Top 25 Real Estate Hedge Funds 2023
2021 Top 25 Largest Real Estate Hedge Funds Overview
The 25 largest real estate hedge funds manage $450 billion in assets as of early 2023. Assets managed by the top 25 funds are up more than 50% since 2021. 76% of the top real estate hedge funds are based in the United States. while 32% of the largest real estate funds are based in New York.
With $81 billion in AUM, Cerberus Capital Management is the largest real estate hedge fund manager in 2023. Angelo Gordon and GoldenTree Asset Management rank two and three, respectively, among the biggest real estate hedge funds.
Real estate funds invest in residential and commercial real estate and land in a number of ways, but the most common is through real estate securities such as REITs. They also purchase properties and developments directly.
The below list of top real estate hedge funds includes hedge fund companies operating at least one hedge fund vehicle investing in real estate.
Top 25 Real Estate Hedge Funds 2023
List of the 25 biggest real estate hedge funds for 2023 ranked by assets under management (AUM)
Rank Fund Name City Country AUM ($ Millions) Strategies
1.0
Cerberus Capital Management
New York
United States
80,580.5
Credit, Real Estate, Private Equity
2.0
Angelo Gordon & Co.
New York
United States
74,642.3
Real Estate, Fixed Income, Managed Futures
3.0
GoldenTree Asset Management
New York
United States
51,980.4
Credit, Absolute Returns, Real Estate
4.0
Farallon Capital Management
San Francisco
United States
42,196.4
Multi Strategy, Arbitrage, Real Estate
5.0
Oaktree Capital Management
Los Angeles
United States
38,350.0
Fixed Income, Real Estate, Distressed Assets
6.0
Cheyne Capital
London
United Kingdom
27,888.9
Real Estate, Fixed Income, Long/Short
7.0
LaSalle Investment Management
Chicago
United States
21,439.6
Real Estate
8.0
CarVal Investors
Minneapolis
United States
18,305.1
Fixed Income, Real Estate
9.0
Rockpoint Group
Boston
United States
15,121.7
Real Estate
10.0
Lazard Alternatives
New York
United States
14,120.0
Multi Strategy, Real Estate, Long/Short
11.0
Rockwood Capital
San Francisco
United States
8,132.2
Real Estate
12.0
La Française Global Investment Solutions
Paris
France
7,620.0
Credit, Event Driven, Real Estate
13.0
Avenue Capital Group
New York
United States
7,215.4
Real Estate, Fixed Income, Managed Futures
14.0
Gordian Capital
Singapore
Singapore
6,693.2
Fund of Funds, Long/Short, Real Estate
15.0
Sagard Holdings Manager LP
Toronto
Canada
6,536.3
Multi-Strategy, Credit, Real Estate
16.0
Contrarian Capital Management
Greenwich
United States
4,979.6
Multi Strategy, Distressed Assets, Real Estate
17.0
Guggenheim Capital Markets
New York
United States
4,640.9
Multi Strategy, Fixed Income, Real Estate
18.0
Stockbridge
San Francisco
United States
3,810.5
Real Estate
19.0
Avanath Capital Management, LLC
Irvine
United States
2,924.6
Real Estate
20.0
Hazelview Securities Inc.
Toronto
Canada
2,658.1
Real Estate
21.0
Emmes Asset Management
New York
United States
2,616.6
Real Estate
22.0
Toscafund Asset Management
London
United Kingdom
2,343.5
Long/Short, Event Driven, Real Estate
23.0
Dune Real Estate Partners
New York
United States
2,262.5
Real Estate
24.0
Blue Vista Capital Partners
Chicago
United States
1,697.0
Real Estate
25.0
Equity Resource Investments
Cambridge
United States
1,410.2
Real Estate
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Key Stats on Top 25 Real Estate Hedge Funds – 2023
19 of the top 25 real estate hedge fund managers are based in the United States (76%)
Just 3 of the top 25 real estate hedge funds for 2023 are based in Europe (12%)
8 of the 25 largest real estate funds for 2023 are based in New York (42%)
The top 25 real estate hedge fund companies have $450.1 billion USD in assets under management (AUM)
The average AUM of the top 25 real estate funds for 2023 is $18 billion USD
The median AUM of the top 25 real estate hedge funds for 2023 is $7.2 billion USD
Get the full list of all real estate hedge funds in Excel format
The Real Estate Hedge Fund List has 40 categories of detailed information on all the funds above plus nearly 400 additional real estate funds. Everything from website to emails to senior staff, hiring status, number of clients and more is included. And it’s delivered in Excel format for easy use with any spreadsheet program or contact management system.
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