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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PE, venture revived by market rebound: Cambridge Associates
For US private equity and venture capital managers, Q2 generated the best returns since the end of 2007, when listed markets began sliding, and for the first time since its introduction mark-to-market valuation methodology benefited managers, according to research from US Consultancy Cambridge Associates. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
New era in private equity fees: Watson Wyatt
In this latest paper, Watson Wyatt, suggests some changes to redress the imbalance in private equity fees including changing the basis on which a manager sets its management fees; and that GPs should consider phasing in management fees over the investment period to reduce the significant fee drag from paying on commitments early in the
HOOPP survives the crisis through ALM
The experience of the C$26.7 billion ($25 billion) Hospitals of Ontario Pension Plan (HOOPP) is testament to the success of asset-liability driven investing. Amanda White spoke with chief executive, John Crocker, about how matching assets with liabilities led to an underweighting in equities and a subsequent (relative) survival of the global economic crisis. mrec4inarticleinline Sponsored
Secular growth in emerging markets and how to access it
This paper by Scott Berg, global large cap equity portfolio manager at T Rowe Price examines the secular growth trends that have underpinned emerging markets and whether there is still an argument for exposure to these markets within a global equities portfolio. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Crisis will force private real estate to go public
Tight credit conditions in the US will diminish the private sector’s monopoly on residential and commercial property, driving assets into public markets and real estate investment trusts (REITs) loaded with cash from a spate of capital raisings. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
UK’s Lothian Pension Fund boosts alternatives
The £2.3 billion ($3.7 billion) Lothian Pension Fund, part of the Scottish Local Government Pension Scheme, has overhauled its investment strategy, increasing its alternatives weighting to more than one third of the total fund, after poor performance in financial year 2008-09 wiped 17 per cent off the fund’s value. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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