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15th September 2018 marked the 10th anniversary of the collapse of Lehman Brothers. Having seen the events from various angles, I thought that I would assemble various thoughts about what happened that week, the events that preceded it and the subsequent ramifications in a single place. Regular readers of our newsletter (to which you can subscribe here) will know that we often include some historical trivia, so we have a bit of historical trivia too.
Article in IPE Real Assets
Read John's article on UK funds after Lehman here.
Reflections on the collapse
The crisis in the UK predated the collapse of Lehman by a year. During the height of the boom from 2004 and the 2007 liquidity crisis, I led the PwC real estate practice in the UK. In the summer of 2008, I took over leadership of the PwC real estate practice for EMEA and India, just time for the collapse of Lehman to turn a local liquidity crisis into a global one. Read my reflections here.
The credit crunch a decade ago (a year ago)
Last year, I wrote a blog to mark the tenth anniversary of the UK credit crunch. You can read it here.
Unlisted funds, lessons from the crisis
My report for the Association of Real Estate Funds (AREF) , "Unlisted funds - lessons from the crisis", was published in 2012. This looked at the events of 2007 and 2008, but also what happened to unlisted funds before and after the crisis. I wrote an extensive blog in January 2016 looking at what had changed since 2012. You can find the report and additional materials here.
Ammonites, extinction events and the real estate investment management industry
The paper "Ammonites, extinction events and the real estate funds industry" was originally produced in the autumn of 2010 as a write-up of my presentation at that year’s PwC European Real Estate Client conference. The conference presentation and the paper reflected upon the regulatory and other pressures facing the real estate industry in the aftermath of the Lehman collapse, as well as providing some predictions as to how this might unfold over the two years to the autumn of 2012. It has been updated twice since then. You can read it here.
Lehman, Liverpool, cotton and slaves, some historical trivia
Read some historical trivia here