Indirect

Capital is diverging from traditional reallocation patterns

As liquidity gradually returns to private real estate, much of the proceeds are not flowing back to where they came from, PERE heard at MIPIM.

ADIA, Ardian expand secondaries partnership into real estate

The platform will focus on opportunities in the US and Europe, with future growth contingent upon its track record.

CBRE IM joins elite cohort with second secondaries fund

The firm, which closed its first vehicle in the series just three years ago, now has raised one of the largest funds ever in the strategy.

Madison International to make first investments in Asia

Founder Ron Dickerman expects his firm will begin deploying capital next year amid a ‘very intriguing’ time to explore real estate secondaries in the region.

Real estate secondaries is becoming a crossover play

As StepStone and Greykite’s €1.5bn recapitalization shows, some of the most compelling deal opportunities are coming from non-real estate sponsors.

DOWNLOAD: 2025 fundraising set to outpace 2024 volume

But without three mega funds, the total capital raised in Q1-Q3 2025 would have fallen below that of the same period last year.

UK pension starts alts buildout with property allocation

Having picked its first private markets fund, NOW: Pensions will move into other illiquid assets, potentially alongside Mercer, director of investment Martyn James tells PERE.

DOWNLOAD: H1 fundraising volumes dispel recovery predictions

Massive capital hauls from Blackstone masked what was otherwise a tepid capital raising environment during the first half of the year.

Dividends, discounts and the real value of REITs

Matthew Norris, managing director for real estate securities at Gravis, takes issue with a surprising stretch of real estate equities logic demonstrated by private managers these days.