Some 300 investment managers are set to continue their hunt for capital on behalf of 400 real estate funds this year, according to the Indirex Global Database.
Some 300 investment managers are set to continue their hunt for capital on behalf of 400 real estate funds this year, according to the Indirex Global Database.
A preliminary review of Indirex's data to end-2012 highlighted that of the 908 funds making capital raising announcements over the last two years, 397 remain open to new investment (excluding those promoted as perpetually open); targeting over $150 bn (€113 bn).
Indirex said that the greater majority of these products (80%) intended to invest, or have begun investing their funds, into western markets where there is a lower perception of risk.
However, closer analysis revealed that 145 of all funds yet to announce a final close have European investment strategies, compared to only 97 focused on the North American markets. This disparity potentially reflects the earlier recovery in optimism for the US. The UK, standing outside of Europe, has 49 funds yet to be fully funded, equating to over £8bn.
For those investors interested in developing Asia Pacific or BRIC real estate exposure, there are some 70 funds offering opportunities to allocate money to these markets.
