PERE 100 2021

Rank / Manager / Capital Raised ($m) / Headquarters

1 Blackstone / 49,941 / New York

2 Brookfield Asset Management / 28,164 / Toronto

3 Starwood Capital Group / 18,272 / Miami Beach

4 AEW / 14,380 / Boston

5 BentallGreenOak / 11,881 / New York

6 Lone Star Funds / 11,315 / Dallas

7 Rockpoint Group / 10,869 / Boston

8 Cerberus Capital Management / 10,678 / New York

9 GLP / 10,202 / Singapore

10 Angelo Gordon / 10,196 / New York

11 KKR / 9,673 / New York

12 Gaw Capital Partners / 9,470 / Hong Kong

13 CBRE / 8,456 / Los Angeles

14 Oaktree Capital Management / 8,264 / Los Angeles

15 Ares Management / 7,990 / Los Angeles

16 PAG / 7,950 / Hong Kong

17 PGIM Real Estate / 7,950 / Madison

18 Apollo Global Management / 7,878 / New York

19 Bridge Investment Group / 7,748 / Salt Lake City

20 Tishman Speyer / 7,711 / New York

21 AXA IM Alts / 7,646 / Paris

22 Exeter Property Group / 7,347 / Philadelphia

23 Oak Street Real Estate Capital / 7,107 / Chicago

24 Bain Capital / 7,104 / Boston

25 Westbrook Partners / 6,747 / New York

26 LaSalle Investment Management / 6,733 / Chicago

27 The Carlyle Group / 6,700 / Washington DC

28 Partners Group / 6,137 / Zug

29 Harrison Street Real Estate Capital / 5,468 / Chicago

30 Invesco Real Estate / 5,305 / New York

31 ESR / 5,258 / Hong Kong

32 Morgan Stanley Real Estate Investing / 5,122 / New York

33 Rialto Capital Management / 4,858 / Miami

34 CIM Group / 4,817 / Los Angeles

35 StepStone Group / 4,792 / New York

36 BlackRock Real Estate / 4,646 / New York

37 Pacific Investment Management Co. / 4,600 / Newport Beach

38 Fortress Investment Group / 4,522 / New York

39 Crow Holdings Capital / 4,200 / Dallas

40 Aermont Capital / 4,134 / London

41 NREP / 4,084 / Copenhagen

42 DRA Advisors / 4,005 / New York

43 Hines / 3,977 / Houston

44 Divco West Real Estate Services / 3,935 / San Francisco

45 Heitman / 3,738 / Chicago

46 TPG Real Estate Partners / 3,700 / San Francisco

47 Greystar Real Estate Partners / 3,432 / Charleston

48 IPI Partners / 3,410 / Chicago

49 PATRIZIA / 3,300 / Augsburg

50 Henderson Park Capital Partners / 3,300 / London

51 Keppel Capital / 3,300 / Singapore

52 Square Mile Capital Management / 3,208 / New York

53 Prologis / 3,103 / San Francisco

54 Sculptor Capital Management / 3,000 / New York

55 Banner Oak Capital Partners / 3,000 / Dallas

56 Almanac Realty Investors / 2,813 / New York

57 KSL Capital Partners / 2,684 / Denver

58 Tricon Residential / 2,660 / Toronto

59 Harbert Management Corporation / 2,627 / Birmingham

60 Kayne Anderson Real Estate / 2,575 / Boca Raton

61 Waterton / 2,548 / Chicago

62 GTIS Partners / 2,535 / New York

63 Artemis Real Estate Partners / 2,462 / Chevy Chase

64 Ardian / 2,227 / Paris

65 NIAM / 2,120 / Stockholm

66 Kildare Partners / 2,102 / Hamilton

67 Related Companies / 2,074 / New York

68 TA Realty / 2,057 / Boston

69 Rockwood Capital / 2,036 / New York

70 D&J China / 2,028 / Shanghai

71 PCCP / 2,004 / Los Angeles

72 EQT / 2,000 / Stockholm

73 Bell Partners / 1,975 / Greensboro

74 Cabot Properties / 1,950 / Boston

75 Patron Capital Partners / 1,949 / London

76 Canyon Partners / 1,900 / Los Angeles

77 Tristan Capital Partners / 1,891 / London

78 Beacon Capital Partners / 1,823 / Boston

79 Prospect Ridge / 1,820 / New York

80 Orion Capital Managers / 1,785 / London

81 Walton Street Capital / 1,783 / Chicago

82 Baring Private Equity Asia / 1,758 / Hong Kong

83 Kennedy Wilson / 1,707 / Beverly Hills

84 Wheelock Street Capital / 1,675 / Greenwich

85 HIG Realty / 1,650 / Miami

86 PineBridge Benson Elliot / 1,640 / London

87 Enterprise Community Partners / 1,636 / Columbia

88 Westport Capital Partners / 1,600 / Stamford

89 MARK / 1,577 / London

90 Abacus Capital Group / 1,560 / New York

91 Pennybacker Capital / 1,560 / Austin

92 Europa Capital / 1,543 / London

93 COIMA SGR / 1,536 / Milan

94 Paramount Group / 1,532 / New York

95 Algebris Investments / 1,515 / London

96 Blue Vista Capital Management / 1,473 / Chicago

97 Schroder Real Estate Investment Management / 1,466 / London

98 IMT Capital / 1,455 / Sherman Oaks

99 Spear Street Capital / 1,450 / San Francisco

100 JPMorgan Asset Management / 1,448 / New York