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Non-listed real estate funds draw 62.5% of capital raised for Asia-Pac vehicles

NON-LISTED real estate funds attracted 62.5 per cent of the US$23.5 billion in capital raised for Asia-Pacific vehicles last year, said a report on Tuesday.

According to the Capital Raising Survey 2015 by ANREV, INREV and NCREIF, globally, fund managers raised US$149.2 billion in the past year - representing a 12.6 per cent year-on-year increase.

ANREV is the Asian Association for Investors in Non-listed Real Estate Vehicles; INREV is the European Association for Investors in Non-listed Real Estate Vehicles; and NCREIF is the National Council of Real Estate Investment Fiduciaries.

The 2015 survey received responses from 142 fund managers across 23 countries.

Non-listed real estate funds continue to attract the majority of the private equity raised for real estate globally, standing at 53.7 per cent of total equity compared with 49 per cent in 2013.

Said Amelie Delaunay, director of research & professional standards, ANREV: "Globally, fund managers raised a significant amount of equity in 2014, an increase over two consecutive years. As seen in ANREV's Investor Intentions Survey 2015, the most popular products in Asia-Pacific are non-listed funds and joint ventures, and interestingly, in 2014, equity raised for these vehicles regionally was higher than the global figure."

"With 88.6 per cent of the respondents expecting an increase of capital raising activity in the next two years, we expect to see another increase in the amount raised in 2015," she added.