Deja vu all over again: 33 new investment funds were launched during third quarter 2015
A total of 33 new investment funds were launched during third quarter 2015, the lowest number this year. This total mirrors the low number recorded in third quarter 2014 (31 funds). The aggregate fundraising targets for each of the two periods are also similar: fund sponsors sought $23.3 billion in third quarter 2014 and the third quarter 2015 total is $21.5 billion.
Despite two of the largest funds being in the global strategy, the Americas strategy dominated the geographic focus with a targeted fundraising volume of $9.2 billion. The largest of the funds launched in the Americas is Lionstone Investments’ Lionstone U.S. Value-Add Four. Launched in late August, the fund has already received a commitment of $100 million from the Teacher Retirement System of Texas. The fund will focus on investing in CBD office, debt, hotel, industrial, mortgage, multifamily, retail, senior housing and other property types.
Taking the number two spot is the Europe market focu