Abu Dhabi-based investment manager Lunate and HPS Investment Partners announced that Lunate will anchor a new platform with a commitment of at least USD 1 billion. The vehicle, named the HPS Strategic Solutions Partners Platform, will focus on privately negotiated preferred and common-equity investments as well as related debt instruments in large corporates primarily in the United States and Europe. The partners also say that investors based in the Middle East will be able to access the platform. Lunate manages over USD 110 billion and is part of Abu Dhabi's push to build a strong alternative investments hub.Read more

Cushman & Wakefield reported a solid third-quarter performance, with revenue rising 11% year-on-year to USD 2.60 billion, supported by strong growth in the Americas. The company's adjusted earnings per share (EPS) stood at USD 0.29, higher than analyst expectations of USD 0.27, while adjusted EBITDA reached USD 159.6 million. Net income rose to USD 51.4 million. Alongside this, the firm prepaid USD 100 million of term loan debt to improve leverage and raised its full-year 2025 adjusted EPS growth forecast to between 30% and 35%.Read more

Mortgage rates in the United States declined last week, with the average 30-year fixed-rate mortgage easing to around 6.17%, the lowest level in about a year. The drop follows the Federal Reserve's recent 25-basis-point rate cut, though further reductions are unlikely soon as Treasury yields have risen. The lower rates have encouraged refinancing activity but have not provided a major boost to home sales, which remain constrained by high property prices, a cooling labour market, and growing economic uncertainty.Read more

Saudi Arabia is reportedly steering its USD 925 billion Public Investment Fund (PIF) away from real estate gigaprojects that have dominated its Vision 2030 agenda over the past decade. The revised strategy aims to emphasise sectors such as logistics, mineral exploration, artificial intelligence, clean energy, and religious tourism. The shift reflects mounting pressure on PIF to deliver stronger near-term returns following delays in large-scale developments like NEOM and other futuristic ventures under Crown Prince Mohammed bin Salman's economic diversification initiative.Read more

Larsen & Toubro (L&T) has secured multiple power infrastructure contracts in Saudi Arabia valued between INR 2,500 crore and INR 5,000 crore. The orders include building a gas-insulated substation and developing over 420 km of overhead transmission lines. These projects are part of Saudi Arabia's National Renewable Energy Programme (NREP), which aims to modernize and strengthen the national electricity grid to integrate renewable power. The development also reinforces L&T's growing presence in the Middle East's power transmission sector.Read more

The UK's Competition and Markets Authority (CMA) has officially closed its investigation into seven leading housebuilders Barratt Redrow, Persimmon, Taylor Wimpey, Bellway, Berkeley Group, Bloor Homes, and Vistry Group after accepting binding commitments to address concerns of possible anticompetitive conduct. The firms have jointly agreed to contribute GBP 100 million (USD 134 million) to affordable housing schemes, stop sharing confidential pricing information, and strengthen compliance systems. The CMA decided to close the case without concluding whether competition law had been breached, marking the end of a months-long inquiry.Read more

Norway's sovereign wealth fund, the world's largest, reported a profit of about USD 103 billion in the third quarter, marking a 5.8% return on investment. The growth was mainly supported by strong equity performance in sectors such as basic materials, telecommunications, and finance. The fund's return was slightly below its benchmark index by 0.06 percentage point. With a diversified portfolio spanning equities, bonds, real estate, and renewable energy, the fund continues to reflect steady global investment performance.Read more

Privately held Cygnet Energy Ltd. has announced an all-cash acquisition of Kiwetinohk Energy Corp. in a deal valued at about CAD 1.4 billion (around USD 998.29 million), including debt. The offer values Kiwetinohk at CAD 24.75 per share, reflecting a 10.4 percent premium to its last closing price. The merger will combine their operations in Alberta's Montney and Duvernay regions, creating a stronger producer with over 44,000 barrels of oil equivalent per day. The transaction is being funded by NGP Energy Capital Management and The Carlyle Group and is expected to close in late December.Read more

The FBI recently searched the Newport Beach offices of Continuum Analytics, a California-based real estate investment firm tied to defaulted loans worth around USD 160 million. The loans, linked to Cantor Group funds, were reported by Zions Bancorporation and Western Alliance Bank. Legal correspondence indicates that a grand jury has been convened and that both banks have filed separate lawsuits against the guarantors of the Cantor funds. The ongoing probe adds to growing concerns about financial exposure in commercial real estate lending.Read more

CoStar Group, a leading U.S.-based real estate data and analytics firm, raised its 2025 revenue forecast to USD 3.23-3.24 billion, up from an earlier USD 3.14-3.16 billion, after exceeding third-quarter expectations. The company reported USD 834 million in revenue, above estimates of USD 813.1 million, and adjusted earnings of 23 cents per share, surpassing projections. Net new bookings rose 92% year-on-year to USD 84 million, driven by growth in its Homes.com and other subscription platforms. Despite strong results, shares dipped nearly 3% in after-hours trading. Ongoing legal matters with Zillow and other cases continue, but CoStar's diversified platforms and strong client base underpin its long-term growth momentum.Read more