The Real Estate Debt 50: Largest Global Real Estate Debt Managers
PERE’s ranking of the largest capital raisers in the real estate debt space
Private debt continued its emergence as a major focus of real estate fundraising last year, accounting for 24.3 percent of all capital raised for private real estate vehicles that closed in 2024 – the greatest share of annual fundraising in at least seven years.
But amid an overall downturn in private real estate capital allocations generally, the rolling five-year fundraising total for real estate’s largest credit managers, PERE’s Real Estate Debt 50, declined year-on-year for the first time since PERE began compiling the ranking in 2019.
At the same time, exactly half of the RED 50 managers reported a year-on-year increase in aggregate capital raised over the previous five years, illustrating the relative resilience of the top real estate credit fundraisers in 2024.