$23.5 billion goes to private equity real estate

Real estate investment managers raised about $23.5 billion in 285 private equity funds in the first half of the year, according to Ernst & Young.
OCT 11, 2007
Real estate investment managers raised about $23.5 billion in 285 private equity funds in the first half of the year, and plan to raise another $35 billion, according to Ernst & Young’s annual survey of private equity real estate investment managers. Last year, real estate investment managers raised $38.7 billion in 35 funds. The average return expectation for the 2007 funds is 20% gross and 16% net of fees. Larger funds, with more than $500 million, are allocating about 31% to Europe and Asia. Smaller funds — with between $200 million and $500 million — have 9% allocated outside the U.S.

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