Who are the most active lenders in private real estate?

North American firms dominated PERE’s inaugural listing of the largest real estate debt fund managers.

 

Methodology: The PERE RED 50 ranking is based on the capital raised for the purpose of real estate debt issuance between January 1, 2014, and December 31, 2018.

 

Accompanying PERE’s first special report on debt funds is our inaugural top 50 ranking of global private real estate debt fund managers – RED 50 for short.

Compiled by our colleagues in the PERE research & analytics team, the list is based on the capital raised for debt issuance funds between 2014 and 2018. And a familiar name occupies the number one spot – Blackstone. North American-based managers, in fact, dominate the ranking – 32 feature in total, likely a reflection of the maturity of the market stateside compared to other regions.

European managers take up 16 places in RED 50 with London-headquartered ICG-Longbow the region’s top dog in third place followed by M&G Investments in fourth and DRC Capital falling just outside the top 10 in eleventh position. Asia-Pacific-based fund managers fare less well, with just two managers – Melbourne-headquartered Qualitas and Japan’s Diamond Realty Management –  in RED 50.