The 2021 PERE 100 ranking is based on the amount of private real estate direct investment capital raised by firms between January 1, 2016 and March 31, 2021.
Where two firms have raised the same amount of capital over this time period, the higher PERE 100 rank goes to the firm with the largest active pool of capital raised since 2016 (ie, the biggest single fund). If there is still a ‘tie’ after taking into account the size of a single fund, we give greater weight to the firm that has raised the most capital within the past year.
We give highest priority to information that we receive from or confirm with the private real estate firms themselves. When private real estate firms confirm details, we seek to ‘trust but verify’. Some details simply cannot be verified by us, and in these cases we defer to the honour system.
In order to encourage co-operation from private equity firms that might make the PERE 100, we do not disclose which firms have aided us on background and which have not. Lacking confirmation of details from the firms themselves, we seek to corroborate information using firms’ websites, press releases and limited partner disclosures.
• Limited partnerships
• Co-investment/side-car vehicles
• Seed capital or manager commitment
What does not count?
• Expected capital commitments
• Capital raised for open-ended funds that falls outside the counting period
• Public funds
• Funds of funds
• Non-discretionary vehicles
• Secondaries vehicles
• Private equity
• Hedge funds
• Capital raised on a deal-by-deal basis
• Debt issuing funds