It is too early to be talking about a fundraising recovery
A highly regarded industry report points to several reasons for optimism in 2024. But one key driver for fundraising is still missing for now.
Expert analysis by Evelyn Lee
The latest fundraising stats do not give the private real estate industry much reason to celebrate. A total of $95.1 billion was raised during the first three quarters of the year, according to PERE’s Q3 2023 fundraising report, which was published this week. It is the lowest Q1-Q3 amount raised since 2017, when $94.1 billion was gathered during the same timeframe.
If capital raising activity continues at its current pace, 2023 will be on track to be the worst fundraising year in more than a decade, with an estimated $130 billion raised by year-end. The last time fundraising totals sunk to such levels was in 2012, when just $119.7 billion was captured for the entire year...