Operational excellence: How private capital wins in 2026

Speakers: Nick Mumby, partner, Gowling WLG Chair: Tim Burke, editor, Estates Gazette

Real estate is increasingly an operational business rather than a passive investment play. As funding conditions stabilise and sentiment improves, private capital is gravitating toward sectors where hands-on operating capability can drive performance and create value beyond traditional financial engineering.

This episode explores how investors and operators are navigating today’s sustained capital costs defined by viability pressures, constraints and persistent planning friction. With living sectors continuing to attract capital and overseas investors weighing regulatory and macroeconomic risks, the ability to value-add and execute rather than just allocate is emerging as the key differentiator.

If returns in 2026 are shaped by delivery, execution and operational discipline, where is private capital placing its bets and what does the next phase of operational real estate activity look like?