Canada-Based Real Estate Fund Managers - March 2012.

by Jonathan Ma

  • 23 Mar 2012
  • RE

There are currently 28 fund managers headquartered in Canada and between them, they are marketing 14 funds with an aggregate target of $8.6bn. During the period 2005 – 2012, 32 funds closed raising a total of $13.6bn. The majority of Canada-headquartered firms are located in Ontario, with a total of 19 based in the province. Three fund managers are located in British Columbia and Alberta, two in Quebec and one in Saskatchewan.

Of the funds currently on the road, 12 are targeting North America, one is targeting Europe and another is Middle East-focused. The aggregate target of North America-focused funds is $7.2bn, while Realstar Group’s Realstar European Capital I is targeting €300mn and Brookfield Asset Management’s Dubai Real Estate Fund is targeting $1bn. There is a strong preference towards funds with a diversified property focus and there are currently 10 funds on the road targeting $4.1bn. Only four funds are targeting specific sectors however, the aggregate target is larger at $4.6bn.

The largest fund currently on the road, managed by a Canada-Headquartered firm, is Brookfield Strategic Real Estate Partners. Managed by Brookfield Asset Management, the fund is targeting $4bn and adopts an opportunistic strategy with a global geographic focus. Of the five largest real estate funds currently on the road managed by Canada-headquartered firms, a further two are being raised by Brookfield, Dubai Real Estate Fund targeting $1bn and Brookfield Real Estate Finance III targeting $500mn.

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