With only $19.8bn raised, the first quarter of 2024 recorded the lowest Q1 fundraising amount since 2011 when $15.2bn was corralled.
Fundraising for Alterra IOS Venture III was completed within eight months, well ahead of the average time managers are in the market raising their funds.
The South Carolina-based manager has raised $1.9bn for the latest iteration in its flagship multifamily fund series.
In just over a year, the manager has raised €600m to invest in student accommodation assets across Southern Europe.
At a size of $1.4bn, ACORE Credit Partners II is also the joint fourth-largest private real estate fund closed globally so far this year.
The vehicle represents the firm's only real estate fund launch in the near term as it sits on $12bn of dry powder for the asset class.
The New York-based mega-manager is now approaching its target for the vehicle, bolstered by a pickup in European real estate opportunities.
Heim Global Investor is targeting a combined €1.6bn capital raise across its first two funds, one aimed at the UK and the other Europe.
NorthBridge's NB Partners Fund IV surpassed its target of $800m, and capital has been deployed to acquire 20 assets so far.
While its debut fund was backed mainly by family offices, the firm saw significant institutional support for Catalyst IOS Fund II.
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