Blueprint: GPIF’s upsized real estate allocation, Starwood’s equity haul for Fund XIII, PGIM’s entry into Australia real estate debt

Japan’s Government Pension Investment Fund has upped its allocation to private real estate, despite being the only alternative asset class in the investor’s portfolio to record a dip in return during its 2023 fiscal year; Starwood nears halfway mark in its capital raise for Fund XIII, showing little impact from SREIT’s woes; HIG Capital wraps up its third European value-add fundraise, marking the largest fund targeting the region to close this year; and more in today's briefing, exclusively for our valued subscribers.