Difficult time in the cycle for Europe

Author: Majid Mangalji

Categories: Europe, Financial, Investment, North America
Tags: development, market improvement
Majid Mangalji: "You want to buy at the right point in the cycle, the right kind of asset, from the right seller, and generally we have been buying assets when there is a fair amount of distress and then we try to operate and create value, operating right, doing financial engineering to get the right capital structure and create maximum value for our group and our investors. Every place is in a different point in the cycle, for example the United States is ahead of the curve, we are seeing more recovery there.  And even Europe, it’s very difficult to paint Europe with one brush, Europe has got so many different markets.  And what we are finding that in the northern European, in the developed markets like Germany and France, they are not suffering too badly.  The UK has had a fair amount of turmoil and the many assets in administration and going through difficulties, so there is some good opportunities there.  But the southern part of Europe, those markets are still quite challenged, so Portugal, Spain, Italy, Greece, I think are going through a very difficult time."
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