The ANREV / INREV / NCREIF Capital Raising Survey explores capital raising activities in the non-listed real estate industry. The survey, launched in 2014, provides insights by region, product type, investment strategy, and where possible presents a historical comparison based on previous studies. It has a global outreach since 2015.

  • With the popularity of the Asia Pacific non-listed real estate market continuing to increase, it is timely to assess how much capital is entering the market and what this figure represents on a global basis.

    The Capital Raising Survey was first launched in 2014. This survey gives an insight into capital raising activities within the non-listed real estate industry by region, product type and investment strategy. The non-listed real estate products include separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. The report offers detailed insights into global and regional capital raising figures.

    The 2020 survey attracted the participation of 159 fund managers globally, and although this is lower compared to last year when over 200 respondents were included, the total capital raised for new investments into real estate ran up to a record of US$225.8 billion.

    Capital was sought for 982 vehicles which equate to a minimum of US$220.3 billion of new equity raised for investments into non-listed real estate, a substantial increase compared to the previous record of US$185.4 billion for 2018. The Asia Pacific region attracted US$32.8 billion of equity, a significant increase to the previous years’ figure of US$26.9 billion.

    2020 ANREV Capital Raising Survey - ReportPDF
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    2020 ANREV Capital Raising Survey - InfographicPDF
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    2020 ANREV Capital Raising Survey - SnapshotPDF
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  • With the popularity of the Asia Pacific non-listed real estate market continuing to increase, it is timely to assess how much capital is entering the market and what this figure represents on a global basis.

    The Capital Raising Survey was first launched in 2014. This survey gives an insight into capital raising activities within the non-listed real estate industry by region, product type and investment strategy. The non-listed real estate products include separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. The report offers detailed insights into global and regional capital raising figures.

    The 2019 survey attracted a record number of participants with 203 fund managers globally completing the questionnaire, a 16% increase compared to 2018 when 175 fund managers responded to the survey. 78.8% of those surveyed raised a combined US$193.7 billion for investment into the real estate industry throughout 2018.  The Asia Pacific region attracted US$26.9 billion of equity, a slight increase to the previous years’ figure of US$26.2 billion.

    2019 ANREV Capital Raising SurveyPDF
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    2019 ANREV Capital Raising Survey InfographicPDF
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    2019 ANREV Capital Raising Survey SnapshotPDF
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  • With the popularity of the Asia Pacific non-listed real estate market continuing to increase, it is timely to assess how much capital is entering the market and what this figure represents on a global basis.

    The Capital Raising Survey was first launched in 2014. This survey gives an insight into capital raising activities within the non-listed real estate industry by region, product type and investment strategy. The non-listed real estate products include separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. The report offers detailed insights into global and regional capital raising figures.

    The 2018 survey attracted a record number of participants with 175 fund managers globally completing the questionnaire, a 8% increase compared to 2017 when 162 fund managers responded to the survey. 76.6% of those surveyed raised a combined US$160.2 billion for non-listed real estate throughout 2017.  The Asia Pacific region attracted US$26.2 billion of equity, a significant increase to the previous years’ figure of US$22.9 billion.

    ANREV Capital Raising Survey 2018 Report (2nd Publication)PDF
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    ANREV Capital Raising Survey 2018 SnapshotPDF
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    ANREV Capital Raising Survey 2018 InfographicPDF
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    ANREV Capital Raising Survey 2018 Excel SupplementXLSX
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  • With the popularity of the Asia Pacific non-listed real estate market continuing to increase, it is timely to assess how much capital is entering the market and what this figure represents on a global basis.

    The Capital Raising Survey was first launched in 2014. This survey gives an insight into capital raising activities within the non-listed real estate industry by region, product type and investment strategy. The non-listed real estate products include separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. The report offers detailed insights into global and regional capital raising figures.

    The 2017 survey attracted a record number of participants with 162 fund managers globally completing the questionnaire, a 6% increase compared to 2016 when 153 fund managers responded to the survey. 80.2% of those surveyed raised a combined US$128.4 billion for non-listed real estate throughout 2016.  The Asia Pacific region attracted US$22.9 billion of equity, the only region to see an increase of capital raised in comparison to 2015. 

     

    ANREV Capital Raising Survey 2017PDF
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    ANREV Capital Raising Survey 2017 SnapshotPDF
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    ANREV Capital Raising Survey 2017 InfographicPDF
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  • The ANREV / INREV / NCREIF Capital Raising Survey 2016 explores capital raising activities into the non-listed real estate industry in 2015. The particular focus of the report is on Asia Pacific vehicles. The survey provides insights by region, product type, investment strategy, and where possible presents a historical comparison based on previous studies.

    The 2016 survey attracted a record number of participants with 153 fund managers globally completing the questionnaire, a 7.8% increase compared to 2015 when 142 fund managers responded to the survey. In total, the majority (85 or 55.6%) of fund managers were from Europe, followed by those domiciled in Asia Pacific (46 or 30.1%) and North America (22 or 14.4%). 

    Highlights:

    • US$134.8 billion of new equity raised for non-listed real estate in 2015
    •  Non-listed real estate vehicles continue to attract investors of all types
    • Pension funds are the biggest source of capital globally 
    • Europe was the most popular target market
    • US$18.4 billion raised for Asia Pacific

    ANREV, INREV and NCREIF would like to thank fund managers for their participation in the Survey.

    For further information please contact [email protected]

     

    ANREV Capital Raising Survey 2016 SnapshotPDF
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    ANREV Capital Raising Survey 2016 Snapshot JapanesePDF
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    ANREV Capital Raising Survey 2016 Snapshot KoreanPDF
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    ANREV Capital Raising Survey 2016PDF
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    ANREV Capital Raising Survey 2016 InfographicPDF
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  • The ANREV / INREV / NCREIF Capital Raising Survey 2015 explores capital raising activities into the non-listed real estate industry in 2014. The survey provides insights by region, product type, investment strategy, and where possible provides a historical breakdown and analysis by fund manager quartiles based on the size of assets under management (AUM).

    This year, for the first time, the survey has a global outreach and was conducted in conjunction with INREV in Europe and NCREIF in the US. The 2015 survey attracted a participation of 142 fund managers globally (2014:106).

    In the past year fund managers raised USD149.2 billion globally which is a 12.6% increase compared to 2013. Non-listed real estate funds continue to attract the majority of the private equity raised for real estate globally with 53.7% of the total equity raised, compared with 49% in 2013.

    Capital raised for Asia Pacific non-listed real estate funds has been analysed for the first time.

    ANREV, INREV and NCREIF would like to thank fund managers for their participation in the Survey.

    For further information please contact [email protected]

    ANREV Capital Raising Infographic 2015PDF
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    ANREV Capital Raising Survey 2015PDF
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  • CAPITAL RAISING 2014 – PILOT SURVEY

    ANREV’s survey of 147 fund managers found that the non-listed real estate industry raised a total of US$132.5 billion of capital globally in 2013 compared to USD86.4 billion in 2012.

    Asia Pacific strategy vehicles raised US$20.2 billion in 2013 compared to US$11.4 billion in 2012. The greatest share of this – US$14 billion – was allocated to non-listed funds.

    With the rapid growth of the Asia Pacific non-listed real estate market, it is timely to assess how much capital is entering the market and what this figure represents on a global basis. This inaugural annual ANREV report provides information on the amount of institutional equity capital entering the Asia Pacific non-listed real estate market and offers insights into its target strategies, as well as overall global figures.

    This survey covers capital raising activities across all Asia Pacific non-listed products including separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. 

    CAPITAL RAISING 2014 – PILOT SURVEYPDF
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