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The Top 10 Largest Real Estate Private Equity Funds in America

    The Top 10 Largest Real Estate Private Equity Funds in America

    Private equity real estate funds have been winning in recent years, posting impressive--even record-setting--returns since 2012. Despite a projected 8.6% dip in 2016, investors remain bullish on PERE funds as a long-term investment. Here are the top 10 PERE funds in America and what they've been up to.

    1. Blackstone Group

    HQ: New York, New york

    CEO: Stephen Schwarzman

    Capital raised: $46.3B

    While Blackstone acquired Bank United in 2009 for $10B and Equity Office Properties for $39B, it also notably purchased Chicago's tallest tower, the Willis Tower, earlier this year for $1.3B--one of just many prominent deals the real estate giant has done in recent years.


    2. Starwood Capital Group

    HQ: Greenwich, CT 

    CEO: Barry Sternlicht

    Capital raised: $31B

    Starwood made headlines when it sold New York's trendy Baccarat Hotel for $230M to a Chinese investor group. The deal put the cost of each room at a record-setting $2M.

    3. Lone Star Funds

    HQ: Dallas, Texas

    CEO: John Grayken

    Capital raised: $12.5B

    Lone Star bought Home Properties earlier this year in a headline-grabbing transaction, shelling out $75.23 per share in cash for a total of $7.6B. This gave the Texan fund 121 communities totaling to almost 42,000 apartment units.  

    4. Brookfield Asset Management

    HQ: Toronto, ON

    CEO: J. Bruce Flatt

    Capital raised: $8.5B

    Canada's largest asset manager made strides into the Land Down Under when it purchased Australian rail and port operator Asciano for $6.55B this month, the largest takeover in the company's history. 


    5. Tishman Speyer

    HQ: New York, New York

    CEO: Rob Speyer

    Capital raised: $8.4B

    As owner of Rockefellar Center and the Chrysler Building, Tishman plans to change the landscape of New York by revamping Hudson Yards with a $3B tower.

    6. Colony Capital

    HQ: Santa Monica, California

    CEO: Thomas J. Barrack

    Capital raised: $6.5B

    Colony Capital has offices in 14 countries around the world along with stakes in companies such as Miramax and LodgeNet. 

    7. Carlyle Group

    HQ: Washington D.C.

    CEO: William E. Conway Jr. 

    Capital raised: $5.9B

    Carlyle has invested in companies like Hertz, Nielsen and United Defense. In 2013, it purchased Chesapeake, one of the largest packaging companies in the world for $6.89B, granting Carlyle access to its 38 nationwide sites. 

    8. Fortress Investment

    HQ: New York, New york

    CEO: Randal A. Nardone

    Capital raised: $4.7B

    Fortress has been expanding ferociusly throughout Japan, having purchased the historic Rihga Royal Hotel in Kyoto in February of this past year. The 1969 landmark was previously owned by Royal Hotels but is one of over 70 hotels bought by Fortress over the past five years. 

    9. Oaktree Capital

    HQ: Los Angeles, CA

    CEO: Jay Steven Wintrob

    Capital raised: $4.33B

    The world’s largest distressed-debt investor, Oaktree's made its first major purchase after its 2012 IPO with a takeover of infrastructure investor Highstar Capital. Already a major player in the real estate space (controlling $7B in real estate assets), Oaktree bought the company with plans to become a power team in the energy and utility sector. 

    10. Ares Management

    HQ: Los Angeles, LA

    CEO: Antony Ressler

    Capital raised: $4.3B

    Ares recently acquired a 2.5M SF European office portfolio from IVG Institutional Funds, valued at more than $442M. The portfolio includes over 30 properties spread over six countries, including the UK, France, Finland and Spain.