Debt

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

Despite a risk-off environment, lenders are ‘having to get their heads around’ operational deals given the uptick in activity in the space.

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 investor is actively looking for real estate debt and distressed investment opportunities arising from current market conditions.

Co-CEOs Deborah Harmon and Alex Gilbert said more than half the capital for the fund came from new investors, including Asian and Middle Eastern sovereign wealth funds.

The South Korean pension fund plans to grow overseas and alternatives exposures while also increasing its return target by 2027.

Lone Star’s founder sees a limited window for distressed investing while most wait for private real estate market conditions to settle.

Urban Partners will oversee the Nordics real estate manager alongside other businesses centered around the concept of cities.