Identifying the next growth distribution model
Real estate & private markets — Market scan
After two decades of success with a closed-end real-estate fund, the client wanted to understand how product structures, distribution models and technology were reshaping private markets across Europe — and what those changes could mean for the future of the business.
The challenge.
The client had built a successful closed-end real-estate fund for high-net-worth investors, distributed through banks and wealth advisers in Germany.
The concern was that the model that had supported that success was becoming less suited to a changing market. The client wanted a Europe-wide view of emerging product structures, new routes to investors and technology-enabled distribution models across real estate, alternatives and private markets.
The objective was not simply to map the market, but to identify which models could credibly provide a basis for the firm’s next phase of development.
What we did.
We carried out the work in two stages. We first built a broad market view through desk research and interviews with industry experts, platform providers and relevant fintech companies. This was followed by a deeper review of the legal, regulatory and compliance landscape to understand which models were genuinely transferable and scalable.
We then assessed the different models against factors including commercial traction, ownership and economics, customer experience, distribution approach, product design, organisational requirements, KYC/AML and legal set-up.
That allowed us to move from a wide universe of market developments to a smaller set of strategically relevant options for the client.
What changed.
The work gave the client a structured view of how its market was evolving and the strategic choices available beyond its established product and distribution model.
From that analysis, we developed three distinct options for the future development of the firm, setting out the rationale, implications and requirements of each. These were presented to the board as a basis for evaluating the next stage of the business.
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