On this episode, François Trausch, CEO and CIO of PIMCO Prime Real Estate, reflects on the behavior of the central banks, refinancing and the demands of decarbonization. Recorded at the PERE Europe conference as part of his keynote address, he speaks with PEI Group’s Jonathan Brasse about the outlook for the market. “I think learning to be a good investor is also learning to do nothing from time to time,” he said. “That doesn't mean [investors are] not busy… There's work to be done, and I think if the bid-ask spread is narrowing, which we're seeing, I think sales will come back and ..read more

A decade ago, in the aftermath of the global financial crisis, anxiety around unknowns was still rippling through financial markets, including within secondaries. Similarly, there was a great deal of concern around the Volcker Rule that came into effect in 2014, which essentially prohibited banks from investing in private equity with their own funds. In 2013, secondaries volume sat at around $28 billion. The following year, volume leapt to $42 billion. While regulation should not be overplayed, the Volcker Rule and Solvency II – a regulation affecting insurance companies and the percentage of ..read more

In this episode, Brian Thies and Christopher Wolfe of Fitch Ratings speak with PERE Americas editor Miriam Hall about the outlook for multifamily real estate in the US and how banks may be exposed. Banks’ multifamily lending has grown 32 percent since the end of 2019, per a Fitch report last month, to hit $613 billion at the end of 2023. That is a complicating factor for some regional banks, especially those with significant exposure to rent-controlled assets or areas facing oversupply. “The performance is still looking good, but that growth is probably masking what's underneath,” Wolfe said o ..read more

Specialisation in the private equity industry has become part and parcel of its growth, with almost half of the roughly $785 billion raised for private equity strategies last year focused on non-buyout strategies. In this episode, senior editor Adam Le sits down with Richard Anthony, chief executive of investment bank Evercore’s private funds group, to hear his advice for GP clients wanting to launch so-called 'ancillary' strategies. For more, check out privatequityinternational.com ..read more

Across the globe, EVs are seeing an uptick in both usership and government support. They stand to deeply reshape power grids, so the infrastructure supporting them has become top of mind for forward-thinking infrastructure investors. In this episode, we sit down with Benjamin Bygott-Webb, a managing director at EQT, and Gregory Remec, head of North American infrastructure at Fitch Ratings, to explore the investment opportunities – both direct and indirect – and how those investments may impact the already precarious electric grid. To learn more, check out these stories on infrastructureinvesto ..read more

In this episode of Second Thoughts, our bi-monthly take on the biggest trends and developments in secondaries, Secondaries Investor's Madeleine Farman, Adam Le and Hannah Zhang cut through the headline figures in 2023's advisory reports to break down geographic trends and key themes in the market. Total deal volume sat somewhere in the region of $109 billion to $115 billion in 2023 with LP-led volume making up $56 billion to $66 billion. Farman, Le and Zhang delve into topics including APAC secondaries market activity, structured liquidity offerings such as NAV loans, preferred equity and ..read more

For more, be sure to also check out PERE's February cover story "Private real estate’s collision course with geopolitics." Geopolitical tensions topped the list of near-term downside risks for businesses in the latest global risk survey by economic forecasting firm Oxford Economics. It is also a risk of particular relevance for the private real estate industry, given how geopolitical conflict stands to have a detrimental effect on property returns on both a macro and micro level. In this episode, PERE editor Evelyn Lee speaks with Abby Rosenbaum, associate director at Oxford Economics, about h ..read more

Endowments and foundations are some of the most consistent investors in private equity, and they often have some the highest allocations to the asset class. But have the challenges private equity has faced over the last 12 months dented their appetite? What are some of these investors thinking when it comes to their private equity portfolios? In this episode of Spotlight, senior editor Adam Le sits down with Jill Shaw, a managing director at global consultancy Cambridge Associates, to find out what advice she is giving her clients when it comes to private markets portfolio construction and whi ..read more

Subscribe to the new Private Debt Investor Podcast wherever you like to listen, or click here: https://www.privatedebtinvestor.com/podcast PEI Group publication Private Debt Investor recently celebrated its 10-year anniversary, and now it's launching its own podcast! To kick it off, PDI is taking a six-part look back with its Decade of Private Debt podcast miniseries, speaking with some of the industry's leading figures about the challenges, triumphs and the evolving dynamics that have defined the world of private credit over the past 10 years. In this sixth and final episode, Akila Grewal, pa ..read more

Subscribe to the new Private Debt Investor Podcast wherever you like to listen, or click here: https://www.privatedebtinvestor.com/podcast PEI Group publication Private Debt Investor recently celebrated its 10-year anniversary, and now it's launching its own podcast! To kick it off, PDI is taking a six-part look back with its Decade of Private Debt podcast miniseries, speaking with some of the industry's leading figures about the challenges, triumphs and the evolving dynamics that have defined the world of private credit over the past 10 years. In this fifth episode, European Leveraged Finance ..read more