Indirex Blog

December 2011 - Primary Capital Raises

16 January 2012

•    $4 billion was reportedly raised for unlisted real estate funds around the world during December 2011.
•    The USA was the largest focus again with Carlyle Realty Partners VI holding a final close with an extra $320m adding to its previous $2bn raise. The largest raise was Jamestown Premier Property Fund (JPPF) which  held its first close on $900m.
•    Europe reported two funds raising capital being GE Gateway Fund closing on €400m and ASR Dutch Prime Retail Fund closing on €380m. UK funds fell just short of this raising €629m in three funds including two new JV’s.
•    Notable new first closing announcements include AREA Property Partners Fund VIII looking to raise $750m and Paladin Realty Latin American Investors IV looking to raise $400m for another Latin American fund with a first close expected in February 2012.
•    14 of the 20 funds raising capital this month have a non-core strategy (8 Value-Add strategy and 6 Opportunity strategy). The remaining 6 funds were split evenly between core and core-plus.
•    Of these 20 funds just under half of them have a Diversified investment focus with Retail and office funds being the next focus with 3 each. This is in line with November.