A total of 32 private-equity real estate funds recorded final closings during third quarter 2017, raising an aggregate total of $17.6 billion, according to IREI’s FundTracker database. This represents about $1.6 billion less than capital raised in third quarter 2016, and $8.9 billion less than 2015.

Investment managers continued to roll out a variety of new offerings during the third quarter 2017. A total of 51 commingled funds were launched, seeking to raise approximately $20.5 billion.