- December 1, 2014: Vol. 26, Number 11

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Third quarter fundraising eclipses $20b

by Denise DeChaine

Fundraisers had a hotter hand during third quarter than the second quarter — but not as hot as the first quarter. Such is the ups and downs of fundraising in 2014.

In total, real estate investment funds raised a vigorous $20.5 billion during the third quarter. That compares favorably to the $17.1 billion raised during the second quarter, though it fell short of the $23.7 billion raise during first quarter 2014.

The largest fund to close in third quarter 2014 was Lone Star Fund IX, which brought in $7.2 billion in capital by its July 2014 final close. The fund targets include single-family residential debt and corporate and consumer debt products in the Japan, the United States and Western Europe.

In addition, Partners Group closed the largest real estate secondaries fund, Partners Group Real Estate Secondary 2013, which raised $1.95 billion to acquire real estate portfolios, such as single assets and joint venture portfolios, on the secondary market. TIAA-CREF

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