Capital Formation

2019-23 vintage funds have distributed 50% or less of capital

The 2016-18 fund vintages were the last to return capital in full to investors, reaching an average DPI of 1.05x 10 years after inception.

Value-add strategies move into the spotlight

Capital raised for value-add funds has surged amid a scarcity of blockbuster fund closures or launches in the opportunistic space.

Centuria secures Japanese investor backing for single-asset Sydney office fund

The ASX-listed firm has raised approximately A$268m in equity to acquire a 50% stake in two properties in the city’s World Square precinct.

Introducing PERE’s inaugural placement agent ranking

The biggest real estate capital advisory firms are ranked by both new and aggregate equity raised over the past year.

Secondaries are now a sophisticated capital formation tool

Investors are using secondaries to unlock liquidity, retain high-conviction assets and reposition platforms for growth.

Newport Capital Partners on the resurgence of everyday essential retail

Capital is once again returning to the retail sector in a big way, say Newport Capital Partners’ Derrick McGavic and Josh Kagan.

Schroders Capital on why recapitalization is more than just a liquidity tool

Recapitalizations are emerging as a way to bridge Europe’s funding gap, combining capital discipline with operating expertise to enable platforms to institutionalize and grow, say Schroders Capital’s Kieran Farrelly and James MacNamara.

Public REITs’ balancing act

The new entrants have closed some of the largest private real estate funds this year, but can they serve two disparate investor groups?

Townsend: Liquidity pressures are pushing managers deeper into secondaries

Amid slower fundraising, real estate managers are turning to secondaries markets as a strategic source of capital rather than a last-resort liquidity tool, say Townsend’s Anthony Frammartino and Jake Heacox.

Longpoint holds close for debut European fund

Texas Permanent School Fund is among the investors backing the Boston-based manager’s value-add fund targeting German and Dutch logistics properties.