03.07.2013 - ADIA warns against 'funding PE exposure' through real estate
Low returns in core real estate are tempting investors to move up the risk curve, but they should beware of unwittingly increasing their exposure to "private equity", according to Abu Dhabi Investment Authority's (ADIA) head of real estate strategy. Paul Kennedy, who oversees the real estate exposure of the world's second largest sovereign wealth fund, told a conference in Cambridge, England, that leveraged and development-led property strategies should be funded by private equity allocations, or they risk "damaging" multi-asset portfolios........................................Full Article: Source
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