European private equity RE funds raise EUR 13.8 bn in 2007

European private equity real estate funds raised a total of $20.6 bn (EUR 13.8 bn ) in 2007, according to the latest figures from Preqin Real Estate Online.

A total of 126 private equity RE funds worldwide have so far raised an aggregate of $79 bn (EUR 49.2 bn) in 2007. Additional figures are expected to take the full figure for 2007 close to or over the $85 bn raised in 2006. The global figure also includes the $36.5 bn raised by US private equity RE funds and the $21.6 bn raised by funds in Asia and the rest of the world.

Most of the funding was raised in the first half of 2007, with 73 funds raising a total of $44.2 bn. The amount raised in the second half fell, with 53 funds collecting a total of $34.5 bn.

Preqin said the signs for 2008 are very encouraging, and it could be another strong year for fundraising. A total of 266 funds are looking to raise an aggregate $123 bn, with 72 of these funds having already reached interim closes and targeting a total of $47 bn.