Investment managers continued to roll out a variety of new offerings during third quarter 2017. A total of 51 commingled funds were launched, seeking to raise approximately $20.5 billion. The number of new funds represents the highest total since first quarter 2011, when 73 new funds entered the market. And although the third quarter boasts more funds launched than the previous quarter, when only 39 new funds were launched, the dollar total is down from the second quarter, which posted an aggregate fundraising goal of $32.3 billion.

The new fund offerings are diversified by property type, geographic region and strategy. Twenty-two of the funds are targeting investments in the United States, with an additional fund focused on markets in both the United States and Canada. Funds focused on European property markets totaled 18, while five funds are targeting Asia Pacific and five funds have a global investment strategy.

The largest fund to launch during third quarter was C