Ray Fang, a Private Equity Real Estate partner and lawyer at Goodwin, says the UK life sciences segment is maturing as investors become more discerning. He describes how in the past investment was somewhat driven by pandemic tailwinds, “and frankly, a fear of missing out”. “Private equity funds and institutional investors were making [good returns] and so others looked to increase their exposure in a broadly thematic way,” he explains. “Capital allocators were just that — they were allocators. Whereas now investors want specialised offerings, strong operators, and demand more discipline. It’s a lot more fundamentals-led and a lot less speculative." He added. “But actually, if you know what you’re doing or can partner with an operator who does, startups succeed, move into larger premises, and you can shape the real estate ecosystem around them."
Please read the Institutional Real Estate, Inc. article for more.