US fund managers are the biggest players in the global property fund management industry, accounting for 70% of the top 10 worldwide, according to a new survey by INREV in cooperation with its Asian counterpart ANREV. Three US firms dominate the top 5 led by CBRE Global Investors, Brookfield Asset Management and the Blackstone Group.
US fund managers are the biggest players in the global property fund management industry, accounting for 70% of the top 10 worldwide, according to a new survey by INREV in cooperation with its Asian counterpart ANREV. Three US firms dominate the top 5 led by CBRE Global Investors, Brookfield Asset Management and the Blackstone Group.
The top 10 includes only three European players - Swiss fund manager UBS Global Asset Management, Germany's RREEF Real Estate and Paris-based AXA Real Estate in 4th, 5th and 8th position respectively. Together the top 10 account for around EUR 489 bn in assets under management, or 38.7% of the total.
CBRE Global Investors leads with EUR 72.7 bn of real estate AUM following its takeover of ING Real Estate Investment Management (REIM) in 2011.
The ranking is based on a survey of 122 fund managers with total real estate AUM of EUR 1.26 tln. Together they manage a total of 2,612 direct real estate vehicles comprising non-listed real estate funds, direct separate accounts and joint ventures and listed funds investing directly into real estate. INREV and ANREV are the organisations for the non-listed real estate sector in Europe and Asia.
