Asia-Pacific

Aided by the rise of logistics and other property types, opportunistic and value-add managers outperformed their core counterparts.

Even the most dominant in the ranking are seeing a drop in aggregate growth.

Institutions continue to seek exposure to logistics assets as retailers adapt to a changing marketplace. Identifying assets that will benefit from structural change is critical, according to James Jacobs, head of real estate for Lazard’s private capital advisory group.

The top 10 managers accounted for 37% of the overall AUM in 2020, continuing the industry consolidation trend, according to the latest survey by industry organizations NCREIF, INREV and ANREV.

The Swiss asset manager’s private real estate Asia team has 20 professionals executing primary, secondaries and direct investments.

The Sydney-based real estate fund manager will provide equity for the acquisition of seed assets and bring in co-investment capital from its investors.

Institutional capital is less concerned with political rhetoric over China and more about finding investment opportunities and the practicalities of negotiating local regulations.

As China’s real estate investment market grows more complex, three sources of capital are set to become more relevant, says Hodes Weill’s Hong Kong-based partner Alfredo Lobo.

Investors in China real estate are turning to non-core sectors, where they can build scale and boost returns.

Investors in Hopu Masterfund II can roll into a continuation fund with real estate investor and operator GLP China or sell their stakes in a deal that could be worth as much as $2bn.