Real estate is evolving fast as increased global investment opportunities emerge. Property prices in key markets have begun a tentative upswing that may offer scope for capital gain. There is also evidence of rental growth in some locations, which has had a positive effect on capital values. However, as the effects of the global financial crisis continue to be felt, investors are demanding greater control over their investments. This paper examines the opportunities and challenges facing institutional investors, as well as favoured strategies in the current market.
Asset Classes
Real Estate: New Opportunities for Institutional Investors
State Street, State Street Sponsored Research
Asset Classes
Nest favours institutional-first managers as retail exodus pressures private credit
Nest, the largest workplace pension in the UK, says that private credit managers who prioritise institutional clients will be more favourably viewed. The £61 billion ($82 billion) fund has awarded a £450 million ($605 million) US direct lending mandate to Crescent Capital this month, citing the manager's institutional-client-first approach as a key attraction.
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Fiduciary duty in dysfunctional markets
Phil Edwards and Paul Woolley argue that if asset owners exhibit a more effective application of fiduciary duty to curb performance-chasing by verifying the implicit time horizon of the strategies adopted by the asset managers they employ, they could incentivise a shift towards longer horizons within financial markets with both private and social benefits.
Investing in new infrastructure
This session examined how the digitalization of economies and the shift to renewable energy offer potential long-term growth opportunities in infrastructure; and how it can play a role in long-term investor portfolios.
NEST’s PE challenge to the industry
The UK defined contribution fund, NEST has added a number of new asset classes to its portfolio over the past year – including infrastructure with a focus on renewables – but the fund is still missing an allocation to private equity. CIO Mark Fawcett spoke to Amanda White about the fund’s challenge to the industry on private equity fees, its focus on climate-aware portfolios and innovative approaches to portfolio management.
Large tech companies must be broken up
Concentrated power by monopolistic companies is a systemic problem in the US economy, according to Matt Stoller, director of research at the American Liberties Project, but investors have little power to change it.
The importance of the right benchmark
A new paper by EDHECInfra argues that selecting the right benchmark could completely change investors' preferred asset allocation to infrastructure equity and debt.
Diversity in private market managers
The composition of an investment committee is the most meaningful criteria in assessing diversity, equity and inclusion in private market fund managers according to Mercer.
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