A total of 31 new investment funds were launched during the second quarter 2020, bringing the midyear total to 73 new funds. As a group, the 73 funds launched are seeking to raise a fundraising target of $41 billion. Looking the second quarter by itself, the funds are seeking to raise approximately $20.1 billion, the lowest second quarter fundraising target since second quarter 2015 and the lowest number of funds launched since second quarter 2019.

Despite a dip in funds launched and in fundraising targets, the Asia Pacific strategy is setting its sights high with the largest fund launched during second quarter 2020. Allianz Real Estate of America and South Korea's National Pension Service established a $2.3 billion 50-50 coinvestment fund, Allianz Real Estate Asia-Pacific Core I. The closed-end fund will invest in markets such as China, Australia, Japan and Singapore, and target landmark office buildings, logistics centers and residential properties in major urban areas.