Brookfield in $1.7bn deal f or National Grid’s US onsho re renewables biz; Heitman to buy self-storage operator

Also of note (may require subscriptions)

GP staking may be encouraging LPs to invest directly in managers: Of 43% of LPs who today commit capital to GP stakes funds, more than half are contemplating investing directly in managers, a McKinsey & Company survey found. (Buyouts)

‘It’s really important investors are aware of the risk profile’, LP consultant warns. Matthew Ritter, head of real assets at NEPC, is not against funds that are ‘more private equity-like’, as long as LPs understand the risk. (Infrastructure Investor)

Sculptor raises $3bn for fifth flagship fund, its largest ever: The manager also more than doubled the size of its non-traded REIT last year after pulling in another $270m. (PERE)

CVC hires ex-Robeco exec to lead global insurance coverage: The private equity giant is understood to be aiming to raise more capital from insurers as they seek bigger allocations to private markets. (Private Equity International)

Portugal farmland sale adds to institutionalization of Iberian ag – CBRE. Investors in the region include Climate Asset Management, Fiera Comox, PSP Investments and Ontario Teachers Pension Plan, among others. (Agri Investor)

Deals

They said it

“The Swedish self-storage sector has among the best fundamentals in Europe, combining strong population growth with high urbanization rates and mobility of households.”

— Caleb Mercer, managing director for Heitman’s European real estate investments and portfolio manager for the Heitman European value-add fund series

Today's letter was prepared by Craig McGlashan

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