A total of 17
The decline from the same quarter in 2008, however, is even more dramatic— 2009 fundraising represents just 12% of the $40.5 billion, which was raised in the third quarter of 2008.
“Although it is clearly an extremely difficult period for the asset class, Preqin’s conversations with institutions indicate that these investors are not abandoning the private equity real estate asset class and will recommence investments in the fourth quarter of 2009 or during 2010,” said Andrew Moylan, manager – real estate
The number and aggregate target of private equity real estate funds in market has been declining throughout 2009. The aggregate target of all funds in market has fallen by $21 billion over the course of the third quarter, as fund managers have reduced their fundraising targets in response to
In 2009 to date, just 18% of fund managers have achieved or exceeded their fundraising target, with 82% of funds falling short of their equity goals. This provides further evidence of how difficult the fundraising environment is at present, according to Preqin. In 2007, 79% of funds matched or exceeded their target size.