Headline roundup: Multi-hundred million dollar gambling tax repeal demanded by Fund VI casino

The potentially multi-hundred million dollar Pennsylvania gambling tax repeal demanded by the Walton Street Real Estate Fund VI casino rapidly generated headlines. $60 million in refunds would be owed by Pittsburgh alone: “Rivers Casino challenging Pittsburgh’s slot tax”: Pittsburgh Post-Gazette “Rivers...
Filed in: Updates

Walton Street portfolio property sues to repeal Pennsylvania tax worth $600 million+

Unite Here discovered that the Walton Street Real Estate Fund VI casino property in Pennsylvania (Rivers Casino Pittsburgh) has sued Pennsylvania seeking to abolish the portion of casino taxes that directly benefits municipalities where casinos are located and has been on the books since 2006. If successful,...
Filed in: Updates

Walton Street Capital lagged peers in fundraising in 2015; has persisted in misaligning GP/LP interests

Walton Street Capital raised funds at a pace well below its peers in 2015. Investors might want to ask the manager the following questions: Will Fund VIII (currently in fundraising) be another late cycle flop like Fund V? Walton Street’s failed investment streaks suggest a lack of discipline as market...
Filed in: Updates
At first close, Walton Street Real Estate Fund VIII slowest in market

At first close, Walton Street Real Estate Fund VIII slowest in market

Updated Nov. 20. Walton Street Capital has continued to raise funds at a pace below its peers for its newest flagship fund, Walton Street Real Estate Fund VIII, which reached an initial close mid-November.[i] Walton Street had the slowest pace among PERE50 managers with opportunistic US-focused funds...
Filed in: Updates
How many failures does Arizona PSPRS need to cut a manager loose?

How many failures does Arizona PSPRS need to cut a manager loose?

Walton Street Capital has delivered a string of failures to the Arizona Public Safety Personnel Retirement System. But PSPRS investment staff have decided to reward Walton Street with another $60 million commitment to the real estate manager’s newest fund (Walton Street Real Estate Fund VIII). Walton...
Filed in: Updates
Walton Street scores a “D” again as Debt Fund misses another deadline

Walton Street scores a “D” again as Debt Fund misses another deadline

Walton Street Capital reached a close at 36% under target for its debt fund at only $320 million on September 8,[i] despite its September 2015 final close deadline (already delayed from June 2015 as of at least October, 2014).[ii] The anemic Walton Street Real Estate Debt Fund fundraise echoes Walton...
Filed in: Updates
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