In the past few years, a growing number of funds have reached the end of their life and the process to liquidate, restructure or extend has been undertaken. The success of this procedure appears to have been somewhat mixed leaving some investors and fund managers, no doubt, frustrated and disappointed. This led to INREV, AREF and IPF setting up the End of Fund Life Project.
The Project Team, consisting of senior real estate professionals, undertook an extensive period of consultation, with over 30 industry representatives being interviewed from the UK, Europe and the US about their knowledge and experiences in the process of winding up or extending real estate funds in the last 10 years. In addition, three workshops were held in Amsterdam, Jersey and London to attain feedback.
At the launch event in September 2016 the Project Team launched their findings in a report which outlined guiding principles and best practice to help improve the end of fund life experience for all those involved.