Seeking value creation in real estate equity through active management
We bring together our research-led view on key thematic trends and a deep understanding of local market dynamics across the UK and Europe. Investing with conviction and discipline, we aim to find value in the places where people want to live, work, play and learn and focus on long-term demand drivers and structural changes. We aim to create value for investors through active management throughout each asset’s lifecycle.
Our product suite aims to meet client needs across the risk spectrum. We can tailor our real estate equity solutions as part of broader multi-asset or multi-sector offerings, or they can be focused on specific thematic opportunities by sector or geography. We seek to deliver alpha by leveraging our collective market insight into the inherently inefficient and cyclical nature of real estate.
Why invest?
Real estate equity can create value to meet a variety of investment goals.
Value creation
We aim to enhance returns through asset repositioning, development and rigorous active management.
Illiquidity premium
The private nature and high barriers to entry of the asset class, typically command an illiquidity premium.
Full risk spectrum
A wide array of solutions to meet a diverse set of investment objectives.
*ESG integration means the integration of ESG factors and consideration of sustainability risk as part of the investment decision making process. This process is applied beyond any specific binding constraints (in the objective or strategy of the fund as detailed in the prospectus or investment management agreement and in accordance with our Baseline Exclusions Policy). The investment manager retains discretion on decision making taking all risks into account, beyond any binding criteria.
Key risks of real estate equity
Investment risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Real estate risk
Where funds are invested in real estate, investors may not be able to redeem any units in the fund when they want because real estate assets may not always be readily saleable. If this is the case, we may defer a request to switch or cash in shares or units.
Valuation risk
Certain assets held in the fund could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.
Investment insights
Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.
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Illiquidity premia in private debt: Q1 2025
16 May 2025
In our latest private markets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Private debt for DC pensions: The multi-sector opportunity
11 Feb. 2025
As the search for better retirement outcomes for the 28 million members of the UK’s defined contribution (DC) pension schemes continues, where are the opportunities for DC investors in private debt and how can they be harnessed?
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Relative value in private markets: Positive but selective
29 Jan. 2025
Using proprietary data, our private markets research team compares risk and return across sectors.
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Illiquidity premia in private debt: Q4 2024
27 Jan. 2025
In our latest private markets deep dive, our research team crunches the data to see how evolving macroeconomic conditions are reflected in private debt returns.
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Illiquidity premia in private debt: Q3 2024
30 Oct. 2024
In our latest private markets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Illiquidity premia in private debt: Q2 2024
6 Aug. 2024
In our latest real assets deep dive, our research team explains how our data on illiquidity premia indicates the benefits of a multi-asset approach to private debt investing.
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Relative value in real assets: A spectrum of opportunities
2 Aug. 2024
Our real assets research team drills into proprietary data to compare risk and return across sectors.
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Illiquidity premia in private debt: Q4 2023
12 Mar. 2024
In our latest real assets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Common ground: Earning a social licence to operate in real asset investing
18 Jan. 2024
Successful real asset investing requires acceptance of asset managers’ practices and procedures from a variety of stakeholders. We explore what this means for managers, their clients and investment outcomes.
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Plus ça change…The outlook for infrastructure debt in 2024
11 Jan. 2024
Infrastructure demonstrated characteristic resilience in 2023 in the face of significant macroeconomic headwinds. Darryl Murphy from our infrastructure team explains why he expects current themes to persist in 2024.
Seizing the moment: The outlook for real estate debt
Gregor Bamert, Sima Kotecha and Nick Solomon discuss the recovery in real estate debt markets in 2024 and the opportunities emerging.
Private Markets Study 2025
In the seventh edition of the study, we collected the views of 500 institutional investors around the world. We delved into some of the key questions facing private market investors today: Why do they invest in private markets? How do they expect the asset classes to perform over the next few years? What are the biggest barriers to investing today? And how do they incorporate sustainability?
House View
No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.
Real estate equity team
Meet our real estate equity investment team.
Imogen Ebbs
Head of Strategic Investment & Growth, Active Equity
James Stevens
Head of Investment – Global Real Estate
George Fraser-Harding
Head of Pan-European Funds, Real Estate
Explore
Private markets
As one of Europe’s largest private markets investment managers, we have the scale to access the full depth and breadth of private markets.
Real estate
Outcome-oriented solutions in real estate, across equity debt and long income, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.