Fund managers reached a new record of US$2.5 trillion of real estate assets under management

• Top 10 largest fund managers represent 38.8% of total AUM
• JVs and club deals make up a material part of the value in Asia Pacific (28.0%)
• Pension funds continue to be the dominant investor type for non-listed direct real estate

As of 31 December 2016, the total real estateassets under management (AUM) was US$2.5 trillion compared to US$2.19 trillion at the end of 2015. The top 3 fund managers’ assets under management comprises over US$420 billion and the top 50 fund managers increase their assets under management by more than US$4 billion each.

The Blackstone Group tops the list with US$150.9 billion of gross asset value (GAV) of non-listed real estate assets under management. Following closely, Brookfield Asset Management ranks second with US$148.0 billion of total real estate AUM. PGIM occupies the third position with US$121.7 billion of global real estate AUM.