Hedge Fund Titan Marshall Warns Real Estate Is Next Shoe to Drop
- Paul Marshall says a fairly severe credit crunch could follow
- His firm’s Eureka and Opportunities funds rose in March
A vacant retail store in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Commercial real estate could face the next crisis of confidence after last month’s jitters in the banking system, according to Paul Marshall, who leads one of the world’s biggest hedge fund firms.
While the collapse of Silicon Valley Bank was swiftly contained, it has pushed lenders into “self preservation mode,” the Marshall Wace founder said in a letter to investors this month, a copy of which was seen by Bloomberg.