The Future of Real Estate Secondaries Amidst COVID-19

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ABOUT THE VIRTUAL EVENT

After a great year for the real estate secondaries market in 2019, 2020 has been quite the opposite with the number of transactions slashed. Couple that with widely varied risks and opportunities across sectors like the bio-tech and data center sectors versus the retail, hospitality, and senior living sectors and it's hard to pinpoint what the future holds. Hear our experts discuss the uncertainty around asset valuations, COVIDs long term impact on deal flow, and the outlook on fundraising for the rest of 2020 and beyond.

 

  • What have been the biggest impacts of the COVID-19 financial crisis on the secondaries market?
  • How is the uncertainty around valuations impacting transactions?
  • What are you seeing in terms of real estate secondaries deal volume and prices and what’s the future outlook?

 

PLUS, a new feature for iGlobal Live – attend a live virtual event and be personally introduced to a speaker of your choice. This is only available for attendees of our live events, and places are limited, so secure yours now to stay connected and stay informed.

 

 

 

 

 

Moderator

Cari Lodge is Head of Secondaries and a member of the Investment Committee. 

cari lodge

Cari Lodge

Managing Director and Head of Secondaries

Commonfund Capital

Her
responsibilities include oversight of due diligence, underwriting, manager selection and
investment management for the firm’s private capital Primary, Secondary, Co-Investment and
Distressed Capital programs. Prior to joining Commonfund Capital, Cari was at Tulane
University’s Investment Management Office where she was responsible for overseeing the
private equity and private real assets investments for the $1 billion endowment. Prior to Tulane,
she was at Credit Suisse Strategic Partners, Credit Suisse’s dedicated secondary private equity
fund with over $11 billion in commitments and interests in over 1,300 funds. Cari was a member
of the investment committee, co-managed the $750 million aged primary program, and closed
over 115 secondary transactions and co-investments for over $1.25 billion in total capital
obligation. She worked with the team for twelve years since its founding in 2000, having started
with Donaldson, Lufkin & Jenrette (which merged with Credit Suisse in 2000) as an Associate in
Investment Banking. Cari is presently a member of the advisory board of several private capital
limited partnerships. Cari is also a member of the Investment Committee of her alma mater, The
Hotchkiss School. She received an A.B. from Dartmouth College in both Economics and
Government and an M.B.A. from Columbia Business School.

Panelist

Boriana Karastoyanova, Senior Vice President, is a Principal of Neuberger Berman and a member of the Secondary Private EquityTeam.

Karastoyanova_Boriana_Sitecore

Boriana Karastoyanova

Principal

Neuberger Berman

 

Boriana Karastoyanova, Senior Vice President, is a Principal of Neuberger Berman and a member of the Secondary Private EquityTeam. Prior to joining Neuberger Berman in 2019, Mrs. Karastoyanova was with Blackstone's Strategic Partners Fund Solutions where she focused on originating, evaluating, structuring and negotiating secondary private equity transactions, co-investments and primary commitments. She previously was with Strategic Partners while it was in the Asset Management division of Credit Suisse. From 2005 to 2008, she led Strategic Partners' European operations out of London. Mrs. Karastoyanova began her career in Investment Banking at Citigroup. She is a graduate of Middlebury College.

Panelist

Gerald Guterman is a “hands-on” pragmatic, investment, finance and operational management executive and team leader, with a long term, continuously successful track record.

gerald

Gerald Guterman

Senior Principal Partner

Guterman Partners

Mr. Guterman’s background includes; limited income, market rate and luxury high-rise multi-family rental buildings and garden apartment residential communities, multi-tenant high-rise and garden office buildings, mixed use developments and full-service hotels, throughout the United States.

As Senior Principal Partner of his firm, Mr. Guterman directs acquisitions and participates in all final Board decisions.

Gerald Guterman is the only New York historical rehabilitation sponsor, whose grand openings of award-winning landmark building restorations, including the famed Stanhope Hotel, Fifth Avenue, Manhattan, New York, The Parc Vendome, West 57th Street, Manhattan, New York and Gramercy House, East 22 Street, Manhattan, New York, were sponsored by the New York City Landmarks Commission, under the direction of Mrs. Brooke Aster and Mrs. Jacquelyn Kennedy Onassis.

As part of his duties as Senior Principal Partner, Mr. Guterman also directed the operations of two nation-wide construction companies: Titan Group, Ltd and Sovereign Construction Co. Ltd.

Gerald Guterman is well known for his deep and continuing interest in education, as well as his active and continuing participation in charitable work.  Mr. Guterman has five children and four grandchildren.

 

Panelist

Sarah Schwarzschild is a Managing Director, Co-Head of Metropolitan Real Estate and Global Head of Secondaries.

SARAH

Sarah Schwarzchild

Managing Director, Co-Head - Metropolitan Real Estate & Global Head – Secondaries

The Carlyle Group 

 

Sarah Schwarzschild is a Managing Director, Co-Head of Metropolitan Real Estate and Global Head of Secondaries. With more than 10 years of experience in real estate, she is responsible for sourcing and evaluating investment opportunities globally. Ms. Schwarzschild also manages Metropolitan’s Secondaries funds and separately managed accounts and co-manages the Metropolitan platform. 

Prior to joining Metropolitan, Ms. Schwarzschild led Partners Group’s real estate Secondary team in the United States., where she was responsible for acquisitions as well as the portfolio management of Partners Group’s dedicated real estate Secondary capital totaling more than $2 billion. In addition, she was involved in management and business development activities for the real estate Secondary practice globally. Prior to joining Partners Group, Ms. Schwarzschild was an Assistant Vice President in the acquisitions team in the Global Opportunity Funds group at RREEF. She began her career at Rothschild as an investment banking analyst in the M&A and Private Placement groups.

Ms. Schwarzschild received a BA summa cum laude from University of Pennsylvania and an MBA with honors from Tuck School of Business at Dartmouth University.

 

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September 29th, 2020

Full Access plus on-demand recording  $99

 

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