Opportunistic real estate funds raised $47.7 billion through the first three quarters, surpassing the $34.5 billion raised in all of 2014, according to a report Monday by Preqin.
Blackstone Real Estate Partners VIII is the largest fund to close so far in 2015, raising $15.8 billion. Lone Star Real Estate Fund IV ($5.8 billion) was second, followed by Starwood Global Opportunity Fund X ($5.6 billion).
Andrew Moylan, head of real asset products at Preqin, noted in the report that “the first three quarters of 2015 have seen more capital raised for opportunistic real estate funds than in any full year since the global financial crisis” on over concerns about the pricing of core assets.
