Zoe Hughes
CalPERS this week succumbed to public pressure by banning investments with managers who target rent-controlled properties for conversion to market rates. Such deals have burned the pension politically and, in the case of Stuy Town, financially.
Steven Rattner and Howard Margolis (pictured) will manage the family foundation of New York mayor Michael Bloomberg, alongside 18 other former Quadrangle employees. Willett is operating from Bloomberg's Upper East Side Manhattan office.
Steven Rattner and Howard Margolis will join the family foundation of New York mayor Michael Bloomberg, alongside 18 other former Quadrangle employees.
A raft of executives has departed Credit Suisse Real Estate Private Fund Group including directors Manjul Ramchandanii, Lee Purcell, Doug Kinney, Alok Gaur, Daniel Taylor and Ben Linder. Anthony Carpenito is now heading the group, which has been rolled into the bank’s private equity fundraising arm.
GPs and LPs alike are starting to mull new approaches to compensation and incentivisation. In the final installment of a three part series, Zoe Hughes discusses splitting a fund's assets into good deals and bad deals - with only the good deals included in carry calculations.
GPs and LPs alike are starting to mull new approaches to compensation and incentivisation. In the second of a three part series, Zoe Hughes describes one theory: to prevent GP teams from falling apart through a lack of carry, LPs and GPs should create a pool of capital to fund retention bonuses for staff.
Jennifer Aleman Hutter and Elizabeth Weiner have formed a consulting firm, focused solely on the GP-side of the placement business.
Bill Thompson, Walter Stackler, Pamela Wright and Fredrik Elwing have all left to join the New York-based bank. Greenhill said its expansion into the real estate capital raising business was a ‘natural step’.
The US banking regulator, the FDIC, has placed 702 institutions on its “problem list”. Lenders have written off 2.6% of their real estate loans to date – the highest level since records began.
Lawmakers in the UK have urged the British government to reject European proposals for wide-ranging regulation of the alternative funds universe as they currently stand, especially if there is no comparable legislation in the US.