These are the 10 largest real estate fundraisers of the last 5 years

Blackstone tops the list by a wide margin, raising more than the next 3 firms combined

National /
Dec.December 08, 2021 06:00 AM
Blackstone’s Stephen A. Schwarzman and Jonathan Gray (Getty)
Blackstone’s Stephen A. Schwarzman and Jonathan Gray (Getty)

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro— the one-stop real estate terminal that provides all the data and market information you need.

When it comes to the top real estate fundraiser of the past five years, the results can be written in stone — Blackstone, that is.

The longtime industry titan has raised nearly $64 billion in real estate funds over the last five years — more than the next three largest fundraisers combined, according to data from Preqin.

That doesn’t mean others are shying away from the competition.

The remaining firms that round out the top 10 have raised a combined $131 billion in real estate investment funds in the past five years. Below is a comprehensive look at the rankings.

Blackstone, the largest private landlord in the country, has a $40 billion lead over the next closest competitor. The firm says it manages $230 billion in real estate investment capital and values its global real estate portfolio at nearly $450 billion.

Known for its megadeals, the investment giant gathered $8 billion for the largest real estate debt fund in history last year, and jumped back into the residential market with a $6 billion acquisition of Home Partners of America in June.

Its commercial real estate investments include Stuyvesant Town-Peter Cooper Village — a Manhattan apartment complex totaling over 11,000 units — and, more recently, data center operator QTS Realty Trust for $10 billion, an affordable housing portfolio from AIG for $5.1 billion and warehouse owner WPT Industrial for $3.1 billion.

Trailing Blackstone is Brookfield Asset Management, which has generated $21.4 billion in funds over the last five years. According to Brookfield’s website, the firm’s real estate arm manages $237 billion in assets and 500 million square feet of commercial space.

Brookfield bought out the remaining stake of Waterside Plaza in Kips Bay in August, a property said to be valued at around $600 million.

Rounding out the top five are Lone Star Funds, Starwood Capital and GLP, who have raised $19.8 billion, $17.9 billion and $16.8 billion, respectively.

In October, Starwood, led by Barry Sternlicht, closed a $10 billion fund aimed at acquiring distressed properties.

Though KKR sits just outside the top five at $12.9 billion, the investment firm appears poised to climb the rankings. The private equity firm paid Related Companies $500 million for the Hudson Yards observation deck in October, shortly after closing its third opportunistic real estate fund at $4.3 billion.

CBRE Global Investors, EQT, Bridge Investment Group and BentallGreenOak round out the top 10, combining for $42.3 billion in real estate funds raised.





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