News & Analysis

The strategy is regaining its appeal as other real assets become more vulnerable amid heightened geopolitical tensions, writes Josh Pristaw, president at Clarion Partners, real estate investment manager of Franklin Templeton.

Chien’s departure is the latest in a number of recent senior leadership changes in the Partners Group’s real estate business.

The Texas-based manager has pulled in $905m to date for the US-focused vehicle, backed by investors including Canadian pension La Caisse.

A year after ESR’s privatization, Josh Daitch’s exit comes as the firm prepares to welcome former Lendlease CEO, investment management, Justin Gabbani as head of fund management.

PensionDanmark and SamPension are both backing the Northern Europe-focused vehicle as first-time investors with the Copenhagen-based manager.

The manager acquired a non-controlling stake in a US portfolio assembled by public REIT Safehold, which has options to reacquire it after seven years.

The country’s institutions are recalibrating their core-heavy strategies to focus more on value-add opportunities.

The endowment is also optimistic about resilient office assets and a market rebound amid renewed leasing momentum.

The manager has secured more than $650m across a global program focused primarily on GP-led secondaries but seeded with an LP-led fund portfolio.

Asia head of alternatives Albert Yang sees property coming back after a challenging period for the asset class.