30 funds reach final close in Q1 2021, raising $26.5b
During first quarter 2021, the final closing of 30 real estate investment funds was recorded, representing an aggregate dollar volume of $26.5 billion. This is the highest number of fund closings since second quarter 2020’s 37 fund closings and the highest fundraising volume since second quarter 2020’s fundraise of $48.3 billion. It seems investors were waiting to feel out fourth quarter 2020’s numbers to see how things fared, but real estate capital-raising looks to be on the upswing, for now.
First quarter closings are always a bit rocky. For example, when you look back at first quarter 2020’s pre-pandemic fundraising volume, it seems a bit low at $20.1 billion. When you look at first quarter 2019’s record-breaking quarterly fundraise of $64.9 billion, it’s way above the mark. First quarter 2021 is more comparable to first quarter 2018’s fundraising volume of $31.3 billion, but glance at first quarter 2017’s fundraising volume of $18.8 billion, and it looks