Allocation Strategy

The London-based firm gave a 50% management fee discount to first close investors committing $100 million or more to the vehicle.

Historic low rates are a boon for capital seekers, but institutional investors face newfound uncertainty as lower for longer threatens to become lower forever.

Tim Walsh, the high profile former advisor to the under-allocated and underperforming sovereign wealth fund, advised it to 'stop direct real estate investing immediately' in the name of simplicity. His advice has had little effect.

The full extent of the outbreak in China is yet to be seen, but the short-term impact has already manifested itself in Asia’s private real estate markets

The move will enable roughly 85,000 DC members, representing around £1bn of funds, to select a private markets allocation within their investment program.

The amount raised for Asia Property Fund V so far is the same that the firm raised for the entirety of its predecessor fund.

North American fundraising looks to be strong in 2020, but it is expected to be led by large managers once again. Alternative assets and tailor-made structures will be of particular interest to investors as well.

Texas TRS seeded the fund with $990m and other investors followed suit, looking for liquidity and a passive approach to core real estate investment.

The firm has appointed former Westbrook Japan senior executive Akira Kosugi to lead its investments in the country.

Trumbull Property Fund’s massive exit queue makes it unique in the core fund space, but much can be learned from where investors go next.