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Fewer Private RE Funds Close in Q2

Compared to other asset classes, real estate fundraising has remained broadly level as "fund managers and investors seem to be taking a less bullish attitude," says Andrew Moylan at Preqin.

One Grand Central place Preqin’s US headquarters at One Grand Central Place in Midtown Manhattan. (Photo courtesy of Goldman Copeland)

NEW YORK CITY—Fundraising in the closed-end private real estate space remains active, but the playing field is considerably less crowded. Preqin said Monday that 45 funds reached their close in the second quarter, down from 64 in Q1 and 97 in Q4 2015 and representing the lowest quarterly total in seven years.

With at least $29 billion raised globally during Q2—better than the $22 billion raised in Q1, albeit down from the year-ago fundraising level of $36 billion—“The first half of 2017 has seen robust fundraising activity continue in the private real estate market,” says Andrew Moylan, head of real estate products for Preqin.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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