Report from Europe: Real estate debt and the illiquidity premia

Why is the illiquidity premia delivered by investment-grade private debt so healthy at present? How does the extra returns for real estate debt compare with that of other asset classes or sectors, both currently, and historically? And what implications does that have for investors? And how does the illiquidity premia change over the course of a market cycle? David Hedalen, head of private markets strategy and research and chair of the global strategy committee at Aviva Investors, explains all. (11/10/26)