Top 25 Largest Real Estate Hedge Funds – 2024
The 25 largest real estate hedge funds manage $554 billion in assets as of 2024. Assets managed by the top 25 funds are up more than 20% since 2023. 76% of the top real estate hedge funds are based in the United States. while 36% of the largest real estate funds in the world are based in New York.
With $87 billion in AUM, Cerberus Capital Management is the largest real estate hedge fund manager in 2024. Angelo Gordon and Sculptor 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. 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 Largest Real Estate Hedge Funds – 2024
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 | 86,966.0 | Credit, Real Estate |
| 2.0 | Angelo Gordon & Co. | New York | United States | 82,071.0 | Real Estate, Fixed Income |
| 3.0 | Sculptor Capital Management | New York | United States | 42,792.0 | Multi-Strategy, Real Estate |
| 4.0 | Farallon Capital Management | San Francisco | United States | 42,554.0 | Multi Strategy, Arbitrage, Real Estate |
| 5.0 | GoldenTree Asset Management | New York | United States | 38,988.0 | Credit, Absolute Returns, Real Estate |
| 6.0 | Oaktree Capital Management | Los Angeles | United States | 38,350.0 | Fixed Income, Real Estate |
| 7.0 | Cheyne Capital | London | United Kingdom | 29,729.0 | Real Estate, Fixed Income |
| 8.0 | TCI Fund Management | London | United Kingdom | 26,500.0 | Long/Short, Real Estate |
| 9.0 | Gopher Asset Management | Shanghai | China | 21,200.0 | Fund of Funds, Private Equity, Real Estate |
| 10.0 | CarVal Investors | Minneapolis | United States | 19,967.0 | Fixed Income, Real Estate |
| 11.0 | Stockbridge | San Francisco | United States | 19,542.0 | Real Estate |
| 12.0 | Guggenheim Capital Markets | New York | United States | 19,206.0 | Multi Strategy, Fixed Income, Real Estate |
| 13.0 | Lazard Alternatives | New York | United States | 14,120.0 | Multi Strategy, Real Estate |
| 14.0 | Rockpoint Group | Boston | United States | 13,519.0 | Real Estate |
| 15.0 | Rockwood Capital | San Francisco | United States | 10,910.0 | Real Estate |
| 16.0 | LaSalle Investment Management | Chicago | United States | 10,457.0 | Real Estate |
| 17.0 | La Française Global Investment Solutions | Paris | France | 7,620.0 | Credit, Event Driven, Real Estate |
| 18.0 | Avenue Capital Group | New York | United States | 7,495.0 | Real Estate, Fixed Income |
| 19.0 | Sagard Holdings Manager LP | Toronto | Canada | 5,396.0 | Multi-Strategy, Credit, Real Estate |
| 20.0 | Contrarian Capital Management | Greenwich | United States | 4,171.0 | Multi Strategy, Distressed Assets, Real Estate |
| 21.0 | Avanath Capital Management, LLC | Irvine | United States | 3,832.0 | Real Estate |
| 22.0 | Dune Real Estate Partners | New York | United States | 2,361.0 | Real Estate |
| 23.0 | Blue Ridge Capital | Atlanta | United States | 2,236.0 | Real Estate |
| 24.0 | Toscafund Asset Management | London | United Kingdom | 2,053.0 | Long/Short, Event Driven, Real Estate |
| 25.0 | Emmes Asset Management | New York | United States | 1,985.0 | Real Estate |
Key Statistics
- The 25 largest real estate hedge funds manage $554 billion in assets as of 2024. Assets managed by the top 25 funds are up more than 20% since 2023. 76% of the top real estate hedge funds are based in the United States. while 36% of the largest real estate funds in the world are based in New York.
- With $87 billion in AUM, Cerberus Capital Management is the largest real estate hedge fund manager in 2024. Angelo Gordon and Sculptor Capital Management rank two and three, respectively, among the biggest real estate hedge funds.
- 19 of the top 25 real estate hedge fund managers are based in the United States (76%)
- Just 4 of the top 25 real estate hedge funds for 2024 are based in Europe (16%)
- 9 of the 25 largest real estate funds for 2024 are based in New York (36%)
- The average AUM of the top 25 real estate funds for 2024 is $22.2 billion USD
- The median AUM of the top 25 real estate hedge funds for 2024 is $14.1 billion USD
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