1、2023GLOBALOUTLOOKFINDING VALUE AFTER THE GREAT RESETMAY 2023INVESTMENT RESEARCHFor Professional Investors only.All investments involve risk,including the possible loss of capital.High Conviction Investment ThemesWe identify two categories of opportunities we believe are among the most attractive on

2、a risk-adjusted basis in current market conditions:PUBLIC MARKETSWith the correction in private markets still ongoing,REITs ofer an attractive entry point and the potential for taking listed names privateMEXICO INDUSTRIALAcquisition and development of Mexico industrial properties that service increa

3、singly value-added manufacturing industriesSTUDENT&SENIOR LIVINGOperational living sectors are set to benefit from strong age demographic tailwinds,and ofer potentially higher returns to investorsTARGETED GRADE A OFFICESTight supply and afordable rents support selective CBD investment opportunities

4、where ESG criteria are being metTOURISM-DRIVEN REAL ESTATERecovering cross-border travel is boosting demand for tourism-related real estate sectors like prime high street retail and hotelsLOGISTICSDemand for logistics space remains robust,driving equity and financing opportunities in prime markets,f

5、ast-growing segments and selected development projectsAFFORDABLE RENTAL HOUSINGThe resilient income streams generated by afordable housing are attractive,with worsening afordability and rising urban populations driving demandDATA CENTERSDemand for data centers remains structurally strong,driven by t

6、he secular growth of digitalization across all major economic sectorsLENDING INTO THE FUNDING GAPBank regulatory pressures and falling values mean a funding gap is emerging,opening up opportunities for nonbank lenders across the capital stackAMERICASEUROPEASIAPACIFICALL REGIONSEquity&Debt:Deploying