Funds aim to keep up with the flows

The investment market is becoming ever more competitive as structural change brings higher allocations to real estate, writes Laurence Neville

Carrafiell: Local knowledge
is vital to success

The real estate investment management market has ballooned in recent years. According to figures from real estate services company DTZ, public or listed equity holdings in Europe were €148 billion in 2004 while privately held funds totalled €880 billion, of which €183 billion was held by pension funds. Both private and public equity – especially the latter given the continuing spread of real estate investment trusts (Reits) – are thought to have grown substantially in 2005.

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