Private Equity Real Estate Fundraising in Texas

by Andrew Moylan

  • 25 Jun 2010
  • RE

Texas is an important state for private equity real estate fund managers. The 44 firms located in the state have raised an aggregate $50.7 billion for private equity real estate investments in the last 10 years.

In terms of fundraising, the most successful year was 2008, when 15 funds raised an aggregate $15.5 billion. Lone Star Fund VI and Lone Star Real Estate Fund I accounted for $7.5 billion and $2.5 billion of the total respectively. There was a significant decline in the amount of capital raised in 2009 however. Just three funds managed by Texas-headquartered firms reached a final close, raising $340 million.

Lone Star Funds has been the most successful Texas-headquartered firm in the fundraising market. In the last 10 years it has raised $24.2 billion. Rockpoint Group has raised an aggregate $6.4 billion, including raising $2.5 billion for Rockpoint Real Estate Fund III. Hines has raised an aggregate $4.2 billion for a range of funds targeting North America, Europe, South America and Asia. Invesco Real Estate has raised an aggregate $3.6 billion.

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