The MIPIM Summit, organized by REP (Real Estate Publishers) and MIPIM, and televised by Bloomberg TV, brought together a panel of leading asset managers yesterday. A lively discussion ensued on the rapidly increasing wealth and power allocated to a select number of large asset managers. The invitation only audience, comprised of top investors, added their unique views to the debate. The Bloomberg video will be made available on www.europe-re.com.
FLTR: Steve Felix, Institutional Real Estate; Jeff Jacobson, LaSalle Investment Management; Dr. Raymond Torto, CBRE Global; Bill Krauch, ING Clarion; Johan van der Ende, PGGM; Chris Burns, Bloomberg TV.
The Summit, entitled 'The New Romans, threat or treat?' examined the phenomenon of pension funds, investment banks, and sovereign wealth funds allocating ever more capital among large asset managers. The core question was, does the power which accompanies these vast sums of money pose a threat or is it in reality a treat?
Bill Krauch, Head of Global Marketing, ING Clarion.
Bill Krauch, Head of Global Marketing at ING Clarion, with €150 billion in the market, said the New Romans should largely be viewed as a treat. Financial pools like sovereign funds have a long term focus and are not upset by short term moves in the market. Krauch sees them as a way to help stabilize the market.
FLTR: Bill Krauch, Head of Global Marketing, ING Clarion; Johan van der Ende, Director Structured Investment PGGM; Chris Burns, Journalist, Bloomberg TV.
Johan van der Ende, Director of Structured Investment at PGGM, agreed. PGGM's sole client these days is the