Appetite for residential investment has fueled some of the biggest risers in the PERE 200.
The PERE 100 has long been dominated by Blackstone and Brookfield. But their superior fundraising masks the relevance of others.
The latest PERE 200 ranking demonstrates the increasing geographical dispersion of mid-tier real estate managers in the US. By Aisha Kapoor
Transactions by the PERE 100 cohort of managers were down in the year the market cycle turned, but their net investment positions increased, writes Tom Leahy, head of EMEA real assets research at MSCI.
The 2023 PERE manager rankings are based on the amount of private real estate direct investment capital raised by firms between January 1, 2018 until March 31, 2023.
Whether risers or fallers, all the managers in this year’s PERE 100 and PERE 200 rankings are gearing up for the change in market cycles.
Fundraising for impact strategies is tough. But as the cost-of-living crisis hits society’s most vulnerable people, there is a growing need for private investors to step up.
The firm has included private credit investments for the first time in its Gateway fund series due to the higher interest rate environment.
Velo Capital, the recently formed group’s credit arm, will target financing opportunities including ‘brown-to-green’ schemes.
The New York-based manager initially targeted $750m for its second fund, snagging capital from institutional and high-net-worth investors.