News Summary

• Continuation vehicles are funds similar to those that aided real estate managers to hold on to assets during the 2008 Global Financial Crisis.
• In an effort to avoid selling at a loss and with refinancings far more challenging due to higher borrower costs and more stringent underwriting standards, continuation vehicles are another means of maintaining assets until the storm clouds clear.
• The increased use of continuation vehicles drove a 52 percent increase in GP-led deals in the real estate secondaries market in 2024, to $9.3 billion.