How the survey was conducted

Data for this Pensions & Investments directory were compiled from questionnaires completed by real estate investment managers.

Unless otherwise noted, real estate assets are as of June 30 and reported net of leverage, including contributions committed or received but not yet invested.

Although the main ranking is by total worldwide real estate assets, only firms that manage real estate assets or invest in real estate investment trusts on behalf of U.S. institutional tax-exempt clients were eligible for inclusion.

All eligible real estate asset management firms are included in the listings on Pages 34 and 35.