouts deals worth an aggregate $60.6 billion were announced in Q3, a 23% decrease in value from the previous quarter’s total of $78.7 billion……………………………………….Full Article: Source

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