Difference between RE investing for pension fund vs MF REPE?
Hi all,
I'm interested in understanding better the differences between the way that RE shops that invest/develop/manage on behalf of pension funds operate and the large (MF) REPE shops, both on a structural level and in the day-to-day in the office.
Many thanks,
Based on the WSO Dataset, the differences between real estate (RE) investing for pension funds and multifamily (MF) REPE (Real Estate Private Equity) shops can be outlined as follows:
Capital Allocation and Investment Strategy:
Structural Differences:
Day-to-Day Operations:
Investment Horizon and Returns Expectation:
Risk Tolerance:
Understanding these differences can help in appreciating how investment strategies and operational focuses are tailored to meet the specific needs and goals of these distinct types of investment entities.
Sources: Difference between REPE, GP, LP, debt fund?, RE at Pension Funds in Canada - What do they do?, Ask Me Anything: REPE Investment Professional, Difference between REPE, GP, LP, debt fund?, Learning how different REPE funds operate, raise, and deploy capital
MFs main investors are usually pension funds too
If you mean the large pensions that mainly do direct investments, I.e. Canadians. They only do core + long term investments so pretty low octane vs true opportunistic REPE. Nowadays a lot of overlap as the big REPE players do a lot of core + but it isn’t really what they’re known for. Generally sleepier and underpaid.
Interesting, any insight into Omers/Oxford properties specifically?
All of the above applies.
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