Tuesday, 30 September 2014
Last updated 5 hours ago
Jan 14 2008 | 12:21pm ET
RLJ Development, the largest African-American hotel investment firm in the U.S., has closed its third private equity real estate fund with $1.2 billion in commitments.
The RLJ Real Estate Fund III will seek to buy and develop upscale service hotels in major metropolitan areas. The Bethesda, Md.-based firm plans to use upwards of three-times leverage, and will focus on using “premium brands.” RLJ Development, which is led by BET founder and Charlotte Bobcats owner Robert Johnson, is already one of the largest Marriott franchisees in the U.S.
“We are proud to close our third fund and delighted with the overwhelming response from the institutional investment community,” Johnson said. The fund boasts 16 institutional investors as clients, including the General Electric Pension Trust and General Electric Real Estate Equities.
“Our mission is to deliver superior risk-adjusted returns for our investors with a highly-focused investment strategy,” Thomas Baltimore, president of RLJ Development, said. “The backdrop of a slowing economy and tighter credit should create attractive buying opportunities for our well-capitalized firm.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...