Evelyn Lee
The topic is top of mind for the region’s investors and has raised concerns that property markets abroad may have become too expensive.
Germany’s largest public pension group has forged a partnership with the New York-based private markets investment firm to diversify its property portfolio.
The joint venture between the Canadian pension plan and the London-based firm will be one of the largest-ever partnerships in the sector in Europe.
The Swedish pension plan has committed a total of €3.8bn to date as the most sizable investor in the region’s second-largest residential company.
Institutional investors are grappling with the question of what to do with existing assets amid greater ESG scrutiny during the pandemic.
The high-profile departure comes two years after the New York-based bank’s reorganisation of its property businesses.
Oaktree’s substantial deployment of its latest property fund is not indicative of dealflow in the market overall, but rather that it is ahead of the pack.
Brexit and covid have been cause for concern for managers and investors. But some institutions have continued to forge ahead despite the challenges.
The Canadian pension, which is significantly underallocated in the sector, will aim to more than double the UK-based firm’s AUM in the next five years.
The pandemic has brought increased focus on the social aspects of ESG strategies in particular, according to the real estate investment manager.