2020 M&A Market Review

Real Estate Investment and Funds Management

2020 Summary:

• Amid a prolonged pandemic, fewer transactions in 2H 2020; total transaction volume in 2020 below 2018 and 2019 levels

• Minority sale transactions represented 56% of activity, a significant increase from 2018 and consistent with expectations

• Volume of transactions targeting managers with sub-$7B AUM continues to grow

Themes to Watch in 2021:

1. Strong minority transaction volume as stakes buyers, including Petershill (Goldman Sachs), Dyal Capital (Neuberger Berman), and Bonaccord Capital (Aberdeen Standard Investments), continue to pursue deals and managers seek growth and/or strategic capital

2. Continued consolidation as large cap managers target specialists to access new products, sectors, and markets. For example, Oxford Properties’ announced purchase of Exeter Property Group in January 2021

3. Increased cross border activity driven by ease of virtual meetings

4. Uptick in transaction volume if a successful roll out of the vaccine allows for in-person meetings

Download the complete Market Review below:

Hodes Weill Associates - 2H 2020 MA Mark

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