The Q4 2021 Global IRR Index reveals funds launched in 2019 posted an average IRR of 6.8%, up from 1.5% last quarter.
The ninth Global IRR Index consultation release includes 331 closed end funds across vintages from pre-2002 to 2019 with a non-core manager defined strategy.
- Despite a +530 bps average IRR increase in Q4 2021, the 2019 vintage still holds the weakest performance relative to all single year vintages since the Global Financial Crisis
- Single country funds in the 2017-2019 vintage group showed a sharp increase in performance in Q4 2021: 10.9%, up from 6.8% in Q3 2021
- With an average IRR of 18.7%, the US 2008-2010 fund vintage remains the strongest performing vintage group across the Index. The 2011-2013 fund vintages were the strongest performing for both Asian Pacific and European funds.
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The first Global IRR Index provides data on the performance of value added and opportunity strategy closed end non-listed real estate funds in Asia Pacific, Europe and the US.