- October 1, 2014: Vol. 6, Number 9

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Investors go big with mega-funds in H1 2014 fundraising

by Larry Gray

Institutional capital continues to favour large real estate funds sponsored by proven investment managers. Funds that closed during the first half of 2014 totalled US$39.4 billion, according to the Institutional Real Estate FundTracker database. Of that first-half total, 12 mega-funds (US$1 billion plus) accounted for 67 percent — US$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 raised US$7 billion. Runners-up included PIMCO’s Bank Recapitalization and Value Opportunities Fund II (US$5.5 billion), GI Partners’ GI Partners Fund IV (US$2 billion) and Kildare Partners

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