Private real estate fundraising numbers are in for second quarter 2018. They’re lower than those for the second quarters of 2016 and 2017, but when added to first quarter 2018, they bring the first-half total well ahead of the past two years.

Second quarter 2018 saw 35 private equity real estate funds record final closings, raising an aggregate total of US$27.0 billion, according to Institutional Real Estate, Inc’s FundTracker database. This represents about US$6.3 billion less than the amount raised in second quarter 2017. But when looking at first half numbers, we see 2018 is still very much holding its own. First half 2016 saw US$55.7 billion raised, while first half 2017 came in at US$51.2 billion. Thanks to a very strong first quarter, first half 2018 recorded US$61.5 billion raised, in aggregate.

So far, FundTracker has seen 69 funds hold a final closing in first half 2018. This compares with 79 funds closing in the first six months of 2016, and 77 funds clos