A total of 23 new investment funds were launched during fourth quarter 2024, up from the previous two quarters total of 14 new funds launched, according to data tracked by Institutional Real Estate, Inc.’s IREI.Q database. The new investment funds are seeking to raise an aggregate of approximately $26.2 billion.

Border to Coast Pensions Partnership’s U.K. Real Estate Fund was the largest fund launched during fourth quarter 2024. The fund is seeking to raise approximately $3.7 billion in the next five years, supporting greater investment by Local Goverment Pension Schemes into the United Kingdom. It will also seek to target investment into alternative sectors including life sciences and affordable housing, while targeting a return of U.K. CPI plus 4 percent over rolling 10 year periods, net of fees and expenses. Properties at launch include offices, retail, care homes, student accommodation and industrial and warehouse facilities across 26 U.K. counties.

The second-