Photo of Andrew Moylan with microphone “The scale of Billion Dollar Club investors’ involvement with the asset class affords them a lot of influence in the industry,” Moylan says. (Photo: F. Bukajlo/Image & Co.)

LONDON—Collectively, their numbers are small, while at the same time outsized. Preqin’s Billion Dollar Club comprises just 433 members globally with $1 billion or more allocated to private real estate, representing 13% of the total number of institutional investors in the asset class. However, as of May of this year, they account for 84% of the institutional capital allocated to the industry, and collectively hold $39 trillion in assets under management.