Q1/2015 fundraising volume highest since Q3/2008
Atotal of 24 real estate private equity funds recorded final closings during first quarter 2015, according to Institutional Real Estate FundTracker. The quarterly volume of US$31.6 billion ranks as the highest first-quarter total since FundTracker began collecting data in 2007, and it is the highest amount raised since third quarter 2008 (US$36.6 billion). The funds have an average fund size of US$1.32 billion.
Compared with fundraising volumes of the past few years, this quarterly total was more than one-third of 2014’s 12-month total (US$91.7 billion), 40 percent of the total for 2013 (US$79.2 billion) and more than half of the fundraising volume for 2012 (US$60.7 billion).
One of the main reasons for this spike in fundraising was the closing of The Blackstone Group’s Blackstone Real Estate Partners VIII. The opportunistic fund raised a total of US$15.8 billion, and the March closing put BREP VIII into the record bo