In March 2019, SS&C sent two teams to Cannes for the largest European real estate industry event of the year, le Marché International des Professionnels de l’IMmobilier, or MIPIM. This was the 30th consecutive year for MIPIM, which hosted nearly 30,000 attendees and exhibitors at the four-day event. MIPIM coincided with the second anniversary of the creation of SS&C’s dedicated Real Assets Fund Services group, which was spun out from the Private Equity team in 2017.
SS&C sent teams from both Real Assets Fund Services and the newly acquired Intralinks. Both teams have attended the event in the last few years, as the event has evolved to include a broader representation of businesses along the real estate value chain. This year’s goal for both teams was to increase awareness of SS&C and Intralinks in the real estate industry.
The Real Assets Fund Services team of five hosted a successful dinner for prospective clients and industry partners, cementing relationships that will grow our Real Assets Fund Administration business and generate interest in our real estate fund services. The Intralinks team of eight exhibited in the main conference center, providing demonstrations of the Intralinks data room software. They received a lot of interest as the rising data room provider for real estate transactions.
The official MIPIM theme this year was “Engaging the Future,” with a focus on the changes in what we expect from property. Some of the issues for consideration include the environmental impact of a building and how we use it, and greater demand for shared living and better multi-generational facilities. The successful cities and developments of the future will be those that recognize how our lives are changing. There was also a heavy bias towards “Proptech” and the benefits it will bring to the world of real estate. As always, data is key and those who can harness data will be successful.
Although not on the official conference agenda, every conversation mentioned Brexit at some point. Those involved in refinancing transactions had seen little impact on their business. However, for those planning new developments, the B-word was the cause of delays for some projects until there was more certainty. The overall mood was one of optimism, with anticipated relief that the March 31 deadline was nearly upon us and certainty would be restored. That optimism turned out to be premature.
The beautiful weather throughout the event allowed for the socializing that is familiar to those who regularly attend MIPIM. Many attendees networked and held meetings along the Promenade de la Croisette. Roll on 2020!
