Alternatives

PIMCO will invest the fund’s capital across Europe via its dedicated data center development and operating company Apto.

Although the firm will continue to own other parts of ARA Asset Management, the APF sale itself includes notable exclusions.

While the largest diversified funds still rule the pack, capital is increasingly flowing to vehicles with a singular investment focus.

Australia’s population growth, combined with the ongoing withdrawal of its banks from commercial real estate debt, is spawning opportunities for alternative lenders, say Qualitas’s Mark Power and Dean Winterton.

At the PERE Network Asia Summit, the sovereign fund’s global head of real estate said elevated rates had made the sector less competitive.

The Dallas-based manager closed the 10th fund in its flagship value-add series on $3.1bn, a 35% increase on the previous fund.

Although 38% of investors were overallocated to the asset class in 2023, only 27% plan to invest less capital this year.

The outlook for 2024 stands in stark contrast to 2023 as institutional appetite for real estate picks up, says James Jacobs, head of real assets for Lazard’s private capital advisory group.

AXA IM Alts prepares to buy the iconic British film and television studios from the BBC in a sale-leaseback.

Investors are hurting from the poor performance of real estate, but this has not diminished their appetite for fresh investments.