Sector Investment 24 Hours

Last updated: March 21, 2026, 5:30 AM ET

Real Estate Capital Flows & Mandates

Activity in private real estate shows capital diverging from historical patterns, as proceeds from recent liquidity events are not returning to their original asset classes, according to observations made at MIPIM. Concurrently, institutional mandates are shifting, with the Chicago-based public pension fund issuing an RFP for managers specializing in non-core real estate investments. This movement contrasts with major private equity activity, where Apollo committed $1 billion to acquire a 49% stake in a new retail venture with Realty Income, structuring the deal to secure a fixed rate of return on the long-term, net-lease portfolio Apollo sought.

Fundraising Dynamics

In infrastructure fundraising, data suggests a recent reversal in typical capital formation timelines, as larger funds had been closing faster than their smaller counterparts until recently. This trend contrasts with prior expectations where smaller funds historically required more time to reach their final close, indicating a potential change in investor preference or market timing for established versus emerging managers in the infrastructure sector.