In today’s low-yield environment, real estate is in high demand, delivering steady income and solid returns, while attracting lots of capital to the asset class. Investors have benefitted and so have real estate investment managers, who have seen assets under management increase significantly, fuelled by expanding capital flows and healthy asset appreciation.

In fact, a number of managers enjoyed double-digit growth in AUM during the past year, according to Global Investment Managers 2016, an annual survey and report produced by Property Funds Research and Institutional Real Estate, Inc. The industry’s two largest investment managers, Brookfield Asset Management, with US$149.8 billion in AUM as at year-end 2015, and The Blackstone Group, with US$147.6 billion in AUM, recorded growth of 19 percent and 22 percent, respectively, based on figures reported in the prior year’s survey.

The two behemoths continue to outpace others in the industry, with a growing