Hedge Fund managers are expected to create excess investment returns (Alpha) through two primary skills based sources: (i) Security selection: buying undervalued securities and selling overvalued securities (ii) Market timing: entering markets in advance of, or when they are rising and exiting,...

The economic stimulus provided by abundant liquidity, low or negative real interest rates, and, in many markets, the rapid and dramatic appreciation of multi -family housing sets the economic backdrop for real estate markets. Against this backdrop, commercial real estate investment markets have...

NTRs typically invest in sector specific real estate programs, targeting stable, fully occupied properties subject to long-term leases to strong credit tenants. They are thus able to generate immediate, durable, rent-driven cash flows from the inception of the investment as capital is deployed...

In this paper we analyze mezzanine capital's investment characteristics; make the distinction between mezzanine capital and high yield debt; explore supply and demand factors that drive pricing; point out similarities and differences in its usage in the U.S. and Europe as well as highlight...

Alternative asset classes have varying degrees of tradability and structural liquidity. This article outlines illiquidity considerations as well as the pros and cons of investing in illiquid instruments and long dated trading strategies. Investing opportunity sets in inefficient market cycles...

This paper explores capital commitment and cash-flow management issues in private equity fund investing. It provides a theoretical framework to structure private equity capital commitment issues in a formal manner, and defines variables, inter-relationships, and boundaries in such a way that the...

This article makes a case for private equity investing in Asian real estate - India and China. In so doing, it focuses on the drivers of commercial real estate demand as well as the risks associated with such investments

Theis paper provides a broad framework to understand credit investing, from an alternative investments perspective. It brings a practitioner's perspective, interesting nuanced insights, dispenses with artificial distinctions in integrating private equity and hedge fund formats, touches upon...

While the first three parts of this series provided an overview of the nature, benefits, risks and strategies of private equity investing, this fourth and last installment turns to implementation topics. In particular, we cover various aspects of private equity portfolio construction, as well as...