A total of 42 new investment funds were launched during fourth quarter 2018, bringing the year-end total to 147 new funds launched in 2018. This number is down from 2017, which introduced 176 new funds. This is the largest number of funds launched in 2018 despite fourth quarter year-end closed funds being the lowest it has been since 2008. The new funds launched during fourth quarter are seeking an aggregate fundraising target of $56.4 billion, up from fourth quarter 2017’s total of the same amount of funds launched seeking $27.3 billion.
The reason this total is significantly larger is due to the launch of Blackstone’s Blackstone Real Estate Partners IX, a closed-end opportunistic funds launched in November 2018. The fund is nearing its $20 billion target for its largest real estate fund ever — as well as the industry’s largest fund ever. Blackstone plans to close the fund in the first quarter of this year. The fund’s strategy will be similar to the firm’s prior