Funds that had the first closing between 2017 and 2019 recorded a since inception IRR of 11.0% on a pooled basis, up from 8.9% in Q3 2021.
Key highlights
- Funds launched between 2014-2016 and 2011-2013 displayed similarly strong results in Q4 2021, posting pooled IRRs of 9.2% and 9.3%, respectively
- The difference between the lowest and highest IRR for the 2017-2019 group stood at 33.7%, while for the 2014-2016 and 2011-2013 vintage groups the dispersion of returns was roughly equal at 41.8%
- Recently launched non-core funds power ahead of their core peers this quarter, with pooled IRRs of 12.6% and 8.3%, respectively
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INREV Internal Rate of Return (IRR) Quarterly Index
Last updated on 13 Mar 2024
The IRR Index measures the since inception internal rate of return performance of European closed end non-listed real estate vehicles. Performance is measured net of fees and costs, and is computed on both a pooled return basis and an equally weighted basis.