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Funds raise record sums over 2019

Alex Hayes 14 January 2020

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Funds raise record sums over 2019
WORLD Real estate funds secured a total of USD 151 bln in 2019, with 295 funds reaching a final close according to figures from investment consultancy Preqin.

This is an all-time high for annual capital raised, but marks a decline of 39 pct in the number of funds closed compared to 2018. Large funds dominated the market in 2019 with the average fund size in 2019 reaching a record high of USD 625 mln. This was largely driven by a number of giant closures with the three largest funds of 2019 collectively raising USD 43.5 bln, including the Blackstone Real Estate Partners IX, which secured USD 20.5 bln, to become the largest ever real estate fund.

“Real estate fundraising hit a new high in 2019, surpassing the high-water mark of USD 148 bln set in 2008. Concerns of a potential market slowdown have led investors to commit more capital to alternative assets, and real estate has benefited from a huge influx of capital in the past five years. But the steep decline in the number of funds closed shows how unevenly that capital is distributed – concentration among the largest fund managers is greater than ever, and the overall success of the market does not mean that first-time or smaller fund managers can expect to meet with easy success when they bring new vehicles to market in 2020,” comments Justin Hall, the head of real estate.

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