The rush of M&A deals among real estate fund managers is a “warning sign” about the state of the market, according to a senior investment consultant.
Last week, Lothbury Investment Management joined a growing band of UK-based managers including Rockspring, Mayfair Capital, Internos and Tristan Capital that have either sold their businesses entirely or sold significant stakes over the past 18 months.
Japan’s Nomura Real Estate Holdings acquired a 75% stake in Lothbury, which has about £2.1bn in assets under management.
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