Welcome to the September 2016 edition of JLL Corporate Finance’s Secondary Market Bulletin for Asia Pacific.
Portfolio rebalancing continues to be the leading theme as we survey seller motivations across the region. On the buy side, accessing best in class funds and liquidity driven opportunities in funds in late stages of their fund lives continue to be the dominant motivation for buyers. Price expectations between buyers and sellers are converging, supporting an expectation of a high volume of transactions for the remainder of the year. Australia will be a key market for activity given current pricing conditions and the continued attractiveness of that market for unlisted investors.
The SMB provides a summary of secondary market opportunities for buyer and seller interests in unlisted real estate funds across the Asia Pacific region, including pan-Asian and country-specific vehicles. The SMB is maintained on an ongoing basis and distributed to participants on a quarterly basis. Participants include institutional investors in real estate funds across the region and include secondaries specialists, multi-manager investors, pension funds, sovereign wealth funds and other institutional investors.
The positions above are indicative only and subject to change. Please contact us for further information. In many instances, buyers and sellers will accept partial amounts of the value indicated.
We welcome additional indicative positions to add to our SMB for any unlisted real estate funds (globally). Should you wish to discuss buying or selling any units, please contact us.