Total available capital for investment globally in 2014 grew by 4% to over the six month reaching a new record level of USD354bn. At 7%, Europe has seen the biggest increase in capital, followed by a 6% rise in Asia Pacific. New capital remained flat in the Americas, allowing European targeted capital to catch up to same level.
Growth in capital was driven by a modest increase in gearing levels across all regions as lending conditions improve.
Despite total capital available being pushed up by increased level of debt, the equity component fell by 2% to USD163 as investors put existing capital to work. Growth in new capital raising (up by 60% to USD49b) was more than enough to offset reduction in existing raised capital.
Source : DTZ (Groupe UGL)