Lone Star Halves Size Of Next Real Estate Fund As The Best Deals Dry Up
Lone Star has been one of the savviest investors of the post-Lehman era, snapping up distressed assets and listed companies across the globe and making big profits for its investors. But now it is betting that real estate has reached a point in the cycle where the most profitable deals are gone, and risk is starting to outweigh reward.
In late December the Dallas-based company filed a regulatory notice indicating it was launching its latest global fund, Lone Star Real Estate VI. The filing said the fund's target would be $3B of equity. That is about half the amount raised for its last fund, which closed in May 2016 with $5.9B of equity.
Lone Star is bucking the trend of its big private equity peers, where the fashion is for ever larger funds even at what is regarded as the tail end of the cycle. Blackstone is reported to be about to raise…
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Grosvenor's Bermondsey Rejection Is A Microcosm Of London's Affordable Housing Quandary
The decision by Southwark Council planning officers to recommend rejecting Grosvenor's 1,342-apartment build-to-rent scheme provides a rare chance to examine in detail the maths and assumptions behind a controversial affordable housing planning decision. And in the case of this scheme, it…
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This New Solar Technology Means In Future All Buildings Could Be Energy Self-Sufficient
A new technology is being trialled which could soon mean that buildings are easily and cheaply clad in enough solar panels to supply all of their energy, even in places where the sun doesn't shine much. Polish physicist and entrepreneur…
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These 3 Private Equity Firms Are Willing To Bet On UK Shopping Centres
One of the biggest news stories of last year was a private equity firm, Brookfield, pulling out of a deal to buy shopping centre owner Intu. But below the level of corporate M&A, private equity firms are starting to dip…
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