News & Analysis

Even before the financial markets went off a cliff, we at PEI Manager found ourselves writing the word “granular” a lot. This usually came in the context of our reporting that LPs demand more granular detail from their GPs.

The Boston skyscraper was sold for a reported $20.1m, plus the assumption of a $640.5m mortgage, after Broadway Partners defaulted on a loan. Broadway paid $1.3bn for the skyscraper and two other buildings in 2006.

MAOS is the firm’s third investment in Asia and its first add-on for Shinsouki, a Japanese parking lot operator it acquired last year. The investment was made from its debut Asia fund, which is targeting a $100m final close.

Swiss alternatives firm Capital Dynamics will augment its fund of funds platform by assuming management of HRJ’s $2bn in assets. The US fund of funds was reportedly burned by its over-commitment strategy last year, causing it to breach debt covenants and seek secondary sales.

The troubled buyout firm has created the position of general counsel. Philip Price, who fills the role, was formerly the head of operations for SRM Global, a hedge fund group that sued the UK government over the Northern Rock crisis.

CalPERS, USS and CalSTRS are among the LPs calling for GPs to provide material consideration of environmental, social and corporate governance risks to their portfolios, according to a survey conducted by the UN’s Private Equity Principles for Responsible Investment.

HgCapital and Electra Partners stressed yesterday that listed funds with longer-than-average holding periods can achieve excellent returns and still find interesting investment opportunities, despite recent difficulties encountered by the sector.

The distressed investment specialist is surrendering all its stock in Thornburg Mortgage and has resigned its board seats. The residential mortgage lender has been given a grace period by lenders to come up with a restructuring plan.

David Loglisci and Henry Morris, a former political advisor to the US public pension, allegedly extracted sham ‘finder’s fees’ from private equity and hedge funds including Carlyle, Riverstone, Aldus, Falconhead, Odyssey, Access Capital, GKM Newport, Pequot and PCG.

Terra Firma is splitting its chairman and CEO roles, with Terra Firma veteran Tim Pryce taking on the day-to-day running of the business. Hands’ responsibility will cover investors, investments and strategy as the group’s chairman and CIO.