A total of €121.8 billion of new equity was raised for non-listed real estate in 2016.
Non-listed real estate remains in favour with investors of all types, especially pension funds and insurance companies.
Europe remains the most popular target market, with the largest share of capital raised for non-listed real estate funds.
There is a notable shift in sector preferences with 64.3% earmarked for multi-sector versus 35.7% for single sectors. Germany and the Netherlands accounted for the largest share of capital for single-country funds at 12.6% and 12.3%, respectively, reflecting a shift in focus.
This is the eleventh annual survey exploring fund managers’ capital raising activities and for the third year it has been carried out on a global basis by INREV, ANREV and NCREIF.
The Capital Raising Survey is a backward-looking analysis of recent capital raising activities by region, investment strategy, style, structure and other factors. This survey has been conducted annually since 2006. Since 2015, the survey has been global in scope, thanks to the involvement of ANREV and NCREIF.