Value-Add

With one eye on the new market cycle, emerging and evolving capital sources are mobilizing to make the most out of an allocation to private real estate.

The investor’s newly formed international team has partnered with Delancey to invest £1bn in the UK, with London offices as the initial focus.

The £500m commitment to a joint venture with Kennedy Wilson represents the Canadian pension plan’s first foray into SFR in Europe and a chance to ‘really go at scale’ in the sector.

The deal includes a separate $200m seed investment by the UK pension investor, which cited growing institutional interest in US multifamily and logistics assets and decarbonization initiatives.

The investor is an outlier in an industry increasingly skeptical of emerging managers.

Capital raisers in attendance at Expo Real in Munich this week spoke of the need to adapt fundraising strategies as capital flows remain in the doldrums.

Despite the brighter outlook for attracting capital to private real estate, key metrics point to ongoing challenges for fund managers.

The Munich-based multifamily office has hired Cord Ernst to run the North American division and struck its first deal in the region.

The Spanish manager has partnered with US developer Advenir to build 10,000 single-family homes and buy 5,000 existing rental units.

The firm has hired two former Ares executives to lead its strategic transactions team in the region and oversee the value-add fund series.