top 100 2019 global overview

The global real estate investment management industry has more than doubled in size over the past five years, from €1.62trn in 2014 to €3.6trn today. The sector continues to be swelled by growing allocations from institutional investors and rising asset prices.

The Top 10 continues to shuffle, although the €177bn Brookfield Asset Management has retained the top spot throughout, almost doubling the €92.1bn in real estate assets it managed in 2014. During that period, Blackstone has also retained third place, but PGIM has replaced CBRE Global Investors as the second-largest real estate investment manager.

CapitaLand is the first company with headquarters in Asia-Pacific to make it onto the top 10. The Singapore-based company has jumped up the ranking after acquiring Ascendas-Singbridge.

The top 10 companies continue to represent close to one-third of the total AUM of the Top 100 combined, showing how dominant a small number of the largest firms are.

top 10 real estate investment managers

 

annual growth in assets under management

Brookfield Asset Management has retained the top position for the seventh year in a row. The Toronto-based investment manager leads a mini-league of companies with over €100bn in assets under management.

Last year, Bentall Kennedy and GreenOak were ranked 39th and 83rd, respectively. Following their merger at the end of 2018, the new entity BentallGreenOak is the 29th largest real estate investment management company, according to the survey.

The global logistics specialist Prologis jumped up from 30 in 2018 to 23 in this year’s ranking. The latest numbers do not include its recent acquisition of Liberty Property Trust for $12.6bn (€11.3bn). Had this been completed before the end of June, Prologis would have come in at 19th, above Credit Suisse Asset Management.

 

Full Top 100 ranking

Top 100 Real Estate Investment Managers 2019
  CompanyTotal Real Estate AUM 30/06/19 (€m)
1 Brookfield Asset Management 176,918
2 The Blackstone Group 135,017
3 PGIM 122,459
4 Nuveen Real Estate 114,244
5 MetLife Investment Management 109,188
6 Hines 104,263 (1)
7 UBS Asset Management 86,029
8 CBRE Global Investors 85,000
9 CapitaLand 83,778
10 J.P. Morgan Asset Management 83,163
11 AXA IM - Real Assets 81,257
12 Principal Real Estate Investors 72,798
13 Invesco Real Estate 70,507
14 AEW 68,226
15 Allianz Real Estate 67,120
16 LaSalle Investment Management 60,980 (2)
17 Swiss Life Asset Managers 60,500
18 DWS 60,327
19 Credit Suisse Asset Management 53,274
20 Starwood Capital Group 51,633 (2)
- 21 New York Life Real Estate Investors 50,756
22 Morgan Stanley Investment Management 49,549
23 Prologis 47,598
24 Aberdeen Standard Investments 47,510
25 DekaBank Deutsche Girozentrale/Deka Immobilien 45,935 (1)
26 Clarion Partners 45,454
27 APG Asset Management 45,295
28 Tishman Speyer 44,054 (1)
- 29 BentallGreenOak 42,127
30 Patrizia 41,835
31 Ivanhoé Cambridge 41,620 (1)
32 Barings 41,232
33 Oxford Properties Group 40,760 (3)
34 Union Investment Real Estate 39,147
35 Heitman 38,669
36 GLP 38,428
37 Colony Capital 37,797
38 M&G Investments 36,500
39 Mapletree Investments 35,629
40 Aviva Investors 34,986
41 Cohen & Steers Capital Management 34,920
42 Amundi Asset Management 33,250
43 Greystar Real Estate Partners 31,492
44 Generali Real Estate 30,700
45 BNP Paribas Real Estate 30,185 (1)
46 ARA Asset Management 29,088
47 Goodman 28,509
48 BlackRock 27,053
49 Legal & General IM Real Assets 26,703
50 Ares Management 26,491
51 Syntrus Achmea Real Estate & Finance 23,300
52 Corestate Capital Group 21,600
53 Lendlease 21,472
54 Charter Hall 21,459 (3)
55 Apollo Global Management 21,096
56 La Française 20,665
57 Gaw Capital Partners 20,310
58 IGIS Asset Management 20,086
59 Dexus 19,624
60 Savills Investment Management 18,900
- 61 Harrison Street Real Estate Capital 18,868
62 Commerz Real 18,544
- 63 Great-West LifeCo 18,507
64 Schroder Real Estate Investment Management 18,097
65 AMP Capital 18,081
- 66 ESR 17,983 (4)
  67 USAA Real Estate 17,843
- 68 Primonial REIM 17,200 (5)
- 69 Macquarie Infrastructure & Real Assets (MIRA) 16,936 (2)
- 70 Keppel Capital Holdings 15,908 (1)
71 Rockpoint Group 15,552
72 The GPT Group 15,308
73 Columbia Threadneedle Investments 15,196
74 Manulife Asset Management 14,972
- 75 Bridge Investment Group 14,325
76 QIC 13,493
77 MEAG 13,430
- 78 Samsung SRA Asset Management 13,123
79 Partners Group 12,772
80 Bouwinvest Real Estate Investors 12,111
81 ISPT 10,913
82 Tristan Capital Partners 10,700
83 KBS 10,213
84 DTZ Investors 9,935
85 DRA Advisors 9,799
86 MN 9,704
87 Warburg-HIH Invest Real Estate 9,664 (6)
88 Quadrant Real Estate Advisors 9,650
89 TA Realty 9,511
- 90 Catella 9,000
91 Jamestown 8,948
- 92 Crow Holdings Capital 8,878
93 CenterSquare Investment Management 8,867
94 Beacon Capital Partners 8,813
95 American Realty Advisors 8,674
96 M7 Real Estate 8,466
97 Northern Trust Asset Management 8,263
98 Oaktree Capital Management 8,191
99 Investa Property Group 8,022
100 Vesteda 7,898
       
    Footnotes:  
       
    (1) As at 31/12/18  
    (2) As at 31/03/19  
    (3) As at 31/07/19  
    (4) As at 31/10/19  
    (5) As at 01/01/19  
    (6) As at 31/08/19  

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