Lill-Karin Skaret, a 67-year-old grandmother from Namsos, Norway, was traveling to a lakeside vacation villa near India’s port city of Kochi in March 2010 when her car collided with a truck. She was rushed to the Amrita Institute of Medical Sciences, her right leg broken and her artificial hip so damaged that replacing it required 12 hours of surgery.
About two years after TPG Capital expanded into real estate, the firm started by David Bonderman and James Coulter has invested more than $2 billion of equity in properties including California malls, a homebuilder, Florida apartments and office buildings in the U.S. and London.
Britt Harris arrived at the Teacher Retirement System of Texas in 2006 from the world’s biggest hedge fund with a mandate to improve the pension’s performance. He also brought a Wall Street attitude about pay.
Blackstone Group LP, the world’s biggest manager of alternative assets, has $1.5 billion of capital commitments for its first Asian property fund, targeted at $4 billion, according to a letter sent to investors.
New Jersey ’s $70.2 billion pension fund for teachers and government workers is negotiating reductions in fees and expenses for private managers after paying $125 million last year, said Timothy Walsh , director of the Division of Investment.