Private Equity Real Estate Firms Headquartered in Illinois

by Andrew Moylan

  • 25 Mar 2011
  • RE

There are 59 private equity real estate fund managers headquartered in Illinois, making it the fourth most significant US state in terms of real estate firms. These firms have raised an aggregate $32.1 billion through closed-end real estate funds over the past 10 years. The most successful year in terms of fundraising by Illinois-based firms was 2008, when 13 funds closed with commitments of $7.0 billion. 2009 saw 10 funds raise an aggregate $4.0 billion but 2010 was much slower in terms of fundraising, with four funds closing on $0.8 billion.

The largest Illinois-headquartered firms include LaSalle Investment Management, which has raised $10.6 billion for closed-end private equity real estate funds in the past 10 years. The firm manages a range of real estate funds investing across North America, Europe and Asia. Walton Street Capital has raised an aggregate $4.8 billion over the past 10 years, largely through its Walton Street Real Estate Fund series. The most recent fund in the series, Walton Street Real Estate Fund VI closed in 2009 with $2.0 billion in commitments. Transwestern Investment Company has raised $3.0 billion in the past 10 years, primarily for value added and real estate debt strategies. Heitman has raised $2.5 billion for its North America and Europe-focused funds.

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