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FundTracker Reports

Our FundTracker TrendWatch reports give you weekly snapshots of information from our IREI FundTracker database.

FundTracker Reports

FundTracker TrendWatch 09-20-16

According to IREI’s TrendWatch, 52 percent of the infrastructure funds reaching final close since Jan. 1, 2014, focused on energy strategies. Energy funds also account for 46 percent of infrastructure funds launched in that time period.

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FundTracker TrendWatch 09-07-16

According to IREI’s FundTracker database, diversified funds accounted for 42 percent of the real estate funds closed, and 52 percent of the capital raised, since Jan. 1, 2015. The second most-popular sector focus was debt, followed by residential funds.

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FundTracker TrendWatch 08-16-16

Infrastructure mega-funds have accounted for 78 percent of capital raised by infrastructure funds closing year-to-date 2016. One fund accounted for nearly 38 percent of all capital raised YTD.

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FundTracker TrendWatch 08-02-16

Mega-funds, which accounted for 66 percent of the capital closed in 2015 only account for 55 percent so far this year. They are also taking slightly longer to close than in previous years.

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FundTracker TrendWatch 07-19-16

Funds closing in second quarter 2016 raised only 34 percent of capital raised by funds closing in the same time period of 2015. Based on amount of capital raised YTD, 2016 is proving to be a very slow year for infrastructure.

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FundTracker TrendWatch 07-05-16

The trend of fewer real estate investment funds raising larger amounts of capital is continuing quarter-over-quarter and year-over-year. When looking at funds holding final closes in second quarter 2016, three of the 24 funds closed accounted for 55 percent of the capital raised.

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FundTracker TrendWatch 06-21-16

In the past 30 months, infrastructure funds holding a final closing have raised $124.3 billion. Just $9.4 billion of that total came from debt funds. So far in 2016, only one debt fund has closed, raising $647 million for Europe infrastructure.

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FundTracker TrendWatch 06-07-16

According to IREI’s FundTracker database, the amount of capital raised by debt funds has slowed but, because the entire fundraising market has slowed, their market share has increased. North America and Europe continue to attract the lion’s share of interest.

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FundTracker TrendWatch 05-24-16

Based on YTD data, 2016 is looking like it will be a weak fundraising year for infrastructure. Amount of capital raised by funds closed, amount of capital targeted by nearly launched funds, and absolute number of funds launched and closed are all down year-over-year — as well as down year over multiple years.

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FundTracker TrendWatch 05-10-16

Only 62 funds have launched this year compared to 101 during the same time period last year, and only 34 funds have closed versus 41 at this time in 2015. North America, in particular, has seen a fall off in interest.

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FundTracker TrendWatch 04-19-16

According to preliminary first quarter 2016 numbers, the number of infrastructure funds reaching a final close in the first quarter has continued to decrease while the size of those funds has increased. In addition, the time from launch to final closing is increasing.

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FundTracker TrendWatch 04-05-16

Based on early numbers for first quarter 2016, real estate fundraising is chugging along at a steady pace, with amounts raised in Q1/15 and Q1/16 being nearly identical. Higher-return strategies dominate as investors look to meet return objectives.

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FundTracker TrendWatch 03-22-16

In 2013, the average infrastructure fund closed at $1.6 billion. By 2015, that average had increased to $2.2 billion. Despite the fact that non-mega funds grew to almost $1 billion on average, mega-funds still accounted for 72 percent of the capital raised by funds closing in 2015.

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FundTracker TrendWatch 03-08-16

Mega-funds continue to take market share from smaller funds. In 2015, funds that closed with $1 billion or more in commitments accounted for 22 percent of all funds closed and 69 percent of the capital raised.

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FundTracker TrendWatch 02-23-16

The amount of time the average fund takes from beginning to final close has crept up over the past year. Funds focused on North America and/or energy, however, closed more than 33 percent faster than the overall average.

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FundTracker TrendWatch 02-09-16

According to IREI’s FundTracker database, the amount of time real estate funds are in the market has fallen steadily since 2013. Large funds, global funds and higher-return funds had the shortest closing times.

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FundTracker TrendWatch 01-26-16

According to IREI’s FundTracker database, infrastructure investors can choose from more than 275 funds now in the market. Investment options range from debt to equity, from open-end to closed-end, from regionally focused to globally focused, and much more.

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FundTracker TrendWatch 01-19-16

According to IREI’s FundTracker, investors have more choices than ever when it comes to placing their real estate allocations. The number of funds currently marketing has grown, as has the amount of capital being sought, the number of regions being targeted and the types of structure available to investors.

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FundTracker TrendWatch 01-12-16

According to FundTracker, the 21 infrastructure funds closing in 2015 raised about $45 billion. In 2014, 32 funds raised $45.1 billion. Both years are a drop from 2013’s $52 billion raise, but both still represent a significant amount of capital looking for deals.

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FundTracker TrendWatch 01-05-16

Thanks to Blackstone’s $15.8 billion fund close, 4Q/15 fundraising totals surpassed those of 4Q/14, and took 2015’s total capital raised past the $100 billion mark.

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FundTracker TrendWatch 12-22-15

As 2015 winds down, investors and managers are looking back with a sigh of relief. 2014 had been a very good year for real estate, and there was some skepticism that the good times would continue. But they did.

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FundTracker TrendWatch 12-15-15

According to FundTracker, the average size of all funds having final closings in the past three years is still growing — increasing from $507 million in 2013 to $883 million YTD 2015. Much of this increase, however, is due to the increasing size of mega-funds, which came in at $1.8 billion in 2013 and $2.7 billion YTD 2015.

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FundTracker TrendWatch 12-08-15

TrendWatch tracked open-end funds launched since the beginning of 2011. The number launched each year grew through 2013, then began a slide that mirrored the growth years.

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FundTracker TrendWatch 12-01-15

According to IREI's FundTracker database, 74 percent of all capital raised by funds closed year-to-date has been for higher-return strategies. In addition, the average fund size of higher-return funds is more than double that of lower-return or mid-return funds.

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FundTracker TrendWatch 11-17-15

The need for modern infrastructure is wide and varied, but only three fund strategies are catching investors’ attention — energy, diversified and debt.

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FundTracker TrendWatch 11-10-15

Despite investors often voicing a preference for sector-specific funds, the vast majority of real estate investment funds are diversified across all sectors. Another large percentage have mandates for two sectors. Few are truly sector-specific.

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FundTracker TrendWatch 11-03-15

Despite the interest in infrastructure financing, only six infrastructure debt funds have closed since Jan. 1, 2013, according to IREI’s FundTracker. In total, these funds raised less than $10 billion.

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FundTracker TrendWatch 10-27-15

Based on FundTracker data, real estate debt funds have become a significant part of the market. The amount of capital raised by funds with a debt component is significantly greater than their numbers would indicate.

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FundTracker TrendWatch 10-20-15

TrendWatch finds that more infrastructure funds are launched in January than any other month. October is the most popular month for fund closings, while funds closed in April raised the most capital.

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FundTracker TrendWatch 10-13-15

During the past four years, more funds were launched in January than any other month of the year. In fact, more than double the number of funds were launched in the first month of the year than in June, the second most popular month. June turns out to be the second most-popular month for closings, as well.

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FundTracker TrendWatch 10-06-15

According to TrendWatch, only 25 infrastructure funds have been launched this year compared to 46 at this same time in 2014 and 61 at the end of third quarter 2013.

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FundTracker TrendWatch 09-29-15

So far in 2015, 110 new real estate funds have launched, seeking an aggregate total of more than $50 billion. Of those funds, nearly 80 percent are focused on North America and Europe.

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FundTracker TrendWatch 09-22-15

Despite a dearth of traditional infrastructure deals (i.e. anything except energy), the United States continues to attract more than 60 percent of the infrastructure capital raised by funds closed since 2013.

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FundTracker TrendWatch 09-08-15

According to the Global Investment Managers 2015 survey, the top 20 real estate investment managers now control more than 50 percent of the total real estate AUM — and if trends continue, they’ll control even more next year as all firms in the top 10 have increased their AUM each year for the past two years.

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FundTracker TrendWatch 09-01-15

According to IREI's FundTracker database, infrastructure funds launched since 2013 have been highly successful in meeting their goals, with the total raise reaching 71% of the total target. Only 32% of those funds have held final closings, but of the closed funds, 66% were oversubscribed.

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FundTracker TrendWatch 08-25-15

According to data from FundTracker, 8 percent of the funds launched since 2013 have been sponsored by emerging managers. While the maximum fund size for funds launched by established managers is nearly 87 percent larger than the average emerging manager's fund size, most of the other data indicates that emerging managers are doing just as well as established managers when it comes to accessing capital.

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FundTracker TrendWatch 08-18-15

According to the IREI FundTracker, the number of infrastructure funds launched in first half 2015 has fallen by 39 percent compared to the number launched in first half 2014. The number of funds closed has also fallen, though the amount of capital raised has increased.

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FundTracker TrendWatch 08-11-15

According to the IREI FundTracker, the first half of 2015 is a bit mixed when compared to the first half 2014. Fewer funds launched in 1H15 than in 1H14, but more funds have closed this year than last. The amount of capital raised in the first half of 2015 is about 37 percent more than that raised in the same period in 2014.

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FundTracker TrendWatch 08-03-15

Energy funds have accounted for 57 percent of the total infrastructure funds launched and closed over the past three years, as measured by targeted and raised capital. And the attraction has increased each year, to the point that nearly all new funds launched in 2015 are energy focused. Where does this leave the other infrastructure sectors?

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FundTracker TrendWatch 07-27-15

Mega-funds are capturing a larger market share than ever before. They now account for about 14 percent of the funds closed but about 65 percent of the capital raised YTD 2015.

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FundTracker TrendWatch 07-20-15

Based on the infrastructure funds that have closed YTD 2015, the average fundraising period has fallen to less than a year. Americas-focused infrastructure funds closed in the shortest amount of time among the regions, while energy funds led the sectors.

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FundTracker TrendWatch 07-13-15

Based on the funds that have closed YTD 2015, the average time for a fund to be in the market is now a little less than 17 months, compared to a little more than 17 months for all of 2014. Global funds, debt funds and mega funds are finding the most acceptance.

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FundTracker TrendWatch 07-07-15

According to the IREI FundTracker database, the number of infrastructure funds launched during 2015 has slowed dramatically compared to previous years. The average fund size, however, remains well over $1 billion. To no one’s surprise, nearly all newly launched infrastructure funds are focused on the energy or renewables sector. For more details on what is going on in the market — and why investors are constantly in play, view the report.

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FundTracker TrendWatch 06-29-15

With real estate reaching pre-recession levels in the major gateway cities and moving in the right direction in secondary regions, it is safe to say that real estate is back, and with it, funds are seeing a strong resurgence. According to the IREI FundTracker database, there are at least 25 more funds being marketed now than there were in January. For more details on what is in the market — and why investors will undoubtedly find their phones ringing nonstop this year.

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