Name: Execution is key: potential opportunities in U.S. private real estate
Start: 2024-09-05T14:00:00Z
End: 2024-09-05T14:00:27.000Z
Location: BrightTALK
Rating: 4

This webcast channel is for pension funds and other institutional investment professionals in Europe, the USA and Asia. It is particularly relevant for pension fund executives, trustees, consultants and investment managers. IPE will be bringing its community live interviews with leading figures in the market, hosting roundtable discussions on specific topics such as asset allocation and also sharing latest thought-leadership from investment experts.

The global transformation to sustainable energy is one of the most important investment themes of our generation. And as governments and businesses across the globe are seeking to decarbonize, the economic landscape has shifted over the course of 2024 with inflation and interest rates lowering in many developed countries. How are these dynamics impacting the investment case for private infrastructure as we move into 2025?

Join Nuveen’s experts Don Dimitrievich, Portfolio Manager, Energy Infrastructure Credit, and Joost Bergsma, Global Head of Clean Energy, Nuveen Infrastructure, who together have more than 50 years of infrastructure investing experience, as they discuss where they are seeing investment opportunities, the key trends driving the sector’s evolution, the impact of recent political elections on infrastructure policy, and how the growth of digitalization is increasing the need to invest in sustainable power globally.

Additional topics include:
- The case for investing across both equity and credit
- Risks to consider in the current market
- Nuveen’s approach to investing globally across their platform
- The evolution of the North American and European energy markets
- The benefits of investing in non-investment grade infrastructure debt

Powering tomorrow’s energy infrastructure

Wie wirkt sich eine zweite Amtszeit Donald Trumps auf das Wirtschaftswachstum und Zinssituation Europas aus? Wie positioniert er sich inmitten sinkender Inflation, geringem Wirtschaftswachstum und der aktuell vorherrschenden politischen Instabilität Deutschlands als größte Wirtschaftskraft Europas? Wo liegen die besten Chancen für europäische Staatsanleihen im derzeitigen Umfeld fallender Renditen? 

Lowie Debou, Portfoliomanager und Experte für Euro-Staatsanleihen bei DPAM, erläutert, wie er im aktuellen Marktumfeld Opportunitäten am europäischen Anleihemarkt zielgerichtet nutzt.

Der Fixed-Income-Experte beleuchtet zudem DPAMs Erfolgsrezept in dieser Anlageklasse und begründet warum hier ein aktiver Management-Stil hervorragend geeignet ist.

Nach der Wahl ist vor der Wahl: Chancen und Risiken am europäischen Anleihenmarkt

In an increasingly competitive direct lending landscape, deal origination is critical to achieving consistent returns across the asset class.

This webinar will explore the benefits of bank partnerships, including:
- Access to a greater number of loans
- Access to off market transactions with more conservative structures
- Access to deep local knowledge in banks’ individual loan markets
Our origination approach at Federated Hermes Private Credit is built around a series of bank partnerships that afford us access to some of the most attractive deals in our preferred segment. While our partner bank agreements provide us with the right of first refusal to a robust and continued pipeline of potential opportunities, they also grant us access to unique off-market transactions, further broadening the potential investment pool to transactions not accessible to any other direct lenders in the market. Going forward, this approach is designed to allow us to remain credit pickers – not takers – and perform regardless of market fundamentals through selecting the highest-quality opportunities in the market for our investors.
As well access to a consistent pipeline of potential investment opportunities, whatever the economic backdrop, partnerships with banks can also be leveraged to provide access to off market transactions with more conservative structures and better lender protection rights. This provides investors access to portfolios of loans with appealing risk reward parameters.
In addition, banks benefits from deep local knowledge in their individual loan markets, providing a competitive advantage over other direct lenders.
It’s important to note however that that not all partnerships are the same quality. Here we will outline the pros and cons that different partnerships can provide.

The benefits of partnerships with banks in Direct Lending

In September 2024, abrdn multi-asset Investments Houseview upgraded global direct real estate to overweight for the first time since June 2022. This marks the start of a recovery phase in the typical five-to-seven-year cycle.

As we get a foothold on the first rung of the ladder, we cannot allow affordable housing to miss out again this cycle. According to the UN, 1.6 billion people worldwide currently lack adequate housing and basic services, with projections that this number could rise to 3 billion by 2030.

At abrdn Investments, we have thirty years’ experience in investing in residential real estate and have amassed a portfolio of over €9 billion in the sector. This sizeable residential platform enables us to make more informed decisions across our strategies. It has also helped us to develop our own methodology to assess the affordability of housing at the market, fund, and asset levels.

While we believe investing in affordable housing, is a long-term structural opportunity, timing still matters. Opportunities for private capital are growing today, across a strategic mix of privately managed affordable housing, subsidised housing and social housing, all of which can help alleviate the pressures in housing provision.

Germany offers a wide range of national and regional subsidies to support the development of affordable and energy-efficient housing. This complex field varies by state and municipality, requiring in-depth local knowledge and a strong network with developers and banks.

In this webinar, we will examine the measurement of affordability and delve into the opportunities to invest in affordable and subsidised housing. We will showcase examples of subsidies in Germany, their benefits, and the challenges and risks involved and demonstrate why local expertise is crucial across timing, design, and quality of affordable living.

Join us as we explore these opportunities and redefine what it means to live affordably in today’s economic landscape.

Time to Live a Little: Capturing Opportunities in Affordable Housing

Index inclusion has thrust Indian government bonds (IGBs) into the limelight, driving a wave of index inflows from overseas investors.
 
But what are the capital gains and withholding tax considerations investors need to consider? And how does the choice of fund vehicle affect the overall drag on returns for overseas investors, is it possible for investors to gain efficient exposure? Join our webinar to discover the ins and outs of IGBs from a practical perspective.
 
The webinar will be hosted by Lee Collins, Head of Index Fixed Income at LGIM. He’ll be joined by two external tax experts who will share their in-depth expertise:

• Nicola Sheridan, Director in the Asset Management Tax practice at PwC Ireland
• Vishal Khanna, Partner, Pricewaterhouse & Co, LLP.
 
The webinar will include a Q&A session after the presentation to allow you to ask the experts any additional questions.
 
We hope you can join us for what promises to be an extremely informative webinar.
 
Tax treatment is dependent on individual circumstances and is subject to change.

Indian government bonds and tax – what you need to know

- Johanneke Maenhout on the power of additionality in impact investing

- Sebastian Carneiro on the role of energy efficiency in reaching our climate goals and how energy efficiency project debt complements renewable energy investments.

- Paul Young on how an impact-driven approach makes investment returns and environmental responsibility entirely complementary

Impact Investing: Additionality, energy efficiency project debt and the impact-driven approach

Die meisten Fixed Income Manager konzentrieren sich bei der Auswahl von Anleihen auf drei Faktoren: Zinsprognosen, Duration und Rendite.
PT Asset Management (PTAM) geht über diese traditionellen Kennzahlen hinaus, was zu einer starken langfristigen Performance und erheblichem Wachstum ihrer US-amerikanischen Investmentfonds geführt hat.
Begleiten Sie in diesem Webinar den CEO von PTAM, Sean Dranfield, wenn er in die einzigartige Investmentmethodologie von PTAM eintaucht und erklärt, wie diese zu unterschiedlichen Ergebnissen führt und wie ihr Portfolio-Management-Ansatz eine Lücke im europäischen Markt für festverzinsliche Wertpapiere füllen kann.
Sean wird u.a. folgende Fragen beantworten: 
• Wer ist PT Asset Management (PTAM)?
• Wie unterscheidet sich der auf Mathematik basierende Investmentprozess von PTAM, Shape Management®, von traditionellen Fixed Income Managern?
• Welche Arten von Chancen werden durch Shape Management® erschlossen?
• Wie unterscheiden sich die Renditen in den USA mit denen in Europa?
• Wie kann PTAM Portfolio-Diversifikation und einen Hedge auf das Zinsrisiko bieten, die in traditionellen europäischen Bondportfolios fehlen?

‚All Weather’ bond strategy - a rate agnostics approach to fixed income investing

As the demand for carbon neutrality by 2050 intensifies, pension funds face increasing pressure to align their portfolios with net-zero goals while safeguarding the long-term financial stability of their beneficiaries. However, many institutional investors may hold misconceptions regarding the implementation and impact of these strategies on performance.
Join our experts for an exclusive discussion on the findings from recent research. Learn how pension funds can achieve alignment with their net-zero commitments while continuing to meet fiduciary duties and deliver sustainable, risk-adjusted returns for the future.
Key topics include:
• Real-world applications of climate criteria in the context of a global equity portfolio
• The role of forward-looking transition measures in a holistic climate solution.
• The importance of a strong risk management process in net zero solutions.

How to Align Net-Zero with your Returns Objectives

Explore what is happening in the Australian private commercial real estate debt (CRED) market.  Join MaxCap’s Group Head of Capital Robert Hattersley, Head of Research, Bruce Wan and APG Asset Management’s Head of Real Estate Asia Pacific, Graeme Torre.
 
In a webcast discussion moderated by Brendan Maton, they will review:

- How investment returns are faring 
- Address some of the myths and misconception about this nascent space
- Discuss why they view Australian commercial real estate debt as an island of stability
- Highlight some of the attractive opportunities in 2025 and;
- Share APG’s experience of investing in the Australian market.

For more information on the Australian CRE Debt Opportunity please contact MaxCap:
- MaxCap Group Contacts (attached)
- www.maxcapgroup.com.au
- Australian Financial Review article: Balance with Australian Commercial Real Estate Debt (attached)

Australian Real Estate Debt – The Island of Stability

*For professional investors only*

US high yield, we believe, may funnily enough offer investors one of the lower risk paths to sustaining positive returns as we head to the end of year. The strength of US high yield was highlighted by August’s market turbulence , with the asset class rebounding quickly when compared to the recovery of equities.  
Although events are afoot – most notably the start of Federal Reserve interest rate cuts and the upcoming presidential election - which may create some volatility, the characteristics that enabled high yield to remain resilient this summer may offer investors potential opportunities going into 2025.  

How can this resilience shape opportunities for investors?

Mike Graham, Head of US High Yield, Peter Vecchio, Senior US High Yield Portfolio Manager and James Wallace, Head of US Institutional Sales, discuss the US high yield market and offer their outlook. In addition, they will share their investment perspectives for our different US HY strategies. 

You will also have the opportunity to ask questions directly with our live Q&A session. So, don’t miss out and register now to secure your place.

Why US high yield may continue to be leaders of the pack

Whether focusing on ESG factors, managing concentration risks, or seeking specific factor exposures, custom indexes offer flexibility and precision in portfolio construction. Join our experts and learn how investors can harness the power of indexes as strategic tools for achieving superior portfolio outcomes while meeting their ESG objectives.


Key topics include:
- The evolution of the index landscape requires investors to rethink their investment approach
- How to address the increased concentration in passive portfolios
- Real-world application of a portfolio designed to meet the standards of the EU Paris-Aligned Benchmark.

How to navigate index evolution and ESG challenges

With AI on the rise, along with more and more reliance on digital applications, global demand for data centres is surging. The specialised infrastructure, importance of renewable power sources and long-term tenant relationships are unique features compared to other property sectors.
A lack of supply and high barriers to entry are creating a landlord-friendly market and characterizing a compelling investment opportunity underpinned by robust fundamentals.

So how can institutional investors capitalise on the long-term income and diversification benefits of this specialist sector? 

We’ll explore. 
• The rise of data centres
• Who are the tenants?
• The US data centre market
• The European data centre market
• Why now?

Disclaimer: Investing involves risk, including possible loss of principal. Past Performance does not guarantee future return.

Data centres: The growth, the demand, the opportunity

India’s Prime Minister Narendra Modi's first two terms saw significant growth in Indian equities, driven by bold economic reforms and a pro-business stance, and attracting both domestic and international investors alike. As we look ahead, the question arises: Can a third term, marked by a weakened PM reliant on a coalition government, build on this performance? 
In this webinar, Matthews’s CIO Sean Taylor will explore the outlook for Indian equities under Modi 3.0 and how to construct a resilient and dynamic India portfolio in times of rich valuations, a weakening U.S. dollar, and heightened global geopolitical risk. He will discuss: 
• The changed economic and geopolitical landscape facing Modi in his third term. 
• Investor sentiment towards India in the coalition era.
• Can the coalition government agree and deliver reforms to address India's bureaucratic inefficiencies and infrastructure deficits?
•  What is needed for ‘Make in India’ to succeed?
• The themes prioritised under the new budget and potential investment opportunities.
• How to navigate India’s rich valuations and construct resilient portfolios.

Modi 3.0: A New Dawn for Indian Equities?

A set of megatrends is reshaping the world, creating new opportunities and risks for investors in private markets. Our research team categorises the forces at play into five overarching themes:

T = Technology: In an increasingly global digital economy, driven by automation, systems, data and AI, technology will be a key driver of innovation and economic growth.

R = Responsible capital: Both private and public capital is increasingly focused on the need to deliver better social and governance outcomes.

E = Environment: Initiatives to decarbonise the built environment and protect biodiversity are gaining momentum.

N = New global order: A changing global economic and political landscape, and the impact of deglobalisation, will affect both global and local mobility.

D = Demographics: Ageing populations and lower birth rates will result in changing societal needs and new economic challenges.

Our research explores each of these trends in turn and delves into the investment implications across infrastructure, real estate and private debt.

Private Markets Global Megatrends.

With increasing social and environmental challenges facing the world, there is a need for companies to help solve these problems. An opportunity exists for companies to develop products and services that can be used to positively impact the world. By leveraging the framework of the Sustainable Development Goals (SDGs) it is now possible for investors to benefit from impact investing opportunities in liquid markets.

Successful impact investing requires multi-dimensional solutions that not only target companies with alignment to SDGs, but also those with strong ESG and fundamental attributes while balancing risk considerations. More so, every asset owner has unique sustainability and return targets, so impact portfolios must be flexible and tailored.

Join Gavin Smith (Head of Equity Research and Sustainable Investing) and Stacie Mintz (Head of Quantitative Equity) at PGIM Quantitative Solutions to delve into impact investing by exploring:

•        How factor investing helps intersect upside returns with impact
•        The role of combining SDG and ESG insights in impact portfolios
•        Balancing the tradeoff between risk and impact through careful customization
•        Gaining exposure to specific SDGs that align with investor preferences

SDGs: A Liquid Market Approach to Impact Investing

Investing in mid-market infrastructure offers several advantages to institutional investors such as access to unique opportunities with higher growth and diversification potential, which are supported by various mega trends such as the green deal in particular.

In our main investment areas, namely energy and transportation, we highlight the following examples:

Battery storage – enabling the net zero grid of the future

-What are the main trends that have led to the exponential adoption of battery technology?
-What are the major challenges and trends in European BESS projects?
-Case Study based on one of the largest battery storage plants in Germany
-Do batteries have a role to play in longer duration energy storage?

Upgrading Europe’s transportation infrastructure
- The impact of the green deal on the transportation sector is underestimated today and leads to various investment opportunities
- Case study based on the leading rail track maintenance company in the DACH region

Mid-market investment opportunities in the energy & transport sector

Al Rabil, CEO, Kayne Anderson, and Co-Founder and CEO, Kayne Anderson Real Estate, will cover:

- The impacts of US macroeconomic policy on US-based real estate and why alternative sectors are poised for success in the future.
- How shifting demographics in the US are reshaping demand and pushing formerly niche real estate sectors into the spotlight.
- How a shifting economic landscape in the US is creating opportunities for experienced and well capitalized firms to create strong risk-adjusted returns.
- A discussion around the opportunities ahead for alternative real estate assets across equity and debt vehicles.
- How ESG factors are coming into play and central to several strategies.

Demographics are Destiny – Why Alternative Real Estate Sectors Are Attractive

Uncertain and volatile markets in recent years have led many investors to retreat and wait for clarity before allocating capital. In this context, assets with stronger credit metrics have been the natural area of focus, whilst private markets have also offered a haven from volatility. We believe that those looking at traditional developed markets (“DM”) opportunities could benefit from incorporating select emerging markets (“EM”)  private loans in their portfolios, to take advantage of higher yields for comparatively stronger credit exposure.

RBC BlueBay’s Polina Kurdyavko will explore some of the main themes in EM private loans and discuss her insights.

 Key topics include:
• The current opportunity set in EM private loans vs developed market private loans
• Why selecting EM exposure can reduce risk in investor portfolios, dampen volatility and materially enhance returns
• Explore some of the key misperceptions that have historically held investors back

RBC BlueBay: Why emerging market private loans, and why now?

Private real estate credit’s share in the U.S. commercial real estate lending market has grown to fill the void left by the banks. Markets are divided as to whether U.S. commercial real estate prices have bottomed. Join us for a discussion on where the U.S. commercial real estate lending markets will likely go and where the opportunities and risks lie. Questions to be explored include:

- Does rate policy divergence represent a turning point? How should investors think about likely near-term change?
- Why U.S. commercial real estate credit and why now? What’s the medium-term outlook for opportunities and risks in commercial real estate credit?
- What can be expected for commercial real estate credit over the long run?

Execution is key: potential opportunities in U.S. private real estate

United States

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Lending Markets

Outlooks

Research and Forecasting

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Execution is key: potential opportunities in U.S. private real estate

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