The managers are India-based HDGC Property Ventures and Hong Kong-based Gaw Capital Partners, both of which have two funds in the top quartile, and CITIC Capital, which has three, according to Preqin’s league table.
Hong Kong based CITIC is a new entry this year. In fact, half of the 26 fund managers on the list are new entries, the research firm said.
Only two of the 20 largest global private equity real estate fund mangers appear on the list: New York-based Blackstone Group and Dallas-based Lone Star Funds.
Investor appetite for the asset class appears to be increasing. According to a Prequin survey of investors, 29% plan to commit more capital to the asset class in the next 12 months than they did over the previous 12 months.
In December 2013, the figure was 18%.
Actual capital committments are also up. In the past 12 months, private real estate fundraising rose 30% to $43bn for funds reaching final close in the first half this year, according to an August report by Preqin.
“The vast majority (82%) of fund managers surveyed by Preqin in June 2014 have seen a significant or slight increase in investor appetite in the last 12 months, with just 4% seeing a decrease in institutional appetite,” the report said.
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Private equity real estate managers that have most consistently outperformed their peers:
