Investors committed $218.4bn (£160.8bn) to private real estate last year, a jump of a quarter from 2020’s figure and 44% above the pre-pandemic 10-year average.
The rush to put money to work meant that a growing number of funds smashed their targets, according to analysis from data provider Realfin – about 44% of funds surpassed their fundraising target, compared with 33% in 2020 and a 15-year high.
Despite the leap in investment, the number of unlisted real estate funds reaching a final close dipped slightly year-on-year, down roughly 3% at 449. The average fund size hit a record of $625.4m, up by two-thirds on the 10-year average.
