Managers

The latest PERE 200 ranking demonstrates the increasing geographical dispersion of mid-tier real estate managers in the US. By Aisha Kapoor

Transactions by the PERE 100 cohort of managers were down in the year the market cycle turned, but their net investment positions increased, writes Tom Leahy, head of EMEA real assets research at MSCI.

Whether risers or fallers, all the managers in this year’s PERE 100 and PERE 200 rankings are gearing up for the change in market cycles.

Fundraising for impact strategies is tough. But as the cost-of-living crisis hits society’s most vulnerable people, there is a growing need for private investors to step up.

Women represent a substantial percentage of private real estate professionals, but men have a monopoly on the role of the entrepreneur.

The firm has included private credit investments for the first time in its Gateway fund series due to the higher interest rate environment.

Patrizia’s global investor survey results also reveal a shift in focus from core and core-plus strategies to debt and value-add real estate.

Debt costs have risen sharply, but the inflationary environment has also had an outsized effect on other costs for managers.

Velo Capital, the recently formed group’s credit arm, will target financing opportunities including ‘brown-to-green’ schemes.

The New York-based manager initially targeted $750m for its second fund, snagging capital from institutional and high-net-worth investors.