Christie Ou
The total of $138.93bn raised in 2023 represented a 41% drop from the $236.04bn raised in the 2021 fundraising peak.
The new platform is intended to help mitigate miscommunication issues that led to unintended forced sales of properties.
Nearly half of the $4.5bn GCP raised across strategies came from RMB vehicles for the 12 months ended November 2023.
With General Atlantic as its new owner, the firm will add Japan as a new investment market for real estate.
The demand for warehouse space globally will be higher over the next few quarters due to 'escalating issues' in the Suez and Panama canals.
The alternatives giant never reached the heights it hoped with its regional property platform and faced challenges from the get-go.
Several real estate professionals have left the firm since last year, bringing down the curtain on a platform that has been in operation since 2010.
The former Apollo senior executive has left the Swiss investment group less than a year after he joined in April last year.
The country's investors have deployed $7.46bn into overseas real estate year to date, more than triple the outbound volume in 2021.
Bastian Wolff, founding partner at Aquilius Investment Partners, expects more European and North American investors to pivot back to their home markets.