This third edition of The Lending and Secured Finance Review comes at a particularly uncertain time for the financial markets. Although the debt markets have been relatively resilient in the face of a series of shocks, the economic outlook remains uncertain: concerns about Brexit, the slow pace of growth in the eurozone, exchange rate movements and the competitive threat posed by deregulation in the US to the UK and European financial markets are among multiple geopolitical risk factors on the horizon.
This publication is a multinational guide for understanding and navigating the increasingly complex and dynamic world of liquid real estate and the transactions that mostly produce it. The sea change in the markets, sometimes called the ‘REIT Revolution’, has meant that major real estate transactions have migrated from ‘Main Street’ to ‘Wall Street’. They now often take the form of mergers, acquisitions, takeovers, spin-offs and other corporate transactions conducted in the public markets for both equity and debt.
The importance of the asset management industry continues to grow. Nowhere is this truer than in the context of pensions, as the global population becomes larger, older and richer, and government initiatives to encourage independent pension provision continue.