Chart of the Week: Core/Core Plus Fundraising

2014 may see the highest Core/Core Plus fundraising to date

 COW 11-5 411x 

Click here for a larger version

Data from PERE Research & Analytics has revealed that a total of $61.9 billion had been raised between 233 funds for core/core plus fundraising from 2008 to YTD 2014. Since its lowest point in 2009, fundraising for the strategy has increased fairly evenly throughout the years, reaching a milestone of $13.6 billion in 2013. 2013 represents a 300 percent growth from 2009, a 72 percent growth from 2010, 126 percent from 2011 and 22 percent from the year prior. For 2014, fundraising for the strategy has been strong, raising a total of $10.7 billion in YTD 2014, accounting for roughly 13 percent of total fundraising so far in the year. 

In terms of geography, North America has led all other regions for the strategy, raising an aggregate size of $7.8 billion in YTD 2014, or approximately 73 percent of core/core plus fundraising in the year. This figure already surpassed North American core/core plus fundraising from the prior year where a total of $5.7 billion had been raised, a growth of 37 percent. The largest core/core plus fund to close for the year so far for the region was the Prologis US Logistics Venture which raised $1 billion in January. Europe came in as second most popular, with aggregate size of $2.4 billion for YTD 2014 while Asia-Pacific fundraising rounds out the top three at $300 million. 

Notable of core/core plus funds in market includes the Rose Rock Partners Fund, managed by Rose Rock Capital Limited, which is targeting $2 billion; the RREEF UK Prime Property Fund, managed by Deutsche Asset & Wealth Management, which is targeting £1 billion; and the UK Property Income Fund II, managed by Legal & General Investment Management which is also targeting £1 billion.