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Stephen Morriss

Slow growth in Europe is having a negative effect on real estate fund pricing, although transactions should increase in the coming years, according to Landmark managing director Paul Parker.
Secondaries firms are more selective and may use a different discount rate when pricing assets in emerging markets, according to Partners Group.
The online secondaries platform has already transacted more deals this year than in 2013.
Secondaries funds generated a pooled net IRR of 1.49 percent during the period.
Secondary funds outperform direct funds in terms of net IRR, according to Capital Dynamics.
Leverage ratios and secondary market volume have little effect on real estate pricing discounts, according to research from Consilia Capital.
GP-led restructuring transactions have become more acceptable for buyers and are expected to be a growing trend over the next few months, according to Credit Suisse private fund group director Mark McDonald.
The Swiss-based investment manager believes private equity secondaries pricing could go higher still, but risky assets should be given a wide berth.
The Swiss firm sees value in small- and mid-cap real estate secondaries purchases, as more secondaries sellers come to market.
Stefan Szczurowski has relocated from Investec's Sydney office to London to strengthen the bank's lending capabilities.

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