Top 25 Largest Real Estate Hedge Funds – 2021
The 25 largest real estate hedge funds manage $286.8 billion in assets as of early 2021. 84% of the top real estate hedge funds are based in the United States. 32% of the largest real estate funds are based in New York.
With $61 billion in AUM, Cerberus Capital Management is the largest real estate hedge fund manager in 2021. Angelo Gordon and Oaktree Capital Management rank two and three, respectively, among the biggest real estate hedge funds.
Real estate funds invest in residential and commercial real estate and land in a number of ways, but the most common is through real estate securities such as REITs.
The below list of top real estate hedge funds includes hedge fund companies operating at least one hedge fund vehicle investing in real estate.
Top 25 Largest Real Estate Hedge Funds – 2021
Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Fund Name | City | Country | AUM | Strategy |
|---|---|---|---|---|---|
| 1.0 | Cerberus Capital Management | New York | United States | 61,347.7 | Credit, Real Estate, Private Equity |
| 2.0 | Angelo Gordon & Co. | New York | United States | 56,276.9 | Real Estate, Fixed Income, Managed Futures, Multi Strategy |
| 3.0 | Oaktree Capital Management | Los Angeles | United States | 38,350.0 | Fixed Income, Real Estate, Distressed Assets |
| 4.0 | Almanac Realty Investors, LLC | New York | United States | 24,546.1 | Real Estate |
| 5.0 | CarVal Investors | Minneapolis | United States | 15,734.0 | Fixed Income, Real Estate |
| 6.0 | LaSalle Investment Management | Chicago | United States | 14,321.1 | Real Estate |
| 7.0 | Brummer and Partners | Stockholm | Sweden | 14,200.0 | Long/Short, Multi Strategy, Global Macro, Managed Futures |
| 8.0 | Lazard Alternatives | New York | United States | 14,120.0 | Multi Strategy, Real Estate, Long/Short |
| 9.0 | Rockpoint Group | Boston | United States | 12,879.6 | Real Estate |
| 10.0 | Rockwood Capital | San Francisco | United States | 8,218.7 | Real Estate |
| 11.0 | Guggenheim Capital Markets | New York | United States | 4,640.9 | Multi Strategy, Fixed Income, Real Estate |
| 12.0 | Stockbridge | San Francisco | United States | 3,931.5 | Real Estate |
| 13.0 | Blue Ridge Capital | Atlanta | United States | 2,880.9 | Real Estate |
| 14.0 | Contrarian Capital Management | Greenwich | United States | 2,755.2 | Multi Strategy, Distressed Assets, Real Estate, Emerging Markets |
| 15.0 | Dune Real Estate Partners | New York | United States | 2,747.2 | Real Estate |
| 16.0 | Cheyne Capital | London | United Kingdom | 2,007.9 | Real Estate, Fixed Income, Long/Short, Convertibles |
| 17.0 | Avanath Capital Management, LLC | Irvine | United States | 1,896.9 | Real Estate |
| 18.0 | Blue Vista Capital Partners | Chicago | United States | 1,704.6 | Real Estate |
| 19.0 | Aether Investment Partners | Denver | United States | 1,222.8 | Real Estate, Commodities, Fund of Funds |
| 20.0 | Avenue Capital Group | New York | United States | 898.2 | Real Estate, Fixed Income, Managed Futures |
| 21.0 | Gordian Capital | Singapore | Singapore | 688.5 | Fund of Funds, Long/Short, Global Macro, Real Estate |
| 22.0 | Farallon Capital Management | San Francisco | United States | 505.4 | Multi Strategy, Arbitrage, Real Estate |
| 23.0 | Equity Resource Investments | Cambridge | United States | 403.0 | Real Estate |
| 24.0 | Toscafund Asset Management | London | United Kingdom | 289.0 | Long/Short, Event Driven, Real Estate, Credit |
| 25.0 | GoldenTree Asset Management | New York | United States | 282.6 | Credit, Absolute Returns, Real Estate |
Key Statistics
- The 25 largest real estate hedge funds manage $286.8 billion in assets as of early 2021. 84% of the top real estate hedge funds are based in the United States. 32% of the largest real estate funds are based in New York.
- With $61 billion in AUM, Cerberus Capital Management is the largest real estate hedge fund manager in 2021. Angelo Gordon and Oaktree Capital Management rank two and three, respectively, among the biggest real estate hedge funds.
- 3 of the top 25 real estate hedge funds for 2021 are based in Europe (12%)
- 8 of the 25 largest real estate funds for 2021 are based in New York (42%)
- The top 25 real estate hedge fund companies have $286.8 billion USD in assets under management (AUM)
- The average AUM of the top 25 real estate funds for 2021 is $11.5 billion USD
- The median AUM of the top 25 real estate hedge funds for 2021 is $2.9 billion USD
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