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Friday Letter

Politics schmolitics, reinvention is more important to private real estate

Not for the first time, a major political event was overshadowed at one of PERE’s regional summits by discussions around driving efficiencies through market cycles.

EXPO Real: Private real estate plows on with no downturn in sight

With a consensus opinion of further growth, this year’s EXPO Real conference in Munich shone a spotlight on a market benefiting from higher levels of investment, new entrants and more innovation. Here are PERE's top 10 takeaways

CBRE GIP was not the most important of GPIF’s two real estate hires 

The $1.4trn pension fund’s appointment of Asset Management One as gatekeeper underscores the crucial role intermediaries will play matching Japanese capital with Western managers.

Niche property lending requires different pros-cons considerations

Lending to a singular alternative real estate sector means a firm must be ready to underwrite a property type’s unique risk and demonstrate specialist expertise.

Lehman was painful for some but made champions out of others

PERE talks to the winners and losers ten years on from property’s ‘day of reckoning’

What investors think about strategy drift

Managers expanding into new investment opportunities is nothing new, but capital providers are not always inclined to give firms an automatic pass when it happens.

Why the fall of Abraaj matters to real estate investors  

The troubles at the Middle East’s biggest private equity firm are relevant to investors in any private asset class, including ours.

Why SWFs are now finding real estate (un)appealing

Rising valuations and geopolitical risks are hurting the case for sovereign wealth funds to invest more money in real estate.

Slow, steady is GPIF’s mantra

Government Pension Investment Fund’s disclosure of its alternative investment portfolio is yet another sign that the Japanese pension giant will be taking a measured approach to portfolio diversification.

Real estate credit strategies face change of capital support

Some institutional investors appear to have had their fill of real estate debt funds, but others might just be getting started.

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