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
Columns
Global real estate AUM increased 5.7%, ending a three-year period of decline
Key highlights include:
- While upper-quartile managers accounted for more than €3 trillion of global real estate AUM (78% of the total), third-quartile managers increased their share of real estate AUM from 12% in 2024 to 16% in 2025.
- The top 10 real estate managers collectively accounted for €1.9 trillion in AUM, approximately half of total global real estate AUM.
- Dry powder fell from €195 billion to €179 billion by the end of 2025, the lowest level recorded since tracking began in 2020. The decline reflects continued capital deployment across the industry.
In the press
10 Jun 2026 - Business Immo
Cela marque la fin d’une contraction de trois ans, avec un retour du core
10 Jun 2026 - Immobilien Zeitung
Nach Jahren des Stillstands wächst der globale Immobilienfondsmarkt wieder, berichtet Inrev. Blackstone bleibt der Platzhirsch.
10 Jun 2026 - Green Street News
Total assets under management rose for first time since 2021, says survey by Anrev, Inrev and Ncreif
10 Jun 2026 - Co Star
Cela marque la fin d’une contraction de trois ans, avec un retour du core
All press releases
Questions about Investment Intentions Survey?
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Jose Monsalve
Senior Research and Analytics Manager
jose.monsalve@inrev.org