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The coronavirus crisis has accelerated the transformation of real estate secondaries and presented tangible opportunities for buyers with the right information.
New York
Strategic Partners Real Estate VII has raised $600m more than its predecessor and is looking at a strong pipeline of GP-led deals.
building
The $515bn Canadian asset management giant has hired two Partners Group executives to help with the effort.
Real estate secondaries transactions
Around $7.2bn worth of real estate secondaries deals closed or were placed under contract last year, according to research from Landmark Partners.
New York-based Pretium’s $1.5bn deal is one of the largest GP-led secondaries transactions recorded, as such deals account for a growing share of the market.
The biggest institutions are putting more capital towards property and making the asset class a more significant portion of their portfolios.
The fund has received a €30m commitment from Willis Towers Watson’s secure income fund and intends to deploy €800m in the next five years.
Real estate secondaries transaction volumes fell 39.2% during the first half of 2019 but the dip is expected to be temporary, according to private equity secondary advisory firm Setter Capital.
The world’s largest pension fund is expected to engage in overseas real estate through more investment strategies and structures.
The Swiss bank’s real assets asset management arm recently completed the recapitalization of Avanath Capital Management’s first fund.
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