One Grand Central place Preqin’s US headquarters at One Grand Central Place in Midtown Manhattan. Three of the top 10 fund managers globally are also based based in New York. (Photo courtesy of Goldman Copeland)

NEW YORK CITY—With just 10 companies accounting for more than one-third of the aggregate $710 billion in capital raised over the past decade by the 100 largest real estate fund managers, it’s clear that the sector’s 800-lb. gorillas dominate. Moreover, says Preqin, the 20 largest funds closed in the past 10 years have all been raised by just five fund managers, and have secured close to $150 billion in institutional capital commitments collectively.