I haven't seen it posted here and I used to post them annually, so here it is - the 2015 real estate private equity rankings, made up of all the names you would expect. Still, there are some newcomers (Greystar, Almanac) and a couple of big falls and rises. If nothing else, it's good to keep up with and fantastic for finding places to apply to.
| Attachment | Size |
|---|---|
| PERE 50.pdf 1.11 MB | 1.11 MB |
| +82 | LP coming into deal at higher land basis. How to model returns to GP? | 18 | 22h | |
| +76 | Increasing RE Industry's Cash Compensation, Collectively | 43 | 22h | |
| +73 | Major Decisions | 13 | 1d | |
| +28 | Niche down to an operator or stay an allocator | 9 | 3d | |
| +24 | Breaking into CRE late 20s | 7 | 4d | |
| +23 | Thoughts on joining an early-stage REPE fund | 7 | 21h | |
| +22 | Self Storage ECRI | 9 | 3d | |
| +20 | Doom Loop or Creative Urban Reemergence? | 3 | 6d | |
| +19 | How to get good at RE Modelling? | 16 | 11h | |
| +18 | 3 Hour Condo/Rental Excel Test - What Can Be Expected | 2 | 4d |
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Cool. Thanks.
It's a pretty solid site. I wish I had thousands of dollars to pay for a full membership, but alas haha.
Thanks
Dat 1st place-to-2nd place delta...Holy shit Blackstone
Jonathan Gray is a beast
Stole the words from my mouth
The amazing thing about Blackstone from an outsider's prospective is the economy of scale issues. How many 500M+ portfolio's of properties are out there at any given time for them to take down? I guess enough to satisfy the pipeline.
This great info, thanks.
"Capital raised ($bn)". Should be $mn, unless Blackstone is it's own first-world country. Somebody fire that analyst.
I was thinking that too
shouldn't Morgan Stanley be on here?
prime property fund an open-ended fund. Open-ended core funds aren't included in the list. At least that was my understanding
Thanks for posting!
In the Exec Summary they say no banks made this year's list. Does anyone know why? Don't some banks still manage large funds, or were the sold/made separate entities?
I'm currently at a bb, and we def are investing equity, but are not PE. But DB, JP Morgan, GS - do they not manage funds too? I'm pretty sure they were on the list in the past.
It's based on equity raised. Banks were pummeled during the downturn and have yet to recover
Okay follow up question; why were they pummeled worse than other funds? Were banks more exposed, and PE funds, for the most part, expanded portfolios because there were so many distressed assets?
The ranking measures equity raised in the last few years - MS and GS funds got crushed in the downturn and my understanding is that they have not raised new funds since. MS just raised $400M for fund 8 but nowhere near as large as previous funds nor enough to make the list.
ohhh, okay. makes sense. thanks
Thank you! This is essentially my client priority list lol Blackstone deals always come first
The PERE Top 50 Private Equity Real Estate Groups (Originally Posted: 09/27/2013)
Here you go, PERE Top 50 Private Equity Real Estate Groups of 2013
2013 Rank | Name of Firm | Capital Raised ($bn)
Source: http://www.perenews.com/
Same names, but some big movements. Many funds are raising big equity.
Ya I agree. Some highlights:
15 of the 50 are newcomers to the list, including 18. CapitaLand, 21. Oaktree, and 25. Perella Weinberg.
Starwood jumped from 12 to 2, LaSalle jumped from 10 to 5, and Brookfield jumped from 23 to 9. Beacon fell from 8 to 28, Hines from 22 to 37, Morgan Stanley from 2 to 11.
Damn, it's tight between 2-7
What blows me away, even know I know how big they are, is how dramatically ahead of EVERYONE Jon Grey is at #1. They're 4x ahead of Starwood at #2. FOUR TIMES!
Blackstone's target for their Euro fund alone would be number 34.
Some on the list are not what I would consider REPE, but more like traditional real estate investors and developers, like Brookfield, Tishman Speyer and also Capitalland which develops large commercial properties esp malls in Asia.
True there are some not "pure" REPE guys, but that capital raise for Brookfield is an opportunity/value fund, and it's not part of the REIT. TS is private equity, but I'd expect mostly for construction obviously.
In this case, the list is for PE moneys, and even the operators raise equity capital in a similar x/xx% format (TS, Hines, Vornado, etc.)
Blackstone as a corporation = BSD
I guess Blackstone ate Morgan Stanley's lunch.
2011- BX: $21B MSRE: $15B
2013- BX:$32B MSRE: $5B
Can't believe how many of these firms have Atlanta offices.
PERE Top 50 2014 (Originally Posted: 05/07/2014)
The new list was just released. If someone has access to it...can you PM me? I don't want to wait until tomorrow to check. Thanks.
Sent
Anyway I can get a copy of this report as well? I don't have enough banana points to PM. Thanks.
just got the email. Can you send it to me too pe_re24? thx
2014 Rank | Name of Firm | Capital Raised ($bn) | 2013 Rank
1 The Blackstone Group $32.129 1 2 Lone Star Funds $12.500 3 3 Starwood Capital Group $8.661 2 4 Colony Capital $7.454 4 5 Brookfield Asset Management $6.928 9 6 Tishman Speyer $5.757 6 7 Angelo, Gordon & Co $4.606 15 8 Westbrook Partners $4.532 13 9 Oaktree Capital Mangement $4.496 21 10 Global Logistic Properties $4.400 – 11 Walton Street Capital $4.189 23 12 GI Partners $3.524 38 13 Orion Capital Managers $3.523 29 14 The Carlyle Group $3.434 7 15 Fortress Investment Group $3.159 19 16 TA Associates Realty $3.055 20 17 CapitaLand $2.895 18 18 Cerberus Capital Management $2.650 39 19 LaSalle Investment Management $2.557 5 20 Beacon Capital Partners $2.541 28 21 Hines $2.471 37 22 Northwood Investors $2.381 24 23 Rockpoint Group $2.330 34 24 Prudential Real Estate Investors $2.315 16 25 GTIS Partners $2.287 40 26 Ares Management (fka AREA Property Partners) $2.214 14 27 KSL Capital Partners $2.211 32 28 Secured Capital $2.207 61 29 Rialto Capital Management $2.130 – 30 DRA Advisors $2.100 31 31 Merlone Geier Partners $1.879 – 32 Paramount Group $1.853 – 33 CBRE Global Investors $1.809 12 34 Perella Weinberg Partners $1.747 25 35 Hemisferio Sul Investimentos $1.700 36 36 Alpha Investment Partners $1.653 30 37 Gaw Capital Partners $1.628 84 38 Harrison Street Real Estate Capital $1.602 46 39 Kayne Anderson Capital Advisors $1.601 48 40 Phoenix Property Investors $1.562 68 41 Kildare Partners $1.500 – 42 DivcoWest $1.493 75 43 Patron Capital $1.407 60 44 Mapletree Investments $1.400 59 45 GreenOak Real Estate $1.398 – 46 Heitman $1.351 89 47 GE Capital Real Estate $1.348 47 48 The JBG Companies $1.329 53 49 Related Companies $1.325 54 50 Tristan Capital Partners $1.300 –
TOTAL EQUITY RAISED SINCE 2009 $176.519
JBG comin in HOT
That kind of surprised me. They are best-in-class though.
Lone Star, Angelo Gordon, Oaktree and Global Logistic Properties making moves.
Lone Star is on fire. Since 2010 these guys have raised between their real estate funds and distressed commercial debt funds: $22.0 billion. This isn't even including the $12 billion they are currently raising.
Does Global Logistic Properties (GLP) really qualify as PERE? These guys are ridiculous btw.
Its a publicly traded company
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