IREI: Why liquidity and vehicle structure matter more than ever in private markets
The biggest private markets risk today isn’t credit, it’s liquidity. Vehicle structure, governance and duration alignment are becoming critical drivers of outcomes.
Commercial real estate recovery is occurring, just very slowly, says Greg Friedman. He says liquidity in the housing market will offer the next leg of growth for this corner of the market. However, commercial real estate faces headwinds against banks. When it comes to "winners and losers" in the space, multifamily units is a sector Greg considers a winner and mid-term hotels as a short-term loser.