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For months, market participants have been talking about a slowdown in fundraising activity. Now the proof is in the pudding in PERE’s Q3 2022 fundraising report.
Overall real estate fundraising has slowed significantly as the market grapples with myriad macroeconomic and geopolitical challenges. Just over $107 billion has been raised year-to-date, the smallest Q1-Q3 fundraising amount since 2013. Only 229 vehicles closed during the first three quarters, putting 2022 on pace to have the fewest number of funds raised since 2010. A record Q4 last year led 2021 to a stronger finish than the prior fundraising years. However, even a significant boost during the final three months of the year could still leave 2022 short of the recent fundraising average.
On a positive note, a number of multi-billion-dollar funds closed during the third quarter, including the second mega-fund of the year. TPG raised $6.8 billion for its Real Estate Partners IV fund, making it the largest fund raised this year by over $1.5 billion. Other significant capital raises this past quarter include Aermont Capital’s Real Estate Fund V and LaSalle Investment Management’s Asia Opportunity VI, respectively closing on $3.72 billion and $2.2 billion.
Check out our interactive report for a more extensive analysis of Q3’s fundraising figures, including the quarter’s most popular strategies and the largest funds in market.