A total of 37 new investment funds were launched during first quarter 2017, the lowest number of funds since the launch of 33 funds in third quarter 2015. This lower number of funds launched trend is common in the second and third quarters but hasn’t happened in a first quarter since before 2010. The new funds launched during the first quarter are seeking an aggregate fundraising target of $16.2 billion, down more than $10 billion from fourth quarter’s aggregate of approximately $27.3 billion.

The Americas strategy kicks off 2018 in the lead for the geographic focus with a targeted fundraising volume of $8.6 billion (52.9 percent) despite having the second-largest funds launched in the first quarter 2018.

The largest fund launched in first quarter 2018 was Madison International Realty’s Madison International Real Estate Liquidity Fund VII, a closed-end opportunistic fund launched on Jan. 1. The New York investment manager is soliciting $1.5 billion of equity for