Letter from Brussels

We definitely live in interesting times but, as the ancient Chinese saying suggests, we could actually be cursed. 

While the non-listed real estate industry has worked hard to keep business running as usual during the pandemic, policy makers and regulators in Brussels, Paris and London have as well. They have pursued regulatory reform and, in recent months, we have been inundated with a record number of consultations on a variety of topics from AIFMD, Solvency II, ELTIFs and sustainability to minimum tax and AHCs in alternative fund structures.