CONTENTS

3           Real Estate Investing: Opportunities and Challenges

Heidi FALKENBACH, Aalto University, Finland

Martin HOESLI, University of Geneva, Switzerland - University of Aberdeen, United Kingdom and Kedge Business School, France

17        The Value of Private Equity for Institutional Investors

Thijs MARKWAT, Researcher at Robeco Asset Management, The Netherlands Roderick MOLENAAR, Researcher at Robeco Asset Management, The Netherlands

33        Unlisted Infrastructure: Biases in Appraisal-Based Valuations?

Robert J. BIANCHI, Griffith Business School, Griffith University, Brisbane, QLD, Australia

Michael E. DREW, Griffith Business School, Griffith University, Brisbane, QLD, Australia

Timothy J. WHITTAKER, EDHEC Infrastructure Institute, Singapore

49        Diversification at a Reasonable Price: Revisiting Alternative Diversification from an Institutional Investor’s Perspective

Serge DAROLLES, Université Paris-Dauphine, PSL Research University, CNRS, UMR 7088, DRM, Finance, Paris, France

Mathieu VAISSIÉ, Head of Research, Ginjer AM, Research Associate, EDHEC-Risk Institute, France