Term Sheet: 2025 unpacked on our podcast, Mubadala and Barings join forces, Blackstone turns CMBS lender

In this final edition of Term Sheet for 2025, the key themes of the year are examined in the latest edition of The PERE Podcast; Middle Eastern sovereign wealth fund Mubadala forms a global real estate debt joint venture with Barings; Blackstone participates in the European CMBS market for the first time as a lender; and more in today's briefing, exclusively for our valued subscribers.