It must be said that the calibre of story that you, our burgeoning private equity real estate sector, is producing for us every day has been most welcome. So in return, we thought we’d give a small gift back. Please don’t be afraid to sing along:
On the first day of Christmas,
My GP gave to me
A decrease in management fees!
On the second day of Christmas,
My GP gave to me
Two carry points,
And a decrease in management fees!
On the third day of Christmas,
My GP gave to me
Three new deals,
Two carry points,
And a decrease in management fees!
On the fourth day of Christmas,
My GP gave to me
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the fifth day of Christmas
My GP gave to me
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the sixth day of Christmas,
My GP gave to me
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the seventh day of Christmas,
My GP gave to me
Seven core-like buildings
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the eighth day of Christmas,
My GP gave to me
Eight ad hoc updates,
Seven core-like buildings,
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the ninth day of Christmas,
My GP gave to me
Nine loans refinanced
Eight ad hoc updates,
Seven core-like buildings,
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the tenth day of Christmas,
My GP gave to me
Ten pipeline prospects
Nine loans refinanced,
Eight ad hoc updates,
Seven core-like buildings,
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the eleventh day of Christmas,
My GP gave to me
Eleven prudent recaps,
Ten pipeline prospects
Nine loans refinanced
Eight ad hoc updates,
Seven core-like buildings
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
On the twelfth day of Christmas,
My GP sent to me
Twelve times equity,
Eleven prudent recaps,
Ten pipeline prospects,
Nine loans refinanced,
Eight ad hoc updates,
Seven core-like buildings,
Six distributions,
Five new key men!
Four co-invests,
Three new deals,
Two carry points,
And a decrease in management fees!
Have a great festive season everyone. See you in 2011!
Best regards,
Erik, Robin, Zoe and Jonathan at PERE.
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