Q3 2017 sees most fund launches in more than six years
Investment managers continued to roll out a variety of new offerings during third quarter 2017, according to Institutional Real Estate, Inc’s FundTracker database. A total of 51 commingled funds were launched, seeking to raise approximately US$20.5 billion. The number of new funds represents the highest total since first quarter 2011, when 73 new funds entered the market. And although the third quarter boasted more funds launched than the previous quarter, when only 39 new funds were launched, the dollar total is down from second quarter 2017, which posted an aggregate fundraising goal of US$32.3 billion.
The new fund offerings are diversified by property type, geographic region and strategy. Twenty-two of the funds are targeting investments in the United States, with an additional fund focused on markets in the United States and Canada. Funds focused on European property markets totalled 18, while five funds are targeting Asia Pacific, and five funds have a global investme