Publications

- May 1, 2019: Vol. 13, Number 5

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Pictet Alternative Advisors launches smart gateway cities fund

by Andrea Zander and Jody Barhanovich

Pictet Alternative Advisors has launched a smart gateway cities fund.

The fund will invest in real estate assets and related companies in Western Europe across sectors such as offices, residential assets, student and senior accommodation, as well as light industrial assets.

It will be managed by Zsolt Kohalmi, who joins PAA from Starwood Capital, where he was head of acquisitions in Europe.

“Europe, on a risk-adjusted basis, remains a compelling investment opportunity in real estate. Asia has record-low cap rates, translating to record-high capital values, and the United States is far along in the cycle, and has a higher interest rate environment that may eventually lead to cap rate expansion. Meanwhile, Europe has stable cap rates due to continued low interest rates, and is finally seeing rental growth come through, making it, in our view, currently the most attractive global market for real estate investment on a risk-adjusted basis,” said Kohalmi.

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