Newsletter

Blueprint: CPP, Schroders name new real estate chiefs, CalSTRS’ $1.7bn writedown, and PERE reveals the latest Global Investor 100

New real estate chiefs take over at Canadian pension giant CPP and London-based manager Schroders; CalSTRS takes a hit to its real estate portfolio as a result of “industry-wide valuation markdowns;” Ares takes aim at Mexico’s industrial market with the acquisition of Walton Street Mexico; UK pension Nest and US manager Invesco lean into development; investors take a big slide on the 2024 PERE Global Investor 100 ranking; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Fed rate-cut reactions, Generali ramps up third-party capital, managers set sights on private wealth

Private real estate market participants weigh in on the ramifications of the US Federal Reserve’s long-awaited interest-rate cut; Generali Real Estate recruits a senior executive from Morgan Stanley to help pursue its lofty ambitions in third-party capital management; Invesco Real Estate and Hines are the latest managers to feel the allure of private wealth, forming partnerships and making key hires in the space; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Headline-grabbing fundraises at Ares, BGO and Lone Star; Aviva changes its strategic rules; Korean and Japanese investors look to ramp up their property exposures

Record fundraises by Ares and BGO and a target-missing capital haul by Lone Star dominate the private real estate capital markets headlines; Aviva Investors adopts a progressive approach to real estate investing with less reliance on benchmarks; Korean and Japanese investors at PERE’s live events last week talk of boosting their real estate exposures, and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: EQT Exeter’s new leader, Starwood’s latest take-private bid, the launch of the 2025 Investor Perspectives Survey

EQT Exeter names 15-year company veteran Henry Steinberg as the successor to departing founder Ward Fitzgerald; Starwood makes a takeover bid with an offer to privatize Columbia Threadneedle’s Balanced Commercial Property Trust; PERE and its affiliate titles are calling all investors to participate in the 2025 Investor Perspectives Survey; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Industry waves goodbye to Léon Bressler, Henderson Park’s US expansion, Canadian investors’ negative returns

Aermont founder Bressler leaves behind a well-planned-for business; Henderson Park’s US expansion is explored in an exclusive interview with PERE; Canadian investors continue to report negative real estate returns; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: ESR’s delayed C-REIT launch, BREIT’s incoming chief, Warburg Pincus and Lendlease in $1.2bn life sciences deal

ESR postpones the launch of its C-REIT until later in the year, citing the low share prices of existing C-REITs in the market; Blackstone’s Wesley LePatner follows in Frank Cohen’s footsteps as BREIT’s new CEO, after previously replacing him as head of the firm’s global core-plus real estate business; Warburg Pincus and Lendlease make headway on building an Asia-Pacific life sciences platform with a $1.2 billion debut deal; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Office woes drag investor returns and Asia funding shortfalls, CPPIB returns to marquee fund commitments with Blackstone, ex-CalPERS boss takes lead role at Prologis

Office headwinds keep heavyweight investors CDPQ and NBIM’s real estate performance down; CPPIB performs a strategic U-turn and returns to cutting big checks to mega-funds, with a commitment to Blackstone’s latest European opportunity fund; ex-CalPERS real estate boss Ted Eliopoulos bolsters the capital markets capabilities of the world’s biggest logistics landlord; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: NPS commits to fewer funds, Blackstone’s $1bn multifamily sale, Hines’ latest leadership change

NPS reduces the number of its fund investments in real estate, the only alternative asset class where the South Korean pension fund undertook a downsizing; Blackstone sells an 11-apartment portfolio for nearly $1 billion, sparking a re-examination of pricing by some industry watchers; Hines elevates another Hines family member to the office of the CEO as part of an ongoing succession plan, following a senior leadership reshuffle in late July; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Ares and KKR declare real estate market bottom, a French real estate giant emerges, fundraising periods take longer

Ares, KKR leaders add their voices declaring a market bottom and intent to go on the acquisition offensive; the sale of the asset management business of French insurer AXA to the country’s bank BNP Paribas means another private real estate giant gets even bigger; PERE data demonstrates how funds are taking notably longer to get closed; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: ADIA’S $400m commitment, GIC’s climate calculus and calling US election watchers

Abu Dhabi Investment Authority is doubling down on European debt with a big commitment to Arrow Global; GIC outlines how it is protecting its portfolio from climate risk; the co-founder of Asia logistics specialist LOGOS Property Group is striking out on his own; PERE is seeking your opinion on the upcoming US election; and more in today’s briefing, exclusively for our valued subscribers.