Quilvest, which manages a number of private equity fund of funds, launched its first real estate fund of funds at the start of 2009. Through QS REP, Quilvest invests primarily with experienced small and mid-sized opportunistic fund managers. The fund has raised USD 176 million of its USD 200 million target and has committed to two underlying funds to date. Quilvest plans to make a further 10 investments in the coming 12 months.
Three real estate fund of funds have reached a final close so far in 2009, receiving total commitments of $700 million. There are a further 34 fund of funds on the road, seeking equity commitments of $9.7 billion.
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