Home / News / INREV News / Global real estate AUM falls to €3.7 trillion

Global real estate AUM falls to €3.7 trillion

Total global real estate assets under management (AUM) fell to €3.7 trillion¹ at the end of 2023, according to the Fund Manager Survey 2024, published today by ANREV, INREV and NCREIF.

This is just slightly below the €3.9 trillion reported in 2022 and reflects the historically low levels of capital raising activity during 2023.

Key highlights include:

  • Concentration of capital in the upper quartile continues. The fund managers in the upper quartile accumulate around 79% of the total global real estate AUM.
  • Top 10 RE managers reported an average AUM of €189.6 billion, a 2.9% increase on the €182.6 billion equivalent at the end of 2022.

The Fund Manager Survey explores the real estate assets under management, providing insights into regional composition and vehicle types. It uses the Global AUM definition as agreed by ANREV, INREV and NCREIF and PREA.

Download the full report, snapshot, chartbook and Excel below.

¹ The number is deemed to be representative of the global non-listed real estate fund manager universe despite some variation in the number of respondents to the survey from one year to another.