- Contrarian Investor Sees Economic Crash in China
- Further Slide Seen in N.Y. Commercial Real Estate
- US Private Equity Fund-Raising Falls 68% To $95.8 Bln In 2009
Contrarian Investor Sees Economic Crash in China – NY Times
James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other highflying companies whose stories were too good to be true.
Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc…..
Further Slide Seen in N.Y. Commercial Real Estate – NY Times
There are 920 football fields of available office space in Manhattan. More than 180 major buildings totaling $12.5 billion in value — from Columbus Tower at 1775 Broadway to the office tower 400 Madison Avenue — are in trouble, meaning in many cases they face foreclosure or bankruptcy, or have had problems making mortgage payments. Rents for commercial office space fell faster over the past two years than in any such period in the last half century.
“I have been in the business for 12 years. I have never seen it this bad,” Peter Von Der Ahe, vice president of investments for the brokerage Marcus & Millichap, said of New York City’s commercial real estate market. According to more veteran colleagues, he said, things have not been so dire since at least the early 1990s…..
US Private Equity Fund-Raising Falls 68% To $95.8 Bln In 2009 – Wall Street Journal
That fund-raising was slow in 2009 will come as a surprise to no one. If there is a surprise in the numbers, it lies in how equal opportunity the slowness was.
Across the U.S. private equity spectrum, 331 funds raised $95.8 billion, down 68.1% from the $299.9 billion raised by 508 funds in 2008, according to figures from our LP Source database. With the lone exception of secondary funds, every sector experienced sharp slowdowns, as limited partners clutched their pocketbooks close.
In compiling our fund-raising data, we include only capital that was raised in the 2009 calendar year. For example, although Clayton Dubilier & Rice raised a total of $5 billion for Clayton Dubilier & Rice Fund VIII LP, only the $1 billion raised in 2009 is included in our tally. Our data includes buyout, venture, growth, secondary, distressed, mezzanine and fund-of-funds firms…..
Tags: China, Crashes, Jim Chanos, New York, Private equity, Real Estate, Short sellers
