Blackstone Tops List of Global Real Estate Funds
The company has topped a list of global real estate fund managers for the second year running, with assets under management of $214.9 billion up by $47.8 billion from the previous year, according to the Fund Manager Survey 2018, published by INREV, ANREV and NCREIF. The survey also reveals an 11% uplift in total AUM among global real estate funds from $2.7 trillion to $3.14 trillion in 2017.
For the first time, managers needed to achieve AUM in excess of $116.7 billion to feature in the top five, which this year included: The Blackstone Group, Brookfield Asset Management, PGIM, Hines and TH Real Estate. In 2015, the equivalent figure was less than $70 billion.
Brookfield Asset Management posted total real estate AUM of $172.5 billion, a modest 5.3% increase from the previous year bringing it to second place. In third position was PGIM with $141.6 billion of real estate AUM. Hines and TH Real Estate had $122.1 billion and $121.1 billion respectively.
PGIM topped the list for North American strategies with AUM of $111.6 billion, much larger than the $73.5 billion recorded by AXA Investment Managers – Real Assets, which earned first place among managers operating European strategies. In Asia Pacific CapitaLand Limitedranked first with $53.5 billion while The Blackstone Group earned its top place among global strategy managers with $109.1 billion, ahead of Prologis with $83.1 billion.