The ANREV / INREV / NCREIF Fund Manager Survey explores total real estate assets under management (AUM) of all real estate fund management companies, providing greater insights into regional composition and vehicle types.

  •  The 10 largest managers represent 40% of the overall AUM which is on par with levels observed in previous years.

    • Total real estate AUM grew by 14.0%, from US$3.2 trillion in 2018 to US$3.6 trillion in 2019
    • The three biggest managers reported real estate AUM above US$175 billion
    • The three biggest managers reported real estate AUM above US$175 billion

    As of 31 December 2019, total real estate assets under management (AUM) stand at US$3.6 trillion compared to US$3.2 trillion at the end of 2018. Non-listed real estate represents a significant portion of total real estate assets under management. Of the US$$3.6 trillion total AUM, non-listed accounts for 82.2% or around US$3 trillion.

    With US$278.7 billion of real estate AUM, The Blackstone Group tops the overall list. Brookfield Asset Management posted total real estate AUM of US$201.9 billion, securing them second place. In third position was PGIM with US$179.2 billion of real estate AUM.

    The two largest managers in Asia Pacific, CapitaLand and ARA Asset Managers, are way ahead of the rest both with total real estate AUM above US$60 billion.

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  • The 10 largest managers represent 40.1% of the overall asset under management

    • Total real estate AUM grew by 12.0%, from US$2.8 trillion in 2017 to US$3.2 trillion in 2018
    • For the first time in the survey’s history the largest manager breached the US$200 billion mark
    • The top five managers represent more than a quarter of total real estate AUM

    As of 31 December 2018, the total real estate assets under management (AUM) was US$3.2 trillion compared to US$2.8 trillion at the end of 2017. Non-listed real estate represents a significant portion of total real estate assets under management. Of the US$$3.2 trillion total AUM, non-listed accounts for 84.0% or US$2.7 trillion.

    The Blackstone Group tops the list with US$230.6 billion of gross asset value (GAV) of non-listed real estate assets under management. Following closely, Brookfield Asset Management ranks second with US$187.3 billion of total real estate AUM. PGIM occupies the third position with US$168.9 billion of global real estate AUM.

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  • The 10 largest managers represent 38.6% of the overall asset under management

    • Total real estate AUM increased by 11.8%, from US$2.5 trillion to US$2.8 trillion
    • Five managers posted real estate assets under management of more than US$100 billion each
    • Average AUM increased by 22.2%, from US$14.4 billion to US$17.6 billion

    As of 31 December 2017, the total real estate assets under management (AUM) was US$2.8 trillion compared to US$2.5 trillion at the end of 2016. Non-listed real estate represents a significant portion of total real estate assets under management. Of the US$$2.8 trillion total AUM, non-listed accounts for 83.3% or US$2.4 trillion.

    The Blackstone Group tops the list with US$193.8 billion of gross asset value (GAV) of non-listed real estate assets under management. Following closely, Brookfield Asset Management ranks second with US$155.5 billion of total real estate AUM. PGIM occupies the third position with US$127.9 billion of global real estate AUM.

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  • 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.

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    • Real estate assets under management grew to US$2.19 trillion
    • The big managers keep getting bigger
    • North American and global strategies are much larger than other strategies

    Total real estate assets under management (AUM) reached US$2.19 trillion in 2015. Overall, the 10 largest fund managers represent 41.0% of the total AUM, up from 36.5% last year.

    With US$149.8 billion of total real estate assets under management, Brookfield Asset Management tops the list in the 2016 survey. The Blackstone Group ranks second overall with US$147.6 billion of total real estate AUM, while TH Real Estate & TIAA occupies the third position with US$120.8 billion of global real estate AUM.

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  • The ANREV/INREV/NCREIF Fund Manager Survey 2015 explores total real estate assets under management (AUM) of all real estate fund management companies.

    The survey seeks to gain a better understanding of the major participants across the real estate industry before taking a closer look at those active in the non-listed real estate industry, with particular focus on non-listed real estate funds. Furthermore, the survey provides insights by region, product type and investment strategy, and where possible provides a breakdown by quartiles.

    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 record number of 164 respondents (2014: 147) across Asia Pacific, Europe and North America. Collectively, they manage total real estate AUM of USD$2.1 trillion (2014: USD$1.9 trillion).

    Figures are quoted as at 31 December 2014 unless otherwise stated.

    ANREV, INREV and NCREIF would like to thank fund managers for their participation in the Fund Manager Survey 2015.

    For further information please contact [email protected]

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  • This report outlines the results of the ANREV/INREV Fund Manager Survey 2014. It looks at the total real estate assets under management (AUM) for individual fund managers as of 31 December 2013.

    The survey is structured in three parts. Chapter one includes all real estate AUM for non-listed and listed vehicles investing directly and indirectly into real estate. Chapter two focuses on non-listed direct real estate vehicles and includes funds/commingled funds, separate accounts investing directly into real estate, joint ventures and club deals. Chapter three looks in depth at non-listed real estate funds/commingled funds. Finally the appendix includes a list of all fund managers participating in the survey with their AUM.

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  • This report outlines the results of the ANREV / INREV Fund Manager Survey 2013. It looks at the total real estate assets under management (AUM) for individual fund managers as of 31 December 2012.

    The survey is structured in three parts. Chapter one includes all real estate AUM for non-listed and listed vehicles investing directly and indirectly into real estate. Chapter two focuses on non-listed direct real estate vehicles and includes funds/ commingled funds, separate accounts, joint ventures and club deals. Chapter three looks in depth at non-listed real estate funds/commingled funds. Finally the appendix includes a list of all fund managers participating in the survey.

    2013 Fund Manager Survey (global) - report (English)PDF
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  • 2012 Fund Manager Survey (global) - presentationPDF
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