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...German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko....
...Public records show that the Delaware-registered entity Son used to buy the property, SV Projects LLC, mortgaged the house to secure a ¥10bn loan — worth $92mn at the time — from Japanese bank Mizuho to...
...Citadel, which manages roughly $61bn, made a record $16bn in profit for investors in 2022, according to research from LCH Investments....
...Over two decades, René Benko grew his Signa property empire from humble beginnings fixing up apartments in his home city of Innsbruck to its apex as one of Europe’s most successful property developers....
...empire before its collapse....
...to Signa Holding, the company at the centre of René Benko’s crisis-stricken European luxury property empire, on Tuesday announced they were making most employees of the company redundant as they raced to...
...Property owners prospered in the world of cheap debt that made real estate investment relatively attractive. But that high has led to a predictable reckoning....
...“Instead of developing their own trading strategy, defendants stole the results of Jane Street’s long-term and hard-earned investments — its intellectual property and trade secrets,” Jane Street alleged...
...One customer tells the Financial Times she is concerned about her investment after the liquidation — the compound will still be managed by an affiliate of Evergrande Property Services....
...His investment vehicle was ultimately paid $578mn for part of its equity holdings in WeWork....
...Still, the 72-storey, neo-gothic tower with the copper-green pyramidal top claims a special place in Trump’s empire: It ranks as one of the former developer’s best property investments — a place where he...
...The 62-year-old Australian, whose audacious poaching of more than 20 senior executives from asset manager Barings last month has already sparked litigation, spent 20 years running a property business that...
...Robert Koenigsberger, founder of the Greenwich, Connecticut-based investment firm, told the Financial Times that distressed bonds of Chinese developers such as Country Garden, which currently trade at a...
...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....
...in investment banking raised questions about its seriousness....
...In today’s newsletter: An Austrian money trail UAE deals face scrutiny in UK China’s ‘snowball’ derivatives melt Signa’s missing millions The collapse of billionaire René Benko’s property empire Signa...
...thing to start: New York Community Bancorp has replaced its chief executive and identified “material weaknesses” in internal controls, amid worries about the US regional lender’s exposure to the commercial property...
...20 openings later, her disruptive successes have put paid to much of the nepo baby-centric speculation that initially surrounded her appointment – and made Rosewood popular with the industry’s blue-chip investment...
...The chief investment officer of US-based Muddy Waters, Carson Block, told the Sohn investment conference in London that there was “a lot of rot in its book”, and that many of the borrowers whose loans make...
...An educational technology empire rapidly assembled by Byju’s during a pandemic funding boom is now set to be dismantled, as what was once India’s most valuable start-up looks to asset disposals to settle...
...The green investment backlash led by US Republicans has led to investment funds pulling more than $13bn from BlackRock, the world’s largest asset manager....
...The Biden administration has moved to ban some US investment into China’s quantum computing, advanced chips and AI sectors in an effort to stop the Chinese military from accessing American technology and...
...Stapf’s task is greatly complicated by the way Signa’s founder Benko, 46, set up his property empire....
...“Such a move is somewhat expected, but it still casts a shadow over the already slow restructuring process,” said Gary Ng, a senior economist at investment bank Natixis....
...They date back to the Victorian era, when they were created to widen access for individual investors to investments across the British empire....
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