Fund Manager Survey
Published annually since 2011
The ANREV / INREV / NCREIF Fund Manager Survey explores total real estate assets under management (AUM) of all real estate fund management companies, providing greater insights into regional composition and vehicle types.
The survey has global coverage and is conducted in conjunction with ANREV in Asia Pacific and NCREIF in the US with the aim of providing a greater appreciation of the real estate fund manager landscape globally.
Latest highlights
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Global real estate AUM falls for the third consecutive year
Key highlights include:
- The concentration of capital in the upper quartile intensifies. The fund managers in the upper quartile account for more than 83% of the total global real estate AUM, the largest share since the inception of the study
- The top 10 real estate managers collectively account for €1.9 trillion in AUM, more than 52% of the capital allocated to real estate globally
- The dry powder fell from €223 billion (8% of the global AUM) to €195 billion (7.4% of the global AUM) by the end of 2024. While the headline decrease may appear negative at first glance, it reflects a positive shift as managers begin to deploy committed capital.
In the press
04 Jun 2025 - Green Street News
Slight dip in total AuM last year reflects positive shift, according to INREV analysis
04 Jun 2025 - Business Immo
Le total des actifs immobiliers mondiaux sous gestion a chuté à 3,6 billions d'euros en 2024, soit une baisse de 2,7 % par rapport aux 3,7 billions d'euros enregistrés l'année précédente, selon le Fund Manager Survey 2025 publié aujourd'hui par l'ANREV, l'INREV et le NCREIF.
04 Jun 2025 - Immobilien Zeitung
Das verwaltete Vermögen am globalen Immobilienfondsmarkt schrumpft das dritte Jahr in Serie. Aber die großen Player werden immer größer, und Deka ist neu in den Europa-Top-10.
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