Former REIT veterans Robert Solmson and Ed Ansbro have teamed up Georgica Advisors founder Richard Reiss to launch private equity real estate firm, Fairwood Capital. The first fund will target hospitality in US metropolitan areas.
The next year will challenge the private equity industry, in terms of returns and on the regulatory front, writes Andrew Lebus.
As unfunded commitments are looking harder to meet, the Euronext-listed fund of funds is receiving increased calls from its managers of distressed funds.
The San Francisco-based private equity firm acquired US Silica from Harbinger Capital Partners in a deal including more than $102m in debt.
The Northern European buyout firm has more than doubled the size of its previous fund, and opened offices in Oslo, Frankfurt and London.
The Switzerland-listed fund of funds is selling its stakes in seven private equity funds in order to free up cash for capital calls and further fund commitments.
The world's largest private manager of infrastructure assets also saw its fiscal 2009 half-year profit plummet 43% to A$604m. Its unlisted funds continued to post strong base and performance fees, while listed funds did not.
The Switzerland-listed fund of funds is selling its stakes in seven private equity funds in order to free up cash for capital calls and further fund commitments.
The firm has closed a venture only fund after having a hybrid private equity and venture model in place since 1991.
KKR's publicly listed debt affiliate made $49m in third quarter profits but will suspend its dividend to preserve liquidity.