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...Canary Wharf Group Investment Holdings, one of the primary entities within the group’s corporate structure, received written confirmation from Brookfield and QIA that the two shareholders would provide financial...
...Large private property trusts similar to Breit managed by investment groups, including Starwood Capital and Brookfield, also reported cash flows falling short of distributions in 2023, filings show....
...Sam Pollock, chief executive of Brookfield’s infrastructure investment arm, told the Financial Times that he believes a “deglobalising” world, where large companies are bringing production closer to home...
...Rival Brookfield has also invested heavily in these high-tech facilities....
...Moody’s is to leave its office in Canary Wharf in favour of new premises in the City, making it the latest high-profile financial tenant to abandon London’s Docklands for the Square Mile....
...Further reading— Brookfield: inside the $500bn secretive investment firm— Will Canary Wharf become a financial ghost town?— After Brookfield’s asset shuffle what cards are left to be played?...
...Kering and its larger rival LVMH were the buyers in three of Europe’s largest five property sales last year, according to MSCI, with LVMH’s roughly €1bn purchase from investment firm Brookfield on the Champs-Élysées...
...One scoop to start: Brookfield Asset Management is in advanced talks to buy a majority stake in $22bn private credit manager Castlelake as the world’s second-largest alternatives group uses acquisitions...
...Loans from the fund are typically extended for up to 20 years, secured against property assets and carrying a “commercial” interest rate....
...Wall Street firms could be at risk in the face of a $2tn “wall” of property debt coming due in the next three years....
...Brookfield Property Group said the FDIC was running a “secret” process to sell Signature Bank loans....
...Competitors such as Apollo Global, KKR, Carlyle Group and Brookfield have all designed similar funds for rich individual investors....
...The Financial Times reported last month that Blackstone has built a $560mn liability to the US as a result of its return promise after the fund lost value last year....
...It underscores the financial risk Blackstone assumed to draw UC’s investment by promising high returns on property investments hit by rising interest rates....
...Brookfield has hired Sir Ron Kalifa, the former head of payments group Worldpay, to lead its push into financial infrastructure assets as the Canadian investment group expands further beyond the property...
...Apollo, Brookfield, Carlyle, KKR and JPMorgan all declined to comment....
...Among current predictions, Blackstone’s president Jon Gray said that the commercial property industry sector has or will soon reach its bottom....
...Fundraising has been sharply lower in 2023, with Brookfield’s recent raise representing almost two-thirds of the $45bn taken in by all infrastructure funds, according to Preqin, a data provider....
...Aareal, which is owned by Advent International and Centerbridge Partners, and its listed German peer Deutsche Pfandbriefbank have been particularly hard-hit by their exposure to US commercial property....
...The Banks Group, which was founded in 1976, also develops property in the north of England and Scotland and it mined coal for more than 40 years until 2020....
...Refinancing struggles The financial pain will not fall evenly across the wider property market....
...Blackstone cut back its total spending on new property investments from about $47bn in 2022 to about $9bn in the first three quarters of 2023....
...Private equity group Brookfield and the Qatar Investment Authority, which have owned the east London financial centre since 2015, on Wednesday announced an equity infusion of £300mn and a £100mn revolving...
...KKR and Brookfield have also bought large insurers in recent years in an effort to grow their assets. Blackstone has taken a different approach....
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