Europe

Private real estate’s largest managers are maximizing their chances of fundraising success during a challenging market environment.

Consolidation in the industry has transformed the manager landscape – but to whose benefit?

After a period of political and economic turbulence, not to mention real estate market paralysis, participants in PERE’s UK roundtable anticipate calmer waters ahead.

In a tough fundraising market, the largest managers are increasingly utilizing co-investment vehicles and separate accounts to stay competitive.

Some managers and investors are shedding assets and business lines to stay competitive, contesting the deep-rooted hypothesis that with scale comes success.

The Cleveland-based real estate and fixed income manager and London-based infrastructure firm will have about $35.7bn in total AUM.

The UK pension fund is close to divesting all of its secondary office holdings as it looks to rebalance its overall real estate portfolio.

Andrew Allen was appointed global chief investment officer at the London-based manager following Kiran Patel’s retirement last month.

The addition of Cromwell Europe will double Stoneweg’s AUM and expand its wheelhouse into multiple new markets, says founder Jaume Sabater.

The firm will shift to being a local manager given the difficulties of being global without vast scale, according to Cromwell’s CEO.