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...New York Community Bancorp and its chief risk officer parted ways shortly before the regional US lender reported larger than expected losses from real estate lending that hammered the bank’s stock....
...Both firms were founded in New York more than three decades ago....
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...to new money....
...A portfolio manager at Izzy Englander’s Millennium Management is preparing to launch what would be the biggest new hedge fund in more than a year after securing $3bn of capital from his employer and taking...
...As larger and more dominant players such as Millennium and Citadel have largely closed to new capital, smaller firms have benefited....
...News of the job cuts were first reported by Bloomberg....
...“Succession within Ardian is a real issue,” said one longtime executive....
...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...Property investment fell 9 per cent year on year in January and February, while new construction starts plummeted 30 per cent....
...Instead, he reshuffled Millennium’s top ranks and put in place a new organisational structure that divided responsibilities....
...Service, which feeds into real estate platforms such as Zillow....
...Meanwhile, Germany’s real estate market faces a reckoning of its own....
...His departure coincided with a reshuffle of Millennium’s top ranks and a new organisational structure that divided responsibilities....
...Sotheby’s Real Estate was spun off from the auction house — the venue for Azar’s launch party — in 1976....
...James Whelan, president of the Real Estate Board of New York, the industry trade group, called her a trailblazer....
...The squeeze on commissions is bad news for the 1.6mn Americans currently registered to work as real estate agents, as well as the companies that employ them....
...Last week my New York-based colleague Ortenca Aliaj and I revealed that Izzy Englander’s Millennium Management is in advanced talks to put billions of dollars to work with smaller rival Schonfeld Strategic...
...Millennium and DE Shaw, which are multi-strategy firms, took joint second place in the all-time rankings, making $5.7bn and $4.2bn last year respectively....
...One of New York’s biggest property developers is launching a $1bn fund to invest in the city’s distressed office buildings, potentially heralding a new phase in the commercial real estate crisis....
...The firm was among those that picked up inflows when bigger managers such as Millennium and Citadel were closed to new money with long waiting lists to get in....
...Many of the more newsworthy collapses, however, have been brought about by new investors leveraging the real estate of department stores....
Rising interest rates and a ‘talent war’ are dampening enthusiasm for the multi-manager strategy
...This week, however, it caused a frisson in the real estate world....
...UK-listed landlords are eyeing buying opportunities in the depths of the real estate downturn, as high debt costs force some owners to sell....
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