自全球金融危机以来，私募股权房地产基金筹集和部署的资本增长令人印象深刻. More than $1 trillion has been allocated to such funds in the last 12 years.1 And both the growth rate—and the resulting quantum—do not appear to be slowing down.
随着主要资本投资的增加, a natural corollary market tends to develop in the form of secondary transactions. 简单地说, 二级投资是对现有资产的投资, 带来新股本的结构或情况, 重置投资的时间，并重新调整其所有权.
房地产是二级市场中一个颇具吸引力的领域, particularly given the advent of transactions known as GP-led recapitalizations. Once seen as a way to recapitalize assets that were difficult to sell, 这些交易现在被普通合伙人(gp)认为是留住他们最好资产的机会. 对于这些二级市场的投资者来说也是如此, 由gdp主导的资本重组通常提供了一个获得高质量资产敞口的机会，而这在以前是遥不可及的.
事实上，房地产二级资产管理规模达到了2.7% of all real estate AUM at the end of September 2020—up from less than 1% at the end of 2013.2 And we expect that ratio to continue to increase as more GP-led recapitalizations hit the market. 此外, 可投资的领域是广阔的，因为几乎所有的商业地产资产都是二级交易的候选者, 不仅仅是基金领域.
Yet, it’s important to remember that new opportunities can bring new complexities. As GP-led recapitalizations are quickly becoming the future of the real estate secondary market, uedbet安卓认为，充分利用这些机会需要拥有专业的经验和专业知识, 经营和投资房地产.