Is US private equity 2.0 calling the market right?

摘要

The second wave is coming. Earlierthis month Los Angeles-based fund manager Karlin Asset Management bought a secondary office building in Peterborough from the Glanmore Property Fund for £16m. It is not the sort of deal that might normally be worthy of much comment but it marks the arrival of the second tier of US private equity investors. Some of the big beasts from across the pond have been here for years amassing giant portfolios: Blackstone, Carlyle and Oaktree (analysis, p26-p28). Some came over at the start of the credit crunch: Lone Star, Cerberus and Kennedy Wilson. The rest have rushed to get into the market this year: Angelo Gordon, Starwood, KKR, Pimco and Northwood.