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.

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

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


No more than one submission per company will be considered per week.
Submissions with multiple names will be capped at three for coverage in Executive Watch.

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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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