Starwood Capital Group pushed private real estate fundraising past the $20 billion mark with the close of its eleventh opportunistic vehicle in the first quarter.
Overall, 22 managers finalized fundraising, collecting an aggregate $26.75 billion, more than half of which sought opportunistic investments.
PERE data show fundraising generally peaks in Q2 – the highest quarters by capital raised over the past two years being Q2 2016 and Q2 2017, respectively – and with two mega-funds just about to close, 2018 could follow suit. Blackstone is on the verge of wrapping its second Asia-focused vehicle at $7 billion, and Brookfield Asset Management is on the cusp of holding a final close on its third opportunistic fund, with over $9 billion raised against a $10 billion target.
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