A bill passed by New York’s State Assembly has expanded NYC’s rent regulations governing what landlords can charge and when they can convert apartments to market rates, but it faces increasing opposition in the State Senate.
Real estate GPs hope to avoid new laws requiring SEC registration thanks to existing investment company rules but it could be a mixed blessing at best: unregistered funds could find it even harder to raise cash from LPs, and restrict their ability to close deals. PERE magazine October 2010 issue
Blackstone is piloting a new interactive LP portal that will allow investors to delve into the firm’s performance data across asset classes, geographies and sectors like never before. It will also allow LPs to import data from other GPs into the Blackstone system.
The $138bn pension has joined its neighbour CalPERS in supporting legislation that would prevent the two funds from investing with real estate managers who try to convert rent-controlled apartments. CalSTRS staff will also consider possible penalties for GPs who abuse the ban.