Value Creation
Japan Report
Secondaries & Recapitalizations
The last year has seen a sea change, with investor-led secondaries coming back into vogue as economic conditions have shifted. 2022 set a record for real estate secondaries transaction volume at $12.4 billion, but lost in that number is a slowdown for GP-leds which has continued into this year. While 2023 is shaping up to be a very different year to the one that went before, the LP-led revival suggests it will still be an active one.