Fund Management

Connecticut-based Drum Capital, led by Scott Vollmer, will commit capital to distressed debt, turnaround and restructuring funds.

PERE looks back at the year just passed for the trends that mattered most. Today we look at trend number four - sovereign wealth funds have become major forces in global real estate investing.

PERE looks back at the year just passed for the trends that mattered most. Today we look at trend number four - sovereign wealth funds have become major forces in global real estate investing.

The French retailer has pulled out of the bidding for Migros, as buyout firms such as Kohlberg Kravis Roberts and BC Partners are set to table bids tomorrow for the Turkish company.

Latest numbers from CMBOR confirm the third quarter marked a high point for UK buyouts as fourth quarter figures show an 80% decline without a transaction of the scale of Alliance Boots.

Asia Alternatives goes large * China sovereign fund dampens foreign fears * Dubai's HBG nears $200m target * Ex-Temasek executives fundraising for China * First close for Sharia vehicle on $200m * Aureos backed by Kazakhstan FoF

Guido Gamucci is chairman of Permira's operation in Asia. Previously responsible for the firm's Milan office, he relocated to Japan in 2005 and is poised to move to Hong Kong when the UK buyout group opens its second office in the region next year. In October, Permira made headlines for doing not just one, but two large deals in Asia. First came an $838 million investment for a 20 percent stake in Galaxy Entertainment, a Macau-based casino operator; then followed a $2.2 billion secondary deal to acquire Arysta Lifescience, a Japanese agrochemical company, from Olympus Capital. For Permira, it was the first investment in Japan since its arrival two years ago.

In the past, private equity-backed Chinese companies often listed in London and New York. Now the smart money is on well-designed "onshoring" strategies instead, writes Robert Abbanat.

Western GPs seeking access to China are pondering how the growth of locally denominated funds might work to their advantage.

Russia's emerging private equity market is growing up. Leverage levels are rising as deals become more mainstream and international interest grows. But investing in Russia is still a challenge for non-locals. Nicholas Lockley reports.