Following a record-breaking fourth quarter, fundraising activity took a breather during first quarter 2022. During the first three months of the year, 36 fund closings raised a total of $27.1 billion, according to Institutional Real Estate, Inc.’s IREI.Q database. Although fundraising volume was down substantially from the previous quarter’s total of $66.2 billion — the second-highest quarterly total on record — it was only slightly below the Q1/2021 total of $29.1 billion and on par with the 10-year first quarter average of $26.0 billion.
While there were eight megafunds — funds raising equity of $1 billion or more — that closed during the first quarter, their totals were offset by a large number of smaller funds that closed during the period. There were 13 funds that maxed out at $300 million or less.
The largest fund to close in Q1/2022 was GLP’s GLP Japan Development Partners IV, which raised $3.7 billion. The fund is reportedly the largest ever Japan
