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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TRS eyes threat of retail investors in private markets
The growing amount of capital from retail investors flowing into private equity and real estate has consequences for institutional investors. The private markets team at the Teacher Retirement System of Texas pondered the risks in a recent investment committee meeting.
Rebalancing at UTIMCO: Why investors should worry about corporate earnings
In a recent board meeting, University of Texas Investment Management Co's head Rich Hall explained why he is concerned about corporate earnings' impact on equity returns. He also warned that as consumer and company spending slows, a recession can become self-fulfilling until new facts emerge to break the pattern.
Temasek chases core-plus infra, creates private credit offshoot
The $338 billion Singapore state investor Temasek is contemplating allocating more capital to core-plus infrastructure projects, especially those related to data centres, energy transition and ageing facilities. The fund also spun out a standalone private credit platform called Aranda from its in-house credit team last fiscal year.
North Carolina opens the door to bitcoin but state treasurer remains wary
North Carolina state treasurer Brad Briner tells Top1000funds.com in an interview that bitcoin will need to be less volatile for it to attract state investment, and points to a longer-term worry in digital assets that could have “a profoundly negative implication for our country”.
WSIB edges towards standalone private credit, eyeing best GPs
Unlike many other US institutional investors, Washington State Investment Board has not built out a large private credit allocation. This autumn the board will decide on the size and shape of a standalone allocation in which partnering with top quartile GPs will be essential.
Dutch insurer NN flags loose lending and copious capital in private credit
Marieke van Kamp, head of private markets at Dutch insurer NN, flags growing risks in private credit. In an interview with Top1000funds.com, she also outlines NN's partnership model with managers and argues the case for sustainable real estate.
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