Number of new real estate investment funds drops again
During second quarter 2013, investment managers launched 35 new real estate funds, a drop of six funds from the 40 that began marketing in first quarter 2013, according to Institutional Real Estate FundTracker. It seems the rollercoaster ride of fund launchings is still a ride that investors and managers cannot get off. However, this low amount is not quite as drastic as the drop in new funds recorded in fourth quarter 2012 when only 29 funds entered the market.
Of the 34 funds announced, only four fit the global investment strategy category, but it includes the largest new fund: Lone Star Funds’ Lone Star Real Estate Fund III. Lone Star Real Estate Fund III, a closed-end opportunity fund launched in June 2013, is looking to raise US$6 billion and has a global market focus with a debt i