Data from alternative assets data firm Preqin shows 2015 was the biggest year for private real estate funds since the financial crisis, with $107B raised. It expects that number to rise 10% to 20% with the release of the full 2015 stats, outstripping the $111B from 2014.
But not all private funds are created equal—opportunistic and value-added funds raked in the most cash at $54B and $22B, compared to debt funds at only $14B (43% of last year).
Blackstone (head of real estate Jonathan Gray pictured) alone snagged $15.8B of that opportunistic fund cash. But while fundraising is up, it’s hard to find sweet places to put that cash for good returns.
Even with a quarter of a trillion dollars of real estate dry powder, Preqin head of real assets products Andrew Moylan says fund managers have a hard time finding “compelling opportunities at attractive prices.” [GlobeSt]
