30 funds reach final close, raise US$26.5 billion
During the first quarter of 2021, 30 fund closings were recorded, representing an aggregate dollar volume of US$26.5 billion, according to Institutional Real Estate FundTracker. This is the highest amount of fund closings since the second quarter of 2020’s 37 fund closings and the highest fundraising volume since the second quarter of 2020’s fundraise of US$48.3 billion. It seems investors were waiting to feel out numbers for the fourth quarter of 2020 to see how things fared, but it looks to be on the upswing, for now.
First quarter closings are always a bit rocky. For example, when you look back at the first quarter of 2020’s pre-pandemic fundraising volume, it seems a bit low at US$20.1 billion. When you look at the first quarter of 2019’s record-breaking quarterly fundraise of US$64.9 billion, it’s way above the mark. The first quarter of 2021 is more comparable to the first quarter of 2018’s fundraising volume of US$31.3 billion, but glance at the fi