๐ฌ The beginning of the year seemed to us a good timing to ๐๐ฎ๐ธ๐ฒ ๐๐ต๐ฒ ๐ฝ๐๐น๐๐ฒ ๐ผ๐ณ ๐๐ต๐ฒ ๐ถ๐ป๐๐๐ถ๐๐๐๐ถ๐ผ๐ป๐ฎ๐น ๐ถ๐ป๐๐ฒ๐๐๐ผ๐ฟ๐ ๐ฐ๐ผ๐บ๐บ๐๐ป๐ถ๐๐, asking them about their expectations for the year.ย
We are happy to share some feed-back coming from consulting about a dozen of our contacts.ย ย
๐ The recent decrease of LT interest rates is perceived as positive by some investors in terms of valuation of assets and impact on the economic evolution, but some remain nevertheless in a โwait & seeโ position in terms of investment decision because of the uncertainty about the future evolution of LT rates which create some potential volatility in valuation.ย
๐ Limited growth expected in Europe in 2024 (around 1,5 %)
๐ Some investors have already an identified pipeline that represent 50 % of their 2024 allocation
๐ Risk aversion remains present and a preference is often expressed for more mature projects that already generate cash-flows versus early-stage projects. Strength of the (finance) team is key and also the quality of the reporting .ย
๐ย Some investors have unsurprisingly told us that they are more and more focusing on reputational risk and ESG within companies. ESG criteria are obviously becoming increasingly important.
๐ Crowdlending platforms have globally seen the raised volume decrease in 2023 in comparison with 2022, while some players managed to maintain it.
๐ Regarding the real estate sector, we feel a more positive attitude in comparison with last year and some willingness to consider investment opportunities
๐ Some investors are keen to diversify away from Real Estate or other traditional asset classes towards infrastructure, energy or Real Estateย in alternative specialized activities such as youth or mental healthย
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