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Fund managers’ biggest adversary: time

The London office complex Chiswick Park, which was sold at a discount by a closed fund during the last downturn.
The London office complex Chiswick Park, which was sold at a discount by a closed fund during the last downturn.

From the September issue: When news broke earlier this summer that the Blackstone Group was planning to take its rental-home company, Invitation Homes, public by the first half of 2017, it came as little surprise.

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The private equity giant bought up 50,000 rental homes nationwide in the aftermath of the most recent financial crisis, with the intention of flipping them for a profit — either by selling them individually, unloading them in bulk or taking the portfolio public. [more]

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