PERE 100 / 200 2023

Rank Firm Five-year fundraising total ($m) Headquarters 1 Blackstone 72,134 New York 2 Brookfield Asset Management 35,359 Toronto 3 Starwood Capital Group 20,134 Miami Beach 4 GLP Capital Partners 19,883 Singapore 5 BentallGreenOak 18,245 New York 6 Ares Management 16,545 Los Angeles 7 KKR 15,779 New York 8 ESR 15,271 Hong Kong 9 Cerberus Capital Management 15,213 New York 10 EQT Exeter 14,768 Philadelphia 11 The Carlyle Group 14,528 Washington, DC 12 Angelo Gordon 14,127 New York 13 Hines 13,554 Houston 14 AEW 12,965 Boston 15 Oak Street 12,591 Chicago 16 Bridge Investment Group 12,113 Salt Lake City 17 Tishman Speyer 12,011 New York 18 Gaw Capital Partners 11,569 Hong Kong 19 Pretium Partners 11,563 New York 20 Rockpoint 10,900 Boston 21 TPG 10,500 Fort Worth 22 Aermont Capital 10,305 London 23 CBRE Investment Management 9,841 New York 24 Bain Capital 9,752 Boston 25 LaSalle Investment Management 9,019 Chicago 26 Greystar Real Estate Partners 8,929 Charleston 27 Goldman Sachs Asset Management 8,894 New York 28 Crow Holdings Capital 8,504 Dallas 29 Sino-Ocean Capital 7,350 Beijing 30 NREP 6,963 Copenhagen 31 Harrison Street Real Estate Capital 6,950 Chicago 32 DNE 6,453 Shanghai 33 PAG 6,368 Hong Kong 34 Tristan Capital Partners 6,209 London 35 AXA IM Alts 6,179 Paris 36 Lone Star Funds 6,170 Dallas 37 Invesco Real Estate 6,165 Dallas 38 Henderson Park Capital Partners 5,942 London 39 StepStone Group 5,873 New York 40 Tricon Residential 5,728 Toronto 41 Mapletree 5,707 Singapore 42 Fortress Investment Group 5,557 New York 43 Harbor Group International 5,480 Norfolk 44 Artemis Real Estate Partners 5,363 Chevy Chase 45 PGIM Real Estate 5,333 Madison 46 Nuveen Real Estate 5,199 London 47 Apollo Global Management 5,169 New York 48 IPI Partners 4,869 Chicago 49 Oaktree Capital Management 4,771 Los Angeles 50 Almanac Realty Investors 4,585 New York 51 Kayne Anderson Capital Advisors 4,400 Los Angeles 52 CIM Group 4,318 Los Angeles 53 Partners Group 4,274 Baar-Zug 54 CapitaLand Investment 4,074 Singapore 55 JPMorgan Asset Management 4,032 New York 56 Heitman 4,007 Chicago 57 Schroders Capital 3,990 London 58 DRA Advisors 3,903 New York 59 Keppel Capital 3,900 Singapore 60 Westbrook Partners 3,897 New York 61 Waterton 3,825 Chicago 62 DivcoWest 3,756 San Francisco 63 Warburg Pincus 3,720 New York 64 Centerbridge Partners 3,628 New York 65 Rockwood Capital 3,503 New York 66 GTIS Partners 3,365 New York 67 BlackRock Real Estate 3,340 New York 68 Enterprise Community Partners 3,336 Columbia 69 Related Fund Management 3,317 New York 70 Pictet Alternative Advisors SA 3,256 Geneva 71 Prime Group Holdings 3,219 Saratoga Springs 72 Sculptor Capital Management 3,215 New York 73 Morgan Stanley Real Estate Investing 3,102 New York 74 Harbert Management Corporation 2,977 Birmingham 75 Azora 2,971 Madrid 76 Carmel Partners 2,824 San Francisco 77 PCCP 2,800 Los Angeles 78 CrossHarbor Capital Partners 2,792 Boston 79 Abacus Capital Group 2,768 New York 80 RoundShield Partners 2,506 St Helier 81 Berkshire Residential Investments 2,478 Boston 82 TA Realty 2,476 Boston 83 Kennedy Wilson 2,407 Beverly Hills 84 FPA Multifamily 2,400 San Francisco 85 American Landmark Apartments 2,372 Tampa 86 Patrizia 2,365 Augsburg 87 Asana Partners 2,300 Charlotte 88 Ardian 2,296 Paris 89 FCP 2,237 Chevy Chase 90 Bell Partners 2,150 Greensboro 91 Beacon Capital Partners 2,139 Boston 92 HIG Realty 2,133 Miami 93 Pennybacker Capital 2,101 Austin 94 Areim 2,101 Stockholm 95 Barings 2,091 Charlotte 96 Wheelock Street Capital 2,010 Greenwich 97 Prologis 1,983 San Francisco 98 LCN Capital Partners 1,973 New York 99 Corebridge Real Estate Investors 1,900 New York 100 DLE Group 1,851 Berlin 101 NIAM 1,850 Stockholm 102 Dermody Properties 1,830 Reno 103 Walton Street Capital 1,785 Chicago 104 Covenant Capital Group 1,743 Nashville 105 IGIS Asset Management 1,726 Seoul 106 Stonelake Capital Partners 1,722 Austin 107 JEN Partners 1,718 New York 108 Hackman Capital Partners 1,703 Culver City 109 Prospect Ridge 1,698 New York 110 Momeni Investment Management 1,683 Hamburg 111 Westport Capital Partners 1,675 Stamford 112 Cresset Partners 1,672 Chicago 113 Patron Capital Partners 1,660 London 114 SC Capital Partners 1,580 Singapore 115 Phoenix Property Investors 1,575 Hong Kong 116 Ascentris 1,558 Denver 117 Europa Capital 1,551 London 118 The Davis Companies 1,546 Boston 119 Empira 1,539 Zug 120 Realterm 1,536 Annapolis 121 Cabot Properties 1,530 Boston 122 Equus Capital Partners 1,525 Newtown Square 123 Noble Investment Group 1,510 Atlanta 124 Canyon Partners Real Estate 1,500 Dallas 125 COIMA SGR 1,478 Milan 126 Praedium Group 1,473 New York 127 Spear Street Capital 1,450 San Francisco 128 ActivumSG 1,429 Berlin 129 Fundamental Advisors 1,425 New York 130 Griffis Residential 1,419 Greenwood Village 131 HighBrook Investors 1,410 New York 132 LBA Realty 1,405 Irvine 133 Southwest Value Partners 1,396 San Diego 134 Banner Oak Capital Partners 1,390 Dallas 135 PIMCO Prime Real Estate 1,381 Newport Beach 136 Cortland 1,367 Atlanta 137 Rethink Capital Partners 1,359 New York 138 Hony Capital 1,347 Beijing 139 Hemisferio Sul Investimentos 1,347 São Paulo 140 Signal Capital Partners 1,335 London 141 Dune Real Estate Partners 1,319 New York 142 Mesirow 1,317 Chicago 143 Slate Asset Management 1,301 Toronto 144 PineBridge Benson Elliot 1,252 London 145 Phoenix Capital Management 1,233 Addison 146 Pantzer Properties 1,231 New York 147 Lubert-Adler Real Estate Funds 1,209 Philadelphia 148 Tikehau Capital 1,207 Paris 149 Northbridge Partners 1,195 Wakefield 150 Whitman Peterson 1,184 Westlake Village 151 Stream Realty 1,182 Dallas 152 Osso Capital 1,181 New York 153 Elite Partners Capital 1,177 Singapore 154 Rialto Capital Management 1,139 Miami 155 Yoo Capital 1,139 London 156 LimeTree Capital 1,138 Hong Kong 157 Avanath Capital Management 1,122 Irvine 158 Argosy Capital 1,111 Wayne 159 Azure Capital Partner 1,100 Shanghai 160 MDH Partners 1,100 Atlanta 161 Woodbourne Capital Management 1,077 Toronto 162 Mill Creek Capital Advisors 1,077 Conshohocken 163 ICAMAP 1,068 Luxembourg 164 BC Partners 1,067 London 165 Griffin Capital 1,045 El Segundo 166 Longpoint Realty Partners 1,044 Boston 167 CapRock Partners 1,035 Newport Beach 168 The Arden Group 1,031 Philadelphia 169 Gohigh Capital 1,019 Beijing 170 Marcus Partners 1,010 Boston 171 JRK Property Holdings 981 Los Angeles 172 RockBridge 975 Columbus 173 Blue Vista Capital Management 944 Chicago 174 Principal Asset Management 942 Des Moines 175 Stockbridge 917 San Francisco 176 Belay Investment Group 900 Los Angeles 177 MCR Hotels 897 New York 178 Arc70 Capital 896 San Francisco 179 Elion Partners 890 Miami 180 Iron Point Partners 885 Washington, DC 181 M7 Real Estate 884 London 182 Taconic Capital 879 New York 183 Chelsfield 879 London 184 Sares Regis Multifamily Funds 877 Newport Beach 185 Affinius Capital 848 San Antonio 186 Atlas Capital Group 844 New York 187 Macquarie Asset Management 837 Sydney 188 CITIC Capital 837 Hong Kong 189 IMT Capital 825 Sherman Oaks 190 Singerman Real Estate 815 Chicago 191 The BlackChamber Group 813 Washington, DC 192 The Milestone Group 810 Dallas 193 Bow River Capital 799 Denver 194 Equity Resource Investments 785 Cambridge 195 IndoSpace 785 Mumbai 196 LEM Capital 782 Philadelphia 197 Lionstone Investments 780 Houston 198 The Ardent Companies 779 Atlanta 199 BKM Capital Partners 773 Newport Beach 200 Penwood Real Estate Investment Management 772 West Hartford