The Q2 2024 release of the Global IRR Index monitors a sample of 388 closed end funds across vintages from pre-2001 to 2022. All of these 388 funds follow a non-core strategy as defined by their managers and include 337 value added and 51 opportunistic funds.

Key highlights:

• This release of the Global IRR Index features 73 Asia Pacific funds, 145 European and 170 funds focused on the USA.

• The IRR of funds launched Post 2019 improved by 375 bps to -6.93%, from -10.67% in Q1.

• The two strongest vintage groups are represented by funds launched before 2001 and between 2011 and 2013. They posted average IRRs of 14.73% and 14.12%, respectively.

• The best performing vintage group continues to be the USA’s 2008-2010 cohort which has delivered an equally weighted IRR of 18.18%.

The Global Internal Rate of Return (IRR) Index is jointly produced by INREV, ANREV and NCREIF to measure the IRR performance of closed end non-listed real estate vehicles since inception on a global scale.

For any queries please contact Amélie Delaunay, Daisy Huang, or Eileen Chiu.