Private equity real estate funds have raised a record $156 bn (€115 bn) of cash globally in 2013, surpassing the amount collected in the boom years, according to new research published by Indirex.
Private equity real estate funds have raised a record $156 bn (€115 bn) of cash globally in 2013, surpassing the amount collected in the boom years, according to new research published by Indirex.
The 'Top 3' fundraisers last year accounted for 20% of all cash raised. They were Lone Star, which raised $11.9 bn, and Brookfield, which closed its fund at $11.7 bn.
In Europe, Blackstone Real Estate Partners - Europe IV was the largest fund launched last year, raising a record-breaking $4 bn. Kildare Partners held a strong inaugural raising of nearly $2.2 bn, predominantly from North American investors to target Europe.
In terms of investment destinations, a quarter of the cash raised in 2013 was allocated to global funds which are increasingly focussing outside of the US.
Europe will attract 19% of the cash, the vast majority with a multi-country, Pan-European strategy, while the UK is targeted for a further 6% itself. This makes it by far the most targeted single country after the US (at 29%).
Debt funds experienced another record year representing about one fifth of the cash raised in 2013, up from 17% in 2011 and 11% in 2012.
