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Panelists, with a mix of bearish and bullish perspectives, will battle out their perspectives on what the macro-economic outlook means for CRE investment in the near-term.
- From tax reform to immigration policy to trade tariffs to healthcare policy to investment in infrastructure, what has been the direct/indirect impact of the current Administration on CRE to-date? What to expect in the last two years?
- What domestic and global macro-economic trends will have the greatest impact on US CRE investment in 2019? How?
- Rates – up, down or sideways? What will be the impact on CRE?
- Prices and their drivers: Where are they climbing vs. levelling off vs. coming down and why
- 2019 drivers of growth in US CRE/its investment vs. inhibitors
- An educated guess: The current cycle will end by……
- National vs. local cycles: What sectors would hold up in a down-cycle?
- International capital flows into US CRE: Any anticipated changes to 2018 trends? Why?
- What has been the direct/indirect impact of recent natural disasters on CRE investment?
- In conclusion: Are you optimistic or pessimistic about CRE investment over the next 2 years and why? (Neutral is not allowed)
- How far has the CRE industry come in the ten years since the Great Recession hit bottom?
- To what degree has the CRE market bifurcated into the ‘haves’ and ‘have nots’?
- Primary, secondary, tertiary market update: How is NYC looking? CA? Are secondary/tertiary markets the new primary? What are the geos to watch this year?
- Where are prices differentiating across property types? Which sectors are benefitting vs. losing?
- Interest rate and cap rate correlation: What can we learn from the past as an indicator of what to expect in the year ahead?
- What returns are realistic for core/core+/value add/opportunistic/debt today? Will the dial for any move in the near-term?
- Is the market at capacity for new lenders? What are notable debt market trends?
- Debt vs. equity: What to invest in today? How to decide where to put the greatest resources?
- Deal flow: What can we expect this year? What will be the main drivers/inhibitors?
- Capital flows and fundraising trends: What does 2019 have in store?
- Fund formats: The latest trends? Pros/cons? What’s proving successful in attracting institutional investors? How have tax changes impacted fund structures?
- Public-private: Will large scale take-overs continue in 2019? What are the drivers? Benefits?
- Construction costs: Where are they headed and what’s driving this? What to expect in 2019?
- Exits in today’s market
Warren de Haan
- Disclosure standardization and transparency: Templates, terminologies and metrics
- Good and bad ways to maximize fee income in volatile times
- Property sales while retaining management
- Construction, acquisition and property management fee benchmarks
- Which fees are receiving the most backlash?
- Incentive fees- What is the reasoning, procedure and impact?
- Using multiple benchmarks
- Prefs and promotes: In vs. out-of-the money
- Perpetual life vehicles, interval funds and hybrid discretion
- Asset management spinouts
- Time to dust off your carried interest replacement plans?
- Internal partnership structures
- Applying open-ended liquidity principals to closed-end funds
- Seed funds and their structure
- Evaluating the current market for carry structures
- Sweating the deal for early investors
- What are Qualified Opportunity Zone (QOZ) programs? How do the potential benefits compare to the challenges for investors?
- How to qualify for an QOZ program? What are the boxes that need to be checked?
- What further guidance can we expect from the Treasury and IRS and when?
- What has been the experience of early CRE investors in QOZs? What have been their investment strategies?
- Which real estate markets/geos are primed for investment in QOZs? What is the degree of competition for such opportunities?
- How comfortable are LPs with QOZ investing? What are the due diligence considerations? How to ascertain if a fund manager and/or operator has the sufficient experience?
- What are the capital raising/financing considerations for fund managers looking to invest in QOZs?
- Are you in a buy or sell mode? What is your impetus at this stage in the cycle?
- How are you getting comfortable with prices/deals when you buy/sell today?
- Where is demand for CRE now coming from? Foreign investors? How are you sourcing buyers?
- Who’s selling what and why? At what prices? What’s not selling, where and why?
- What distressed opportunities remain and where?
- To what degree have you loosened your acquisition criteria/underwriting to be more competitive for deals? Have/would you pay more than the asking price to secure the deal?
- To what degree have you taken less than your asking price to make a sale? What do you do if you can’t get your sales price?
- Is re-financing the new “sale” whereby owners are not getting their asking prices and refinance instead? If so, where does it go from here?
- Would/have you offered seller financing? If yes, in what situations?
- As a seller, how are you marketing your properties/attracting buyer interest?
- Taking the 1031 route….
- Finding fairly priced, high quality assets with good downturn protection: An oxymoron today?
- What are the biggest obstacles to buying/selling CRE today? How are you addressing these?
- What was your best/worst deal of 2018? What are your thoughts on the year ahead?
Hilary A Shalla
Directly after the acquisition/disposition roundtable CRE executives looking to buy/sell CRE have the opportunity to meet and exchange business cards in an informal setting geared towards making business connections.
After a highly successful launch last year, we are delighted to once again offer this roundtable. Our panel of senior female executives, representing different fields within the CRE industry, will discuss their routes to their current positions. They share the challenges they overcame along the way and will offer invaluable insights into how to get ahead in a highly competitive and male-dominated industry. The session is intended to be interactive and all participants are encouraged to be actively involved in the conversation. Come prepared to share experiences and insights that will benefit your colleagues in the audience.
Open to All Women Registrants (Pre-Registration Recommended.) To register and to submit topics for discussion, please email email@example.com Submitted topics will not be attributable.
- The debt market continues to be hot, but who are the winners/losers amid such high competition? Can you lend at tighter and tighter spreads? With banks starting to re-enter the CRE finance market, how does this impact other lenders? How will this all play out?
- What were the most popular debt plays in 2018? What is notably not getting financed? What to expect in 2019?
- Who are the new market entrants? What are they lending on? How much specialization is there?
- CRE CLOs: What’s the latest? Will others jump on this bandwagon? What impact are CRE CLOs having on the CRE finance market? Is there a risk of repeating the past?
- What factors are likely to have the greatest impact on the senior and sub-debt markets in 2019? How are lenders accounting for this? What does this in turn mean for borrowers?
- CMBS: What’s the latest on delinquencies? Issuances? Is competition for deals increasing lender risk appetite? What’s the 2019 outlook for this market?
- Will the regulatory environment continue its trend towards being more construction loan friendly? Will the HVCRE (High Volatility Commercial Real Estate Loans) changes make it a lot easier to get a construction loan from a bank? How will this impact non-bank lenders who have been filling the gap left by banks in construction lending.
- Subscription and short-term financing 2019 update
- Appreciation vs. defensive? Buy, sell or hold? What is your approach to CRE investing today? What factors are driving this?
- What property types are you betting on in this extended cycle? Are you specializing in certain assets? If so which ones and why? What are go/no-go assets and markets today?
- Has the current Administration/policy had a discernible impact on your CRE investment strategy/returns? If so, how?
- How do you achieve returns in a market where prices have been bid up?
- What risks are you willing to take in order to achieve your returns? How are you avoiding compounding risks in the event of a market shift?
- Where's the best risk-adjusted return investment in CRE right now? What returns are realistic?
- Deal volume: 2018 vs. 2019 (anticipated
- In summary: What are the biggest risks/opportunities in the year ahead for CRE investors?
Concurrent Sessions: Choose A, B or C
- As late cycle lending typically gets more conservative, how do terms/conditions compare amongst the different debt sources?
- What lies ahead in 2019? To what degree do you anticipate changes in your strategy? Deal terms? How are you hedging against rising interest rates?
- What type of deal is in your sweet spot? No-go assets/geos? Where are you seeing opportunities for the greatest returns?
- In a market abundant with lenders, how are you differentiating yourself? Specialization? How are you sourcing deals? Are you having difficulty deploying capital?
- How are you financing yourself: CLOs? Repo lines? A notes? What in turn does this mean for your borrowers in terms of risk?
- What is institutional investor appetite for debt funds? What types of institutional investor are placing capital in debt funds? How can on shore and off shore HNW and Institutional Investors invest more tax efficiently in Debt Funds? How does the fundraising environment compare to that of equity funds?
- What advice would you give a prospective debt fund looking to enter today’s market?
Since we introduced this session last year, have there been any notable developments? How are investors tapping into opportunities? Which asset classes/markets are more prone to change from industry disruptors than others? What are realistic impacts on NOI and NPV during the next 3-5 years? What technologies are the ones to watch? What new property types are in the pipeline? What other industry disruptors are on the horizon that CRE investors need to be watching?
- Millennials/Seniors: What innovation are we seeing in property (re)development to meet their changing needs for living, working, commerce, leisure and health-related real estate? And where? Is there a flight to the suburbs?
- Ride sharing and driverless cars: Are we seeing any discernable impact on retail, offices, residential communities? Where will parking lots still be needed? What are innovative re-uses of parking lots?
- Curtailed immigration: Which asset classes/markets are feeling the impact? How are funds addressing this in their strategies?
- Smart buildings, energy disruptors, AI & robotics: How and when?
- CRE Blockchain: The current/potential applications; Where does adoption currently stand? What are the challenges to overcome? When/how will Blockchain realistically impact the day to day workings of the CRE sector?
- What were the drivers behind your entry into the Non-Listed REIT/retail alt investment market? Why was the timing right?
- What is the capital raising environment like for retail alt investment products? How does it compare to the private equity fundraising environment?
- What scale is necessary to make launching such products financially viable? How much $ is needed for market entry? When can you expect to see a return?
- What is the strategy behind your particular offering? Why that wrapper? How are you differentiating yourself? Where and in what are you investing?
- Do you anticipate expanding into other retail alt product types? Why (and what)?
- Can we expect to see additional large institutional players enter this market? Are we close to capacity in terms of the number of product sponsors?
- How to tap into the independent broker/dealer (IBD) channel as a new product sponsor? RIAs? Wirehouses? What is the future of distribution within the retail alt market?
- Where do you see the retail alt investment market being in the next 2-5 years? What will be the make-up of the market in terms of stakeholder types on both the sponsor and distribution sides?
- How are you viewing the CRE market today? Any shifts in sentiment, and if so, based on what?
- To what degree are banks being more aggressive and why? How have standards been eased? What loans are they now more open to? Are still being flagged?
- What will be the drivers behind banks more fully entering the market? Will this happen any time soon?
- What is your target transaction volume for 2019? Are you looking to do more business than last year? What market/economic factors will have the biggest impact on this?
- How are you competing for deals? To what degree is the level of competition impacting your standards? Do you anticipate easing lending terms this year? If so, in what way?
- How are you approaching interest rate risk mitigation?
- What are you looking for in a borrower/deal? What are red flags for you today? What structures are necessary to have you involved? What equity must borrowers put in?
- How are you viewing construction loans? What are the must-haves for you to look at a deal? Where are pricing levels? What is the outlook for construction finance this year?
- Any changes in your view on mezzanine finance, preferred equity and crowdfunding in deals?
- Have the realities of launching a fund as an emerging manager changed in the past 12 months?
- Raising a debt vs. equity fund; Are debt funds relatively easier to launch today?
- Investment vehicle and fund structuring considerations
- Start-up capital: Sources and tips for securing
- Value proposition & differentiation: Carving out your investment niche
- How to fundraise without a track record
- LPs with an emerging manager program - from sourcing to getting your foot in the door to securing funds – do’s and don’ts
- How to get on the radar of real estate investment consultants?
- What non-traditional equity sources can new fund managers tap into?
- What fund admin duties do you outsource vs. do inhouse? What technology are you investing in to enhance internal systems/processes?
- Rookie mistakes and how to avoid them
Moses J. Kagan
Panelists address how CRE companies are working to implement tax reform and take advantage of the breaks it offers. In doing so we also pinpoint the pitfalls to avoid and how they directly impact CRE investors’ bottom-line. In addition, we also address what else is on the regulatory/tax horizon that CRE investors need to be watching.
Jenny Yang Inouye
- What is the current state of the mezz/bridge loan market? Any notable changes in 2018?
- With competition heating up against a slowing in deal flow, how will this market shake out?
- Have you loosened your risk/investment parameters to secure deals? What is still too risky?
- To what degree has a strong CLO market boosted bridge loan liquidity?
- What asset types/geos offer today’s best mezz/bridge loan investment opportunities?
- Are you specializing in certain asset types/markets? As yields shrink are you looking at other investments?
- Have you changed your underwriting to account for interest rate risk mitigation?
- What are typical deal structures/terms today? How are you sourcing and winning deals?
- How are institutional investors viewing bridge/mezzanine investments today? Is foreign investor interest increasing?
We ask CRE investors to analyze what key demographic and lifestyle trends mean for the risk-reward profiles of specialty/niche CRE assets. Which asset types are here for the long vs. short run? Where are opportunities prime for the picking vs. already too frothy? What is the level of LP interest and the availability of finance? How does the economics of these deals compare? Repurposing buildings for alternatives: Where are there synergies? What further innovation are we likely to see in new building types/uses? Ultimately, where is the smart money going?
- Opportunity Zone-focused investments
- Industrial and cold storage last mile logistics
- Co-living, micro apartments, manufactured housing, student housing, active living
- Creative office, co-working & telecommuting
- Medical office, urgent care, lab space, cannabis and senior living
- Hotel & experiential destinations
- Transit-orientated developments & infrastructure
- Data centers
- Farmland, timberland and other natural resources/real assets
- Fundraising: 2018 started out strong, where did it end up? What are notable recent trends, what can we expect in 2019 and what will be the drivers behind this?
- What is the value proposition that CRE offers LPs relative to other investments in today’s macro-economic climate?
- To what degree are opportunistic CRE investment strategies getting less traction amongst LPs currently? What is the fundraising environment for core/core +/value add/opportunistic funds?
- Where’s the flow of capital going? Debt vs. equity: What is LP appetite for the different CRE asset classes and how does this differ among the types of LP?
- Are LPs favoring more specialized investment strategies that are asset and/or geo-specific? What is gaining LP attention? How can fund managers tap into this?
- LPs that invest in non-brand funds: How to source; what are their key criteria; how to get on their radar?
- Are you seeing changes in LPs’ requirements at a fund/manager level at this stage in the cycle? If so, in what ways?
How much higher will property prices go? What factors may influence this? What asset types and in which markets are seeing a continued increase in prices vs. a leveling vs. a reversal in value? How to accurately value property in this unprecedented and unpredictable market? This interactive session, in which all participants are encouraged to take part, addresses approaches to CRE property valuation today.
- One year on, what are you doing to implement tax reform? What obstacles have you had to overcome and how? What are you still working on? Have you reaped any benefits yet?
- What will be your primary focus for 2019? Fundraising? Capital sourcing? What trends will you be watching closely this year and why?
- What do you see as the greatest opportunities in the CRE market currently? How are you pursuing them? The greatest threats? How will you be addressing them?
- What has been the impact of changing investor requirements and information needs? What tools/systems are you currently using to help streamline processes and improve reporting?
- What fund admin duties do you outsource vs. do inhouse? Are you looking to change this up any time soon, and if so why? What technology are you investing in to enhance internal systems/processes? Human capital?
- Cybersecurity: How does it apply to CRE funds and to the role of CFO/COO in particular? Have you been a victim of a cyber-attack? What steps are you taking to defend, enable and maintain your business from cyber threats?
- The tax department of the future: What will it look like and how far away are we?
- What factors have had the greatest impact on this market in the past year? How? And where are fundamentals for this sector as we enter 2019?
- Have you changed your Multi-Family investment strategies to account for the above? If so, how?
- What do you see as the greatest challenges/opportunities for this market sector this year?
- Are we overstating overbuild? What markets still offer opportunities within the different Multi-Family sub-types? Where are emerging neighborhoods?
- For the overbuilt markets, what concessions are you offering and for how much longer?
- What value-adds/amenities are you using? Are you adding retail components? Office? How are the ROIs looking?
- How are lenders viewing Multi-Family today? Any differences between sub-types? What does it take to get financing for new development?
- Are LPs pulling back?
- Where will this market be this time next year?
- How strong of a year was 2018 for you in your CRE investments? Any lessons learned?
- Are you revisiting your risk parameters in the current economic climate/late cycle stage?
- Any recent shifts in your CRE investment strategy/allocation?
- Where and in what are you focusing on? How are you viewing specialized investment strategies? Opportunity Zones? Affordable housing? Other?
- What will have the biggest impact on your CRE strategy and capital deployment this year?
- Is there a step up/a slowdown in allocating funds to any of the investment classes? Value Add? Opportunistic?
- CRE debt vs. equity? Which are you favoring currently?
- Are you investing/are you looking to invest directly in CRE deals? If so, what types of deal are you considering? If not, what’s your preferred investment model today? What’s driving this?
- Fund manager/JV partner: Any recent changes in selection criteria/processes/expectations?
- Are you allocating to non-brand name/smaller funds? How can they get on your radar? What advice can you give for their fundraising efforts?
- How are you viewing the increasing fund manager concentration? How does reducing their number of manager relationships impact the industry? Do the big funds revert to the mean and simply become industry indexes?
- What factors affecting the CRE market are you watching most closely in 2019?
- How strong are current industrial demand drivers? Assessing the manufacturing outlook, leasing activity, eCommerce levels and other critical trends
- Assessing the impacts of trade tariffs on the industrial market
- Where are prices? Any levelling off? Drops? Increases?
- Manufacturing vs. warehouse/distribution vs. Flex/R&D: Which offers the best investment opportunities today?
- Which niche plays are particularly hot currently – last mile cold storage?
- Coastal vs. interior markets: Which geos are currently overbuilt vs. underserved?
- What is on the tax/regulatory horizon that will impact industrial?
- To what degree is this market sector downturn-proof?
- What are your acquisition/new development due diligence processes for industrial CRE?
- What are the risk considerations specific to the different industrial sub-products? How best to manage supply chain risk?
- What to do with older, less functional but infill product? Can it be re-engineered to serve today’s needs? A retail/industrial hybrid model?
- What is the financing/fundraising climate like for industrial today? Which sub-sectors/markets are easier/harder to raise capital for than others? Who are the go-to sources for debt/equity?
- Have there been notable changes in key aspects of your recent JVs? Any innovation in structuring? How have you been taking advantages of new tax efficiencies?
- Deal-based vs. programmatic JVs and multi-property agreements
- What have been the most heavily negotiated issues?
- Stumbling blocks?
- Must-have documentation
- Partner/service provider selection
- Control issues, dispute resolution and the decision-making process
- If additional capital is needed….
- JVs with non-US partners
- Red flags and when to walk away
- “In hindsight”…. and key take-aways
Waterfalls, deal terms, preferred returns, control provisions and cost overruns will be the main topics under discussion as we address joint ventures from both the operator and equity provider perspective.
Jessica Chu, Associate, Allen Matkins
Jonathan Klein, Managing Director, Fortress Investment Group
Gregg Christiansen, Vice President, LaSalle Global Partner Solutions
Justin Smith, Managing Director, Long Wharf Capital
The Operating Partners:
Mukang Cho, CEO & Principal, Morning Calm Management
Scott Stafford, Principal, Strada Investment Group
- What is the current state of the retail market? Are we still in danger of a “Retail Apocalypse”?
- Online vs. bricks and mortar: Who are (will be) the winners and losers?
- Is now the time to invest (debt and/or equity)? To sell?
- Where are today’s opportunities in retail? Malls, lifestyle, grocery-anchored, power, community/strip, outlets, mixed-use, etc.
- What is LP appetite for the different classes of retail? What are today’s debt financing sources and at what terms?
- What has been the impact of Amazon’s acquisition of Whole Foods on the grocery business?
- Examining the clicks to bricks phenomenon
- What are dead retail centers being converted into with success?
- What are innovative adaptive reuses of excess retail parking lots?
- What’s the future of bricks and mortar retail? How will retail continue to transform (experiential/convenience/technology)? What do owner/operators need to do to stay relevant?
- How will technology continue to impact the supply chain (warehouse technology, AI, automation, driverless cars, etc.)? What do owner/operators now need to be considering?
- What’s the key to success in retail investment today? And in the next 3-5 years?
- Why has ‘affordable housing’ become the latest hot asset class? Why should private equity take notice?
- Affordable housing for rent vs. affordable housing for-sale
- Are there notable differences in the way different cities/regions are working with private equity on affordable housing?
- What locations are investors primarily targeting?
- What are the different financing models and how do they compare? Private financing vs. government subsidies vs public-private partnerships
- Making the #s work: Utilizing government subsidies with conventional financing
- How are lenders viewing affordable housing?
- Fundraising for affordable housing: What is the LP perspective?
- Integrating affordable housing into market rate projects
- Pitfalls and opportunities in mixed income and mixed-use projects
- Hold periods and other exit risks
- What is on the tax/regulatory/policy horizon that will have an impact on this sector and how?
Trending Topics: An Introduction
We are introducing a new session format to this year’s program. These sessions are intended to be more of an instructional overview on a trending topic, offering critical insights into the subject matter through the use of real-life examples. The sessions are anticipated to be approx. 30 minutes in length with 1-3 people leading each session.
This session demonstrates the increasingly significant use of big data within the CRE industry. From informing investment decisions to enhancing facilities management, CRE companies are starting to use big data in all aspects of their business. Through case study examples, this session examines the application of big data in the CRE industry, steps to getting started and what to expect next.
The array of CRE tech applications can be overwhelming. In this session we aim to categorize and explore CRE tech within the real estate industry. We examine the nice-to-haves vs. the must-haves across business functions/asset types, with an eye on ‘the next big thing’. We conclude with case study examples on the different ways in which CRE firms are successfully using tech across their business to achieve measurable results.
From buying and selling to renting and leasing to securing investors, this session demonstrates the increasingly significant use of social media in all aspects of the CRE industry. Through case study examples, this session examines how social media is being used, critical must-use apps, pitfalls to avoid, steps to getting started and potential future applications for CRE.
Concurrent Sessions: Choose A or B
The CRE industry continues in uncharted waters. With so many factors to equate as well as general unknowns, how to know where and in what to invest within the different investment classes?
Our panelists debate, using recent case study examples, when it makes sense to invest on a deal-by-deal basis vs. launch a fund against the backdrop of the current economic climate and late stage market cycle. Among the discussion points:
- Comparing the pros/cons of deal-by-deal vs. fund vs. hybrid investment models
- To what degree does your investment strategy/target asset class(es) factor into the decision?
- Upfront/ongoing costs vs. fees vs. time/effort involved vs. timeframes vs. return potential
- Tax considerations
- Deal-by-deal as a stepping stone vs. primary investment model
- How to know that progressing to launching a fund is the right move? What are the timing considerations?
- End game plan/exits
Panelists address what has worked for them when fundraising. They also outline how they successfully made the leap from their first/small fund to their next/a mid-sized investment vehicle.
- Why make the leap to a mid-sized investment vehicle/fund in today’s market? Why was the timing right?
- What investment vehicle did you opt for and why? How do investment vehicles compare in attracting capital? When might funds not be the best be route?
- What was your learning curve in upsizing? In hindsight, what would you have done differently?
- In what ways was launching your second investment vehicle easier than the first? What were unexpected obstacles? What advice would you give others considering doing the same?
- What small/mid-sized fund investment strategies are having a tough time raising capital? Which are attracting investors? Will debt funds continue to outperform in their fundraising?
- What is the anatomy of a successful fundraise today for smaller funds? What fundraising techniques have you found to be largely successful?
- What fundraising alternatives can small to mid-sized managers tap into? How do they compare? Fund-of-funds vs. funds that seed with anchor capital vs. placement agents vs. investment consultants
- What is your real estate allocation? Investment sweet spots? Return expectations today?
- What is your current appetite for risk? Are you optimistic about 2019 or pulling back on your CRE investments?
- Direct vs. JVs vs. investment in funds?
- Debt fund vs. equity?
- How much of a percent of the fund would you invest in? How much capital do you expect GPs to put in?
- Due diligence processes/red flags? What do you look for in a JV partner or a fund manager? What type of governance do you expect?
- Alignment of interest: What are you looking for?
- Sourcing new funds/managers: How can they get on your radar? Similarly, how can funds wade through the universe of High-Net-Worth investors to find the real ones?
- What factors affecting the CRE market are you watching most closely? Where do you see the greatest investment opportunities in the year ahead?
Concluding Featured Sessions
How are changes in how people are living, working and traveling impacting the development and use of commercial real estate? What’s driving these changes? What further changes can we expect, when and from which demographic groups? What do commercial real estate investors need to know and understand about such changes?
- What are the lasting effects of recent severe weather/climate change on the real estate industry both directly and indirectly? What has been the impact on property values? On construction costs and development? How to quantify this?
- What can we expect from the insurance industry as a response to recent hurricanes/wildfires? From government? What will this mean for CRE investors? To what degree will risk be re-priced?
- Have you had any impact on your properties/portfolios? If so, how are you addressing this?
- Real estate risk assessment: How has climate change affected your CRE due diligence processes?
- Are there now no-go CRE investment areas? Are you seeing reduced demand in certain regions as a result of recent severe weather/wildfires?
- Flat lands and coastal properties: What now for owners/developers in at-risk areas?
- How to deal with the effects of climate change on at-risk properties/regions and prepare for future threats? What steps must all owners/operators/developers need to be doing?
- Developing, building, and planning communities in high risk areas: What changes are needed?
Save sessions of interest, print for onsite use and insert to calendar for auto reminders.
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*Notices. Any notice given pursuant to these Terms shall be made by email or first class post, in the case of you, to the address provided on your registration form and, in the case of us, to the address posted on the website or otherwise notified to you in relation to any relevant service. Any such notice shall be deemed to have arrived if sent by post within three (3) days of posting and if sent by email at the time of transmission.
Euromoney Institutional Investor PLC (“Euromoney”, “we”, “us” or “our”) is an international business-information group covering asset management, price discovery, data and market intelligence, and banking and finance. The group also runs an extensive portfolio of events for the telecoms, financial and commodities markets.
For a full list of our brands and group companies, please click on this link. Euromoney and its group companies are committed to respecting the privacy of every person who visits, registers with or subscribes to our websites, publications, events and other products or services.
Euromoney is the primary data controller of personal data collected through this website or that we may collect in different ways as described in this Privacy Notice. If you are contacted by our other group companies, they will also be controllers of your personal data. This means that they are responsible for how your personal data is used, just as we are. You may contact any of these companies directly, or you can contact Euromoney by emailing firstname.lastname@example.org or writing to the Data Protection Officer at Euromoney Institutional Investor PLC, 8 Bouverie Street, London EC4Y 8AX, United Kingdom.
This Privacy Notice was updated on 23 May 2018
This Privacy Notice outlines the information we may collect about you in relation to your use of our products and services (“personal data”). It also explains the legal rights that you have in relation to your data and how you may exercise these rights.
Some of our group companies may collect and use personal data for different purposes; those companies have their own websites and privacy notices.
We will process your data for the following lawful purposes: with your consent; to fulfil our obligations to you; and where there is a legitimate interest to do so.
When possible, we rely on your consent to use your data for the purposes described in this Privacy Notice. We also process personal data to fulfil our contractual obligations to you, for example, when you register for any of our services, subscribe to a publication, sign-up for an event or purchase a product from us, we will need to process some of your personal data. This will also include details of the person/people responsible for payment (if different).
We may determine that processing your personal data serves both of our legitimate interests. This is the case in relation to many of our research, customer survey, sales, marketing and advertising activities described in this Privacy Notice. These activities allow us to better understand your requirements, which in turn enables us to provide you with a better service. We review the bases for our processing decisions carefully and you can object to these activities at any time (see the “Your Rights” section of this Privacy Notice).
Our primary goal in collecting personal data from you is to give you a relevant customised experience of our products and services.
Registration, Free Trials & Subscriptions
When you register with our website and/or sign up for a free trial of our products or services, we may ask you to provide your name, address, email address and telephone number, and details relevant to your occupation or employer.
If you subscribe to one of our products or services, we will also ask for payment details. Credit/debit card payments are processed using a third party supplier and we do not retain the credit card data (see the Third Party Sites of this Privacy Notice). Address details may be shared with third party service providers engaged by us for order fulfilment, delivery and payment collection. This personal data is used by us to complete subscription requests.
Events & Conferences
If you have registered for an event through a group website we may collect personal data including: name, job title, company, address, telephone number and email.
This information is necessary so that we can complete your registration for the event and provide you with relevant event materials.
We may also provide delegate details (e.g. name, email) to event sponsors who, subject to your consent, may contact you for their own advertising and marketing purposes.
Advertising & Marketing
We use the personal data you provide us and which we collect from you to inform you about similar products and services which we provide. We may send you marketing communications that are sponsored by our partners and which are targeted to your interests based on information you have provided us such as job title, employer and/or industry. If you have consented to receive information from other Euromoney group companies, we may share your personal data with these companies so that they can fulfil your request to receive marketing materials in accordance with your preferences. We will not share your personal data with any third parties for their own marketing purposes unless you have provided your consent.
Each of the Euromoney group companies that may contact you is a data controller in relation to the personal data that you have agreed to share with them. If you have any questions or concerns, you may contact the individual company, or us – using the contact details set out in the “Who We Are” section.
You can opt out from receiving such materials at any time.
The personal data we may use for advertising and marketing purposes includes your name, email address, job title, phone number, company name/employer, geo location, postal address and data collected using cookies and other similar technology (Please read our separate Cookies Policy to find out more about which cookies we use, how they work and how you can control your cookie options).
Marketing materials are sent electronically, by post and we may occasionally call you.
Online Targeted Advertising
We use targeted advertising on our websites to display advertisements that are relevant to what we believe are your interests. In order to deliver relevant advertisements, we use third parties to deliver cookies that collect information about your IP address and how you interact with our sites (e.g. browsing information, which articles you have read etc.). This data is used by the third parties to determine which advertisements may be of interest to you.
We may also share your personal data with third parties to deliver targeted advertising to you on other websites (e.g. Twitter Tailored Audiences or Facebook Custom Audiences). This could include your email address, cookie data, and information obtained from third parties. Third party cookies may also be used to enable us to target advertisements to you on other websites that you visit.
Lead Generation and Scoring
We occasionally use the services of trusted third parties in order to ensure that the personal data we use for advertising and marketing purposes is accurate and up-to-date. To do this, we transfer personal data of individual leads (such as name, email, job title, location and phone number) to these third parties who conduct research to verify the data – primarily against public information.
We also use algorithmic software technology to help us improve the quality and relevance of marketing activities. The personal data analysed by the software includes email address, phone number, job title, address, purchase history and account information. This allows us to provide meaningful offers that are relevant to your specific profile.
Surveys, Market Research & Customer Feedback
We want to understand the needs of our readers and customers. We may therefore use the information you provide us – including your name and contact details – to contact you to request your feedback, or to participate in our customer and market research.
Public forums, message boards and blogs
Some of the pages on our group websites may include message boards, blogs or other facilities for generating content from users. Any information that is disclosed in these areas becomes public information and you should always be careful when deciding to post any personal data. User generated content is also subject to our site Terms & Conditions.
Business or Asset Sale
If we sell a business or assets we may need to disclose your personal data to the prospective buyer of such business or assets.
If Euromoney, or any of our group companies is sold or sells our assets or is acquired by a third party, then personal data about our customers will be acquired by that third party. A transfer of your personal data in these circumstances would be necessary so that the services you have contracted for can still be delivered, or so that you can continue to enjoy the benefits of our free products and services. You will receive notice if a new controller assumes responsibility for your personal data.
Additional Third Party Disclosures
We may disclose your personal data to other third parties in the following situations:
- To third party partners who help us by providing services such as technology, marketing, advisory or other services. These third parties only receive encrypted data and may only process personal data to provide those services to us.
- Where we are required by law or regulation to do so. In each case we will seek, where practicable, to minimise the amount of data that is disclosed.
- If required to protect the rights and interests of other users and/or Euromoney and its affiliates (including our employees, agents and contractors), or as otherwise set out in our Terms & Conditions. This may include exchanging information with other companies and organisations for the purposes of fraud protection.
We may include small pixel tags (small image files) within the emails we send you in order to determine whether our emails are opened and/or whether the hyperlinks inside our emails are clicked through. We may also collect browser, location and the device used to engage with our email communications. This information allows us to better understand whether we are meeting our users’ needs and how we can improve our communications. No other information is collected. You can opt out of receiving our direct marketing emails either by following the instructions in each email, or by contacting us (see the “Who We Are” section of this Privacy Notice).
Some of the Euromoney group companies are based outside the European Economic Area (EEA). If you have consented to being contacted by our group companies, then the transfer of your personal data will be made according to the terms of an international data sharing agreement that contains obligations approved by European data protection regulators. Any of our group companies that receive your personal data will be co-controllers of that data, which means they may determine how they process your personal data – although they may only use it for the purposes for which it was shared, unless you are informed of new or additional processing activities.
We may also transfer personal data to third party service providers as described in this Privacy Notice which are located outside the EEA. Where we conduct these transfers, we take all steps necessary to ensure that your data is treated securely and in accordance with applicable privacy legislation, either by only sending your personal data to jurisdictions that provide an adequate degree of legal protection for your data or by imposing approved contractual terms on these third parties.
We have a data retention policy that ensures we don’t use or store your personal data for longer than necessary. We consider the following issues to determine retention periods:
- Guidance from the UK Information Commissioner or other regulatory agency, or industry best practice recommendations;
- The business rationale for collection and expiry of the purpose for which personal data was collected;
- Our ongoing ability to ensure the accuracy of the data; and
- Legal and regulatory requirements.
We may occasionally need to keep personal data for either shorter or longer periods than specified in our retention policy. In such circumstances, application of the retention period to the data will be temporarily suspended. The suspension of an applicable retention period will be carried out in a manner that respects the rights and interests of all persons concerned.
You can use our Preference Centre to select the topics that are of interest to you so that we can send you publications and information about our products and services that are especially relevant to you. You can also choose the channels we use to contact you (email, phone, post, etc.) and can also opt-out of receiving marketing communications.
You have certain rights in relation to your personal data which include the following:
Access & Portability
You may request access to any personal data of yours for which Euromoney is responsible as controller. Unless there are legal or regulatory reasons for not doing so, we will confirm whether we process any of your personal data and if we do, we will provide you with the following information: the purposes of the processing, the categories of personal data, any recipients of your personal data, the applicable retention period and the data source. Copies of your personal data will be made available to you in a structured, machine-readable format.
You may also request that we transfer the personal data that you have submitted to us, to another controller, where it is technically feasible for us to do so.
If you have consented to our processing of your personal data, or if we are processing your personal data in order to fulfil our contractual obligations to you, then you can submit a request that we transfer your personal data to another data controller.
Rectification, Restriction, Objection
You have the right to request that Euromoney rectify any errors in the personal data that we process. In some circumstances, you may also be able to ask for the erasure of personal data, and/or request that the processing of your personal data be restricted. You may also object to the processing of your personal data for sales or marketing purposes.
How to Exercise Your Rights
To exercise any of these rights, please contact us by post or email at the following addresses:
Euromoney Institutional Investor PLC
8 Bouverie Street
London, EC4Y 8AX
Web form: Complete Subject Data Request Form
We may need to check your identity prior to processing a request.
Euromoney will do our best to respond to any questions and address any of your concerns. You are also able to register any complaints regarding the processing of your personal data directly with the UK Information Commissioner.
Euromoney is committed to keeping your personal data secure and we will take appropriate technical and organisational measures to protect your personal data from loss, unauthorised use, disclosure or destruction. Although we do our best to protect your personal data, we cannot guarantee that any transmission of data is without risk. We have therefore implemented information security policies and rules, staff training on information security, and technical measures to ensure the integrity of data that we have under our control.
All our employees, contractors and data processors (i.e. those third parties that process personal data on our behalf) are required to keep such data confidential and not to use it for any purpose other than the performance of services we have requested.
Our site may contain links to other websites – including, for example, providers of payment processing services. Euromoney is not responsible for the privacy and data collection practices of third party sites and we therefore recommend that you review the privacy policies and terms of service of each site you visit.
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