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Top 5 real estate fund managers surpass 100 billion each
For the first time a quintet of managers posted real estate AUM of more than 100 billion each. UBS figures on rank 7 of the largest real estate fund managers.
Total real estate assets under management (AUM) reached 2.7 trillion at the end of 2017, representing an increase of 11.6% from the 2.4 trillion recorded in 2016. The average AUM across all managers was 16.7 billion, up by 22.8% from the 13.6 billion average AUM recorded previously.
For the first time a quintet of managers posted real estate AUM of more than 100 billion each. Previously only three managers recorded an AUM in excess of 100 billion. This is the result of the latest annual fund manager survey published by real estate associations INREV, ANREV and NCREIF.
The 10 largest managers represent 38.7% of the overall AUM which is on par to levels observed in previous years. The degree of concentration among managers varies across the investment strategies. For global investment strategies, the top three largest players are much larger in terms of total AUM than the fourth-ranked player. This is not the case for all regional strategies. For Asia Pacific strategies the largest manager is much larger than the rest, while for European and North American strategies the leading players are bunched much more closely together.
With 184.3 billion of real estate AUM, The Blackstone Group tops the overall list. Their total real estate AUM increased by 28.7% from 143.2 billion previously. Brookfield Asset Management posted total real estate AUM of 147.9 billion, a modest 5.3% increase from the previous year bringing them to second place. In third position was PGIM with 121.6 billion of real estate AUM. Hines and TH Real Estate conclude the quintet of managers with AUM in excess of 100 billion, with 104.7 billion and 103.8 billion respectively
