Newsletter

Blueprint: NPS’s strategic shift; EQT’s first mega-fund; CPP’s APAC growth; a $2bn retail deal and more

As competition in the real estate capital markets heats up, another of the sector’s largest allocators says it is moving away from fund commitments to prioritize direct investments and club deals. Read all about the pivot by Korea’s National Pension Service below. Elsewhere, industrial giant EQT comes to market with its most ambitious property fund yet; Canada’s CPP widens its lens in Asia; four heavy hitters come together to acquire a US grocery-anchored platform; and more in this week’s digest, exclusively for our valued subscribers.

Blueprint: Kayne Anderson’s $5bn haul; Stoneshield’s record fundraise; a holiday park mega-deal and more

Is fundraising for private real estate vehicles gathering steam? This week’s headlines include a pair of notable achievements for managers, beginning with Kayne Anderson. The Los Angeles-based firm not only blew past its target for its sixth opportunistic equity fund, it pulled in the largest capital haul of any private real estate vehicle to reach a final close so far this year. Meanwhile, PERE can reveal a separate record-setting fundraise by Southern Europe specialist Stoneshield Capital; private REITs and real estate secondaries go under the lens; Aermont pays $1 billion for a UK portfolio; and more in this week’s digest, exclusively for our valued subscribers.

Blueprint: CPP’s last-mile push; Heitman’s self-storage ambitions; a PBSA windfall; and more

Investors are racing to gain exposure to specialty real estate sectors, with experienced operators positioning themselves to benefit. Topping the headlines this week is Canadian pension giant CPP Investments, which broke from tradition with the purchase of a partial stake in a French logistics platform. Elsewhere, Blackstone charts a new course in digital infrastructure, Heitman is off and running with a debut self-storage vehicle, Core Spaces raises $1.6bn to develop student housing, and more in this week’s digest, exclusively for our valued subscribers.

Blueprint: Digital Realty’s private push; Brookfield’s dealmaking boom; Nuveen’s Korea debut and more

Public and private real estate markets are clashing again as listed data center giant Digital Realty plots a fundraising expansion, and we have the exclusive details below. Elsewhere, Brookfield eyes a dealmaking renaissance, Greystar turns to the Middle East, Nuveen debuts in Korea’s living sector and more in this week’s digest, exclusively for our valued subscribers.

Blueprint: Blue Owl’s net lease equity haul; private real estate compensation survey; Ares’ Q1 fundraising

Blue Owl reported gathering $3 billion in equity for its net lease strategy, accounting for three-quarters of its Q1 real estate equity raised; private real estate compensation is rebounding with chief financial officer roles at operational platforms seeing highest growth rate among categories. Elsewhere, Ares Management is on track to achieve a record fundraising year, locking $5 billion of equity and debt commitments for real estate in the first quarter; and more in today’s digest, exclusively for our valued subscribers.

Blueprint: CapitaLand’s mandate from Income Insurance; JEN Partners’ Fund 9; Women of Influence nominations open

CapitaLand Investment is slated to manage Income Insurance’s direct real estate portfolio after taking on a S$2.4bn real estate investment mandate; JEN Partners hits the hard-cap of $900m for its Fund 9 in a speedy fundraising run. In addition, PEI’s Women of Influence in Private Markets program is now open to nominations; and more in today’s digest, exclusively for our valued subscribers.

Blueprint: Chatham Financial to buy Hodes Weill; KingSett Capital’s retail REIT privatization; GPIF’s domestic commitment

Hodes Weill enters an agreement to be purchased by Chatham Financial as it aims to expand in infrastructure; KingSett Capital is acquiring First Capital REIT, absorbing C$4.4 billion of shopping center-anchored assets in the process; the world’s largest public pension fund GPIF is allocating ¥10 billion ($67 million; €61 million) to Phoenix Property’s flagship opportunistic fund, focusing on Japan investments; and more in today’s digest, exclusively for our valued subscribers.

Blueprint: Ares’ REIT take-private; La Caisse-Prologis joint venture; Federated Hermes’ US footprint

The past week was marked by a slew of M&A activities across sectors and borders. Ares is completing its second REIT privatization this year, acquiring Whitestone and absorbing a US necessity retail-backed portfolio. Prologis is launching a new pan-European logistics vehicle through a joint venture with La Caisse, aimed at driving growth with an existing €1 billion portfolio. Meanwhile, Federated Hermes completed a $331 million deal last week to acquire an 80 percent stake in FCP; and more in today’s digest, exclusively for our valued subscribers.

Blueprint: Ares’ double win; Carmel Partners’ buying commitment; Sun Life’s acquisition of BGO

Ares Management closed two flagship value-add funds in the US and Europe, respectively, attracting $5.4 billion in capital commitments and demonstrating improving investor appetite; Carmel Partners is prioritizing acquisition opportunities over development for its ninth value-add fund, which attracted $1.35 billion in equity. Elsewhere, Sun Life cements its growth ambitions after completing the acquisition of remaining interests in BGO and alternative credit manager Crescent Capital Group; and more in today’s digest, exclusively for our valued subscribers.