Indirex Blog

November 2011 - Primary Capital Raises

12 December 2011

• $5.3 billion was reportedly raised for unlisted real estate funds around the world during November 2011.
• The USA was the largest focus with Blackstone Fund VII and Carmel Partners Investment Fund IV both declaring a raise of $700m; along with Fir Tree Real Estate Opportunity Fund II closing with $628m.
• Europe (including the UK) accounted for 31% of the cash raised in 14 funds of which the UK contributed for 2 funds with Columbus UK Real Estate Fund holding its final close at £160m.
• Notable European closings include Altarea Cogedim's AltaFund Value-Add I fund having a final close of €600m which is an extra €240 from our last report and the Goodman European Logistics Fund (GELF) raising €400m.
• Vast majority of the 28 funds raising capital this month have a non core strategy (13 Value-Add strategy and 10 Opportunity strategy).
• Of these 28 funds just under half of them have a Diversified investment focus with seven Retail funds being the next focus, taking over from residential in October.