Private real estate’s institutional investors are ready to engage with opportunistic strategies, and deals in the hospitality sector are an early target, writes James Jacobs, head of real estate for Lazard’s private capital advisory group.
The early years of the recovery following the global financial crisis saw investors embrace sector-specific funds to the greatest extent relative to their sector-agnostic peers. But that trend was short-lived and has not returned.
Closings at the end of the month for Blackstone's latest European opportunity fund and the latest pan-Asia opportunity fund of PAG Group meant a relatively high aggregate for private real estate fundraising.
Korean investors’ increase in outbound investing, growing appetite among Asian investors for alternative real estate and Paris replacing London were the notable trends from the broker’s annual research.