Friday Letter

The UK’s new sustainability labels have their first user. But will others follow?

The country’s labeling regime is generally considered superior to its EU counterpart. That does not mean fund managers will use it.

Private real estate can read much into a tale of two elections

Very different outcomes in France and the UK underscore the risks of political instability for an already-struggling industry.

This hurricane season bodes badly for US property owners

Hurricane Beryl is said to be the earliest category 5 Atlantic hurricane on record, adding momentum to concerns about already rising insurance costs for institutional landlords and their investors.

Bigger is not always better for dealmaking 

Two fund closings this week demonstrate how targeting below-average deal sizes can give managers an edge.

Three observations on Ares buying GCP’s non-China business

Although the proposed transaction still has many unknowns, some impacts of the deal are apparent even at this early stage.

Investors are still taking chances on new manager relationships

Even during a fundraising slump, one of the world’s largest capital allocators just demonstrated institutions will make bets for the right firm and strategy.

Four key takeaways from the 2024 PERE 100 and PERE 200

Crunching the numbers on PERE’s flagship manager rankings reveals the uneven impact of ongoing fundraising headwinds.

Growth is not always the best way forward

Some managers and investors are shedding assets and business lines to stay competitive, contesting the deep-rooted hypothesis that with scale comes success.

SREIT’s woes show retail investors are still wary of real estate

Even before the vehicle’s liquidity issues emerged, capital raising from the investor group had fallen off a cliff last year.

Three observations about Starwood’s takeover bid for ESR

The potential combination of two top 10 PERE 100 firms is unlike other private real estate M&A deals for multiple reasons.