Last year'’s somewhat anemic fundraising volume received a shot in the arm in the fourth quarter with the closing of Brookfield’s $17 billion Brookfield Strategic Real Estate Partners IV, the firm’s largest fundraise ever and the second-largest private equity real estate fund to date, trailing only Blackstone’s Blackstone Real Estate Partners IX, which closed with $20.5 billion in 2019.

A total of 41 new investment funds were launched during fourth quarter 2022, the second highest number of fund launches in 2022. The new investment funds are seeking to raise an aggregate of approximately $32.8 billion.