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Institutions chasing risk at the peak of the cycle

A key concern for institutional investors in 2019 is abundant capital in real estate driving down returns and adding more risk, according to the global placement advisory firm Probitas Partners.

New Mountain targets ‘operationally critical’ assets with oversubscribed net lease fund

New Mountain Capital Partners has closed its debut fund targeting sale-and-leasebacks of industrial assets on $533 million – an over-subscription of more than $180 million. Through the vehicle, New Mountain Net Lease Partners, the firm will look to buy “operationally critical” properties from mid-market private equity-backed companies, Teddy Kaplan, a managing director with the New […]

How Korean investors priced WeWork risk in Dublin

Korean institutional investors have decided the co-working giant’s 20-year tenancy at Dublin’s Charlemont Exchange is worth another 70bps on the city’s prime yield average.

Bespoke open-ended funds offer control over diversification

These vehicles may not be the main core offering yet, but that might change if investors feel they can best control their asset-class exposure and exit timings through them.

Greystar hires Angelo Gordon exec to oversee new funds platform – Exclusive

Terri Herubin will be responsible for the firm’s sector-specific open-ended vehicles in US multifamily and student housing.

Nuveen Real Estate expands open-ended fund series

The global real estate firm’s first core multifamily fund builds on an existing collection of open-ended funds focused on a single property type such as logistics or retail.

Patrizia’s value-add raise comes amid thinning competition

Only 41 European value-add funds were in market last year, the lowest total since PERE began tracking the space in 2014.

Blackstone’s Asian retail bet bucks the data

The New York-headquartered firm’s $480m transaction with Taubman Asia to buy half-stakes in three malls in the region comes as volumes in the asset class continue to wane.
SURS investment portfolio

SURS seeking private real estate investment managers

The US public pension is seeking to commit up to $275m to private real estate vehicles in 2019.

Andie Kang: Out of the public glare

Andie Kang established Korea’s National Pension Service as one of the world’s pre-eminent private real estate investors, before swapping from public to private three years ago. Arshiya Khullar caught up with him at the country’s biggest investment manager IGIS Asset Management to hear all about it.

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