EDITOR'S LETTER: If the shoe fits…

What’s new in private equity real estate? We answer that question each month in PERE, but maybe more so this combined December/January edition. The issue before you contains a feature that has now become a regular in the annual editorial calendar – emerging managers – and, as always, it has been a fun exercise making picks from all the general partnerships based on market suggestions and our own bench of (overly?) opinionated reporters. From page 35 onwards, you will discover which fund managers are entering the global picture.

Elsewhere in the magazine, we bring you a Blueprint interview with a manager that cannot be said to be emerging, but one that certainly has plans to become something big.  Turn to page 28 for a sit down with the leaders of BlackRock’s new-look team following its takeover of MGPA almost exactly one year ago to find out how the largest asset manager in the world also desires to become the most respected real estate investment manager in the world.  

In addition, we bring you a comprehensive report on Asia private equity real estate in our Roundtable discussion, beginning on page 41. Participants reflect that times are good in the region, but they now are speculating upon the signs that could be seen as the proverbial canary in the coal mine. All of it will give you a perspective on the market.

Regretably though, this issue also contains a tinge of sadness. Jeffrey Schwartz, co-founder of Global Logistic Properties and a titan of the logistics industry, passed last month. Many of you would want to pay tribute and, on page 22, Jonathan Brasse provides a look back at his career, having gotten to know the man during an interview in 2013. He was a business-builder and thought big for sure. Maybe his legacy can be that emerging managers across the globe will think more like him and make things happen.

Enjoy the issue and good luck in 2015,

Robin Marriott