Publications

- September 1, 2020: Vol. 32, Number 8

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$40b raised by real estate funds closing in Q2 2020

by Larry Gray

The pandemic did not appear to have any ill effects on the real estate fundraising total registered during the second quarter. Instead, 28 funds reported final closings during the quarter, raising $40.2 billion, according to Institutional Real Estate, Inc.’s FundTracker database. This was the fourth-highest quarterly total on record since FundTracker started tracking data in 2007. In addition, the second quarter activity was a welcome step up from the first quarter’s slow start that recorded 22 fund closings and an aggregate fund raise of only $18.8 billion.

During the second quarter, 12 megafunds closed, raising $33.3 billion, which represents 83 percent of the total capital raised. The largest fund, Blackstone Real Estate Partners Europe VI, raised more than $10.6 billion, accounting for 26 percent of the quarterly total. The BREP Europe VI fundraising total makes it the largest ever Europe-focused real estate fund. The opportunistic fund was backed by 114 first-time an

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