Data from PERE Research & Analytics reveals that, at the end of Q1 2015, a total of $38 billion was raised from 49 funds, closing on the highest amount of capital in the first quarter of any other post-crisis year. Within the quarter, the ten largest funds raised a total of $28.3 billion, accounting for 74 percent of total fundraising for the quarter.Â
Of the top ten, Global funds make up the majority of capital, with three funds raising a total of $21 billion, or 74 percent of the top ten aggregate capital. The Blackstone Real Estate Partners VIII was the largest fund to close for the quarter. The fund is expected to be 70 percent allocated to the US, 10 percent to Asia and 10 percent to 15 percent in Europe, with the remaining capital in Latin America. North American focused funds came in second with an aggregate of $4.8 billion. The CIM Fund VIII led fundraising for the region, raising a total of $2.4 billion. Other notable fund closures include the Starwood Distressed Opportunity Fund X, which raised $5.6 billion; the value added Ares US Real Estate Fund VIII, which closed on $823.6 million; and the debt-focused Stabilis Fund IV, which raised $540 million.
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