Chart of the Week: Hitting the Target

Only 22% of PERE funds closed in 2013 were under target

 COW25-411 

 

Click here for a larger version. 

 

For funds closed in 2013 with reported target sizes, 78% had either reached or surpassed their target size. Out of the past six years, 2013 had the smallest proportion of fund closings that were under target. This figure demonstrates that 2013 was not only a strong year for large mega-billion funds, but also for smaller funds, as the majority of funds closed had reached their targeted goal, regardless of fund size. 

 

A few of the funds closed in 2013 that were significantly above their target include: Starwood Distressed Opportunity Fund IX, managed by Starwood Capital Group, which closed an extra $1.2 billion above target; Lone Star Real Estate Fund III, managed by Lone Star Funds, with $1 billion past its target; and AllianceBernstein Commercial Real Estate Debt Fund, managed by AllianceBernstein, with $700 million in commitments beyond its target size.