PERE has tracked the data over the last 12 months and crunched the numbers and, finally, we can reveal the institutions that have committed the most capital to private real estate in 2019.
And, as in 2018, the word that perhaps best defines the list this year is ‘stability’. The top 10 largest investors, for example, all remained in the top 10, with half maintaining the same rank they held in last year’s ranking.
Seemingly, it will take an almighty effort to dethrone the sovereign wealth fund giant Abu Dhabi Investment Authority from the number one spot it has held since PERE started compiling an institutional investor ranking in 2014. However, ADIA’s total allocation to the sector is $62 billion – the same as in 2018. Its nearest rivals, APG Asset Management and Allianz Real Estate have narrowed the gap, increasing their allocations from $43 billion to $51 billion and $48 billion to $50 billion respectively.
Other key takeaways from this year’s GI 50 include:
- $1 trillion – total allocation of the GI 50 to private real estate in 2019
- Capital concentration – the top 10 largest investors made up more than 40 percent of the $1 trillion total allocation to private real estate this year
- North America domination – the region’s investors had the highest allocation to the sector on $415 billion
- Europe’s strong showing – the region was not far behind North America, with nearly $392 billion allocated to private real estate
- 42% – public pension funds make up almost half of the institutions in the GI 50 list