Welcome to PERE's second-ever 100 Most Influential ranking of individuals we consider to have made the biggest marks on institutional private real estate capital markets in the past 10 years.
The PERE 100 Most Influential is decided on the basis that its constituents are considered to have had the greatest influence on the direction of real estate capital markets over 2016-25, the decade following publication of the first PERE 100 Most Influential list in 2015, part of the special publication dedicated to PERE's first decade.
In choosing the 100 individuals, the PERE editorial team sought first to consider the events that shaped the sector over the time period. Capital markets were plateauing at the top of the cycle at the start of PERE's second decade, with lofty asset valuations benefiting from historically low interest rates. Regarding the asset class as a suitable fixed-income proxy, investors allocated generously to real estate
and fundraising aggregates grew annually.
In 2019 came the equally anticipated and dreaded 'black swan' event, materializing in the form of a global pandemic that accelerated real estate use trends and polarized appetite for different property types. Three years later, soaring inflation brought spiking interest rates, effectively paralyzing the sector. This list of influencers crystallizes just as the markets are demonstrating green shoots, but amid
a backdrop of extreme geopolitical tension, even conflict.
PERE's editorial team considered these episodes when making their selections. Expect to read about individuals who played an outsized part in influencing the markets as each chapter gave way to the next, or who reacted most impactfully to events. Included are individuals charged with policy, fundraising, investment, research, brokering, recruitment, innovation, sustainability and DEI.
The ranking should be viewed through a neutral lens. For example, the interest rate setters made outsized contributions to the direction of the market, but arguably their influence is not considered positive. Note these individuals are the farthest afield we were willing to stretch the criteria for inclusion, in case you were wondering where US President Donald Trump and other world leaders are.
The notion of influence means different things to different people. PERE does not expect the 100 Most Influential to be received with unequivocal acceptance or even warmly in all quarters; disappointment is also inevitable. Debates raged internally about who should be included and where on the ranking. We expect the same debates to rage outside our walls, too. Unsurprisingly, we found it extraordinarily
complicated to compile just 100 names. The list changed multiple times before a final cohort was approved.
But after all that deliberation, we finally landed on a century of individuals we are convinced have been the principal movers and shakers in what, for many real estate executives, has been the most tumultuous decade in their professional lives.
Bill Ferguson
Co-chairman, CEO, Ferguson Partners
Ferguson's eponymous firm has emerged as a go-to for real estate asset managers looking for new executives. Through cycles to today, Ferguson has helped expand into new markets and back-fill high-level vacancies, giving him insight into trends and the health of the market before they can be seen widely.
For a PDF of PERE's 100 Most Influential, visit here.