Property real estate funds raised $7.5 bn (just under EUR 6 bn) in global capital commitments in May, according to figures published by Indirex, an online community for non-listed real estate funds. Although 27 new fund-raising announcements were made, only 12 reported equity volumes raised.

Property real estate funds raised $7.5 bn (just under EUR 6 bn) in global capital commitments in May, according to figures published by Indirex, an online community for non-listed real estate funds. Although 27 new fund-raising announcements were made, only 12 reported equity volumes raised.

The majority of the commitments were in the US (55%), with the pan-global TIAA-CREF Global Agriculture Fund raising $2 bn to invest in agricultural land.

Indirex reported that capital was committed to a major pan-global fund (27%) and a number of pan-European funds (19%). Stockholm-based private equity real estate firm Niam completed the largest raising in Europe by closing its Nordic V Fund with commitments totalling EUR 719 mln.

In all a dozen new fund raisings were announced across Continental Europe and the UK, with a notable focus on debt. There were seven UK fund-raising announcements but no equity-raising volumes were reported.