First-half fundraising dominated by 12 mega-funds
Institutional capital continues to favour large real estate funds sponsored by proven investment managers. Funds that closed during the first half of 2014 totalled $39.4 billion (€30.0 billion), according to the Institutional Real Estate FundTracker database. Of that first-half total, 12 mega-funds ($1 billion or more) accounted for 67 percent — $26.6 billion — of the equity raised.
The largest fund to close during the first half of the year was The Blackstone Group’s Blackstone Real Estate Partners Europe IV, which topped $7 billion (€5.3 billion). Runners-up included PIMCO