The Q2 2026 Global IRR Index release monitors 439 closed end funds across vintages from pre-2001 to 2022. All of these 439 funds follow a non-core strategy as defined by their managers and include 385 value added and 54 opportunistic funds.

Key highlights:

• This release of the Global IRR Index features 73 Asia Pacific funds, 170 European and 196 funds focused on the USA.

• At 11.04%, the IRR for the 2024 vintage is currently the highest among post-2013 vehicles.

• A majority of funds have value added and single country strategies.

• USA’s 2008-2010 fund vintage performance continues to lead all cohorts in all regions.

• The Global IRR Index now includes insights on the 2020-2022 and post 2022 vintage groups

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 Daisy Huang or Eileen Chiu.