A total of 23 private-equity real estate funds recorded final closings during third quarter 2016, raising an aggregate total of $17.4 billion, according to IREI’s FundTracker database. This represents $8.0 billion less than was raised in third quarter 2015, and two fewer funds. In third quarter 2014, 27 funds closed with an aggregate total of $22.3 billion in commitments.

A total of 40 new investment funds were launched during third quarter 2016, bringing the 2016 year-to-date total to 128 new funds. As a group, the third quarter funds are seeking to raise approximately $19 billion.