Value-Add

He arrives in the newly created role from a nine-year stint at CBRE Investment Management.

The credit manager is looking to build out its portfolio in the space to complement its primary value-add strategy.

The UK manager has closed its fifth value-add diversified fund and is seeking further capital for sector-specific side vehicles.

The purchase marks the fourth hotel deal for the manager’s first value-add hospitality fund.

In its first investment for the fund, the manager has acquired a 40% stake in a Swedish student accommodation portfolio.

A recovery in activity levels is forming as institutional appetite turns positive during the first half of 2024, says James Jacobs, head of real assets for Lazard’s private capital advisory group.

Two fund closings this week demonstrate how targeting below-average deal sizes can give managers an edge.

The firm is looking to deploy most of the $915m raised for the vehicle into deals averaging $10m in size.

Crunching the numbers on PERE’s flagship manager rankings reveals the uneven impact of ongoing fundraising headwinds.

The decline of the five-day commute has been a boon for suburban retail, according to the manager.