The first quarter of 2014 proved encouraging for private real estate fundraising, with the aggregate $24bn raised by the 35 funds which held final closes representing the largest amount of capital raised in a first quarter since Q1 2008. Funds that closed in the quarter spent less time in market on average than those closed in 2013, and more met or exceeded their fundraising targets than did so last year, again suggesting an improving fundraising environment.
Europe-focused fundraising has increased significantly over the past year as a result of growing appetite for European exposure from institutional investors based both in Europe and elsewhere, with a record €8.8bn ($12.1bn) raised by Europe-focused funds in Q1. While the €5.1bn close of Blackstone Real Estate Partners Europe IV accounted for much of this, Tristan Capital Partners, M&G Investments and LaSalle Investment Management were among the firms closing sizeable European offerings in the early months of 2014.
Source : Preqin