Warburg invested $126m in polyester manufacturer Wellman in 2003 but saw the company collapse into bankruptcy in February amid rising raw material costs and a mountain of debt.
The deal, which includes residential land in Arizona, California and Florida, follows on the firm’s $150m JV investment with Riverway Properties to target the Houston residential market.
In the midst of the global economic storm it is more important than ever for private equity firms to do what they do best – due diligence, writes Thomas Gibian.
Warburg invested $126m in polyester manufacturer Wellman in 2003 but saw the company collapse into bankruptcy in February amid rising raw material costs and a mountain of debt.
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 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 Canadian pension suffered a negative 8.5% return in the second quarter owing largely to a decline in its public equities portfolio, which has in turn increased its exposure to private equity, real estate and infrastructure.
The Canadian pension suffered a negative 8.5% return in the second quarter owing largely to a decline in its public equities portfolio, which has in turn increased its exposure to private equity, real estate and infrastructure.