Search company, investor...

Predict your next investment

Angel Investor (Individual)

Investments

1

About Jeffrey Perlman

Headquarters Location

Want to inform investors similar to Jeffrey Perlman about your company?

Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.

Latest Jeffrey Perlman News

ESR Exloring Sale of Stake in SGX-Listed Cromwell European REIT

Mar 25, 2023

CEREIT’s portfolio includes Haagse Poort, an office property in the Hague Hong Kong-listed ESR aims to divest at least $1 billion in assets this year as it continues to focus on its fund management business, and those disposals could include its stake in Cromwell European REIT. In an earnings webcast on Wednesday, chairman Jeffrey Perlman said ESR was considering a potential sale of the company’s stake in Singapore-listed CEREIT. The industrial specialist inherited its slice of the $2.8 billion trust when it acquired ARA Asset Management in early 2022. “We’re evaluating our stake in Cromwell, as well as subscale REITs in our portfolio that we don’t feel we can grow to a meaningful size and scale,” Perlman said. “We feel this can recycle up to $750 million of capital to the group and we can use that capital to deliver fee-generating AUM and make our business easier to understand in the process.” His remarks came as Singapore-listed REITs of foreign assets continue to struggle, with Manulife US REIT last week confirming that it is currently in discussions with Mirae Asset Global Investments regarding a potential sale of shares in the trust of US office properties following a strategic review. Rethinking Europe As Europe’s property sector faces growing headwinds and rising bond yields dampen the appeal of S-REITs, some big-name investment managers are reconsidering their strategies. ESR chairman Jeffrey Perlman at Wednesday’s earnings call Late last year, US-based BlackRock sold 59,900 units of CEREIT , leaving the firm below the 5 percent threshold to be considered a substantial unitholder and therefore no longer subject to disclosing interest or change in interest in the trust’s voting shares. Over the past 12 months the trust’s share price has slid by more than 31 percent, despite rising 3.31 percent since the start of 2023. CEREIT’s manager has warned that it expects transaction activity to slow down in the near term and that the focus will remain on asset and capital recycling rather than acquisitions. Share prices of S-REITs have plunged over the past year amid a sharp rise in interest rates and soaring inflation. Rising yields on Singapore government securities have provided an appealing alternative to REITs for risk-averse investors. After ESR made $1.1 billion worth of divestments in China last year, Perlman said mainland assets will continue to make up a large portion of the properties to be sold this year to deep-pocketed local investors seeking logistics assets, in addition to offering potential portfolio assets for ESR’s much anticipated China-listed REIT. “We’re looking to further double down in areas where we believe we can create or invest in market leaders, which includes our data centre platform and our inaugural data centre fund, as well as our recent strategic investment in BW Industrial,” Perlman said, referring to the Vietnam-based warehouse developer. “We’re transforming and simplifying our business with a strong focus on ESR’s three core pillars of growth, namely new economy, alternatives and REITs.” Healthy Financials ESR on Wednesday reported a 10 percent increase in profit last year, propelled by growth in fee income and disposals of non-core assets. The group’s earnings before interest, tax, depreciation and amortisation jumped to $1.15 billion in 2022 from $1 billion a year earlier (for the company and its then soon-to-be-absorbed ARA unit), as growth in fee income from its fund management business boosted overall group revenue to $821 million — up 7.1 percent from 2021. ESR’s assets under management rose 11 percent year-on-year to an all-time high of $156 billion in 2022, after the company completed its $5.2 billion acquisition of ARA and notched fundraising successes that expanded its cash for deployment to a record $19.9 billion. Share this now

Jeffrey Perlman Investments

1 Investments

Jeffrey Perlman has made 1 investments. Their latest investment was in Price.com as part of their Seed VC on December 12, 2016.

CBI Logo

Jeffrey Perlman Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/27/2016

Seed VC

Price.com

$2M

Yes

1

Date

12/27/2016

Round

Seed VC

Company

Price.com

Amount

$2M

New?

Yes

Co-Investors

Sources

1

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.