Too Much Cash - 06.29.2010
Last week both the Wall Street Journal and New York Times ran articles about the piles of capital that has built up in the coffers of private equity shops, a record $280 billion to be exact for US-based buyout firms. Most of the cash had a five-year string on it, and for some the deadline to invest is fast approaching. The conundrum the private equity guys have is that if they have to hand it back, raising new capital isn’t so easy anymore. So as they scramble for investments, what’s on everyone’s mind is the specter of the firms lowering the bar on the quality of investments they make to put the cash to work. Closer to home, the story is the same, if not more extreme on the real estate front. The lack of action is deafening and it appears that most investors are going back to the beach this summer to wait it out and hope for transactional activity to emerge in the 4th quarter. Clearly this is going to be a slow and steady return to the “new normal,” and the full impact on real estate organizations is still unclear. Don’t forget the coconut oil.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

Job Opportunities LOCATE A JOB

COSTAR GROUP
Senior Sales Representative
(CHICAGO) The representative will position the company as the premier source for independent, commercial real estate research, advisory, and risk management services; achieve targeted monthly and annual sales and revenue quotas; and work closely with PPR’s research team to create and close revenue-generating opportunities; among other duties.

ING CLARION
Associate – Defined Contribution, Marketing & Product Development
(NEW YORK CITY) The associate will launch Clarion Property Trust and the Lion Diversified RE Fund as well as other strategic new business initiatives; prepare ad-hoc reports, models and analysis for senior management; and provide detailed product knowledge and support for sales teams; among other duties

CB RICHARD ELLIS
Sr. Transaction Manager
(SAN FRANCISCO) The senior manager will provide real estate transactions services to customer(s) with focus on effective management of real estate functions, contracts and negotiations and all transaction services required of CBRE under the agreement with the customer(s); effectively manage a large volume of transactions related to GCS business line; and assist in defining CBRE customer(s) real estate requirements; among other duties.

GLOBAL FUND INVESTMENTS
Retail Property Staff Accountant
(MIAMI BEACH, FL) The staff accountant will oversee daily bookkeeping of a designated portfolio of community and neighborhood shopping centers; monthly closing and preparation of reporting packages on designated portfolio; and perform annual budgeting duties for designated portfolio; among other duties.

LUCESCU REALTY
VP – Finance and Capital Markets
(NEWPORT BEACH, CA) The VP will interface with Lucescu Realty clients when obtaining debt and equity financing; act as a primary point of contact and relationship manager; and remain abreast of fluctuations in the capital markets and submarket activity; among other duties.

INVESCO REAL ESTATE
Investment Analyst
(DALLAS) The analyst will be responsible for supporting the commercial real estate mortgage and structured finance team's note acquisition, loan origination and debt restructuring efforts; among other duties.

HEITMAN
Compliance Officer
(CHICAGO) The compliance officer will administer the public securities compliance programs to ensure compliance processes and procedures are integrated and aligned with business processes; evaluate and review existing programs, policies and procedures based upon changed requirements; and review marketing materials, advertising, disclosures, notices, compliance related regulatory reports and forms for compliance with rules and regulations, and maintains a database of approved materials for use in presentations and client meetings; among other duties.

COHEN & STEERS
Research Associate
(NEW YORK CITY) The associate will update and maintain proprietary database of analyst estimates for each security within coverage universe; run daily valuation models after the market close to assist the investment team in analyzing relative value; assist analysts with macro-level sector research and individual security analysis, including updating earnings (FFO) and net asset value models; among other duties.

Promotions SUBMIT A PROMOTION

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CUSHMAN & WAKEFIELD
(EAST RUTHERFORD, NJ) Cushman & Wakefield is promoting Jon Marks to senior director and Miles Loo, Jr. to managing director in the New York office.

HALSTEAD PROPERTY
(STAMFORD, CT) Halstead Property is promoting Marjorie Carano from sales manager to director of sales.

New Hires POST A NEW HIRE

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Anthony J. LoPinto

Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.

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