Blueprint: Tokio Marine’s ACORE buy, Blackstone’s leadership change, Madison’s APAC secondaries push and more

As the impacts of deglobalization continue to ripple through international markets, a handful of cross-border maneuvers stand out this week, starting with Japanese insurer Tokio Marine’s purchase of a majority stake in US real estate credit manager ACORE Capital. Elsewhere, Blackstone global co-head of real estate Kathleen McCarthy announces her exit after 15 years with the firm; secondaries specialist Madison International Realty plots a push into Asia; the Abu Dhabi Investment Authority pulls off a large exit in Singapore; Japan’s GPIF backs another American manager in its home market and more in this week’s digest, exclusively for our valued subscribers.