Top 25 Real Estate Hedge Funds 2026
The 25 largest Real Estate Hedge Funds manage approximately $541.6 billion in combined assets as of 2026, up 3.7% from 2025. The ten largest funds alone account for approximately $430 billion of that total.
Angelo Gordon & Co. leads the rankings at $100B in AUM, based in New York. Cerberus Capital Management ranks second at $84B, followed by Farallon Capital Management at $48B.
United States is the most represented location with 76% of the top 25 funds and 82% of total assets under management.
There are 1 new entrants to the top 25 in 2026 and 1 funds that dropped off compared to 2025.
Total AUM — Top 25 Real Estate Hedge Funds 2026
Country Distribution
This ranking shows the top managers by AUM. The complete Real Estate Hedge Fund List covers every fund with verified emails, AUM, and 40 data fields — Excel/CSV, one-time purchase with 12 months of updates.
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Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Δ | Fund Name | City | Country | AUM ($M) |
|---|---|---|---|---|---|
| 1 | ▴1 | Angelo Gordon & Co. | New York | United States | 100,050.7 |
| 2 | ▾1 | Cerberus Capital Management | New York | United States | 84,094.6 |
| 3 | — | Farallon Capital Management | San Francisco | United States | 48,181.1 |
| 4 | — | GoldenTree Asset Management | New York | United States | 43,734.3 |
| 5 | — | Oaktree Capital Management | Los Angeles | United States | 38,350.0 |
| 6 | — | Cheyne Capital | London | United Kingdom | 28,969.1 |
| 7 | — | TCI Fund Management | London | United Kingdom | 26,500.0 |
| 8 | — | Gopher Asset Management | Shanghai | China | 21,200.0 |
| 9 | ▴1 | Stockbridge | San Francisco | United States | 19,538.1 |
| 10 | ▴1 | Guggenheim Capital Markets | New York | United States | 19,206.2 |
| 11 | ▴3 | Gordian Capital | Singapore | Singapore | 14,968.6 |
| 12 | — | Lazard Alternatives | New York | United States | 14,120.0 |
| 13 | ▾4 | CarVal Investors | Minneapolis | United States | 13,945.1 |
| 14 | ▾1 | Rockpoint Group | Boston | United States | 12,776.0 |
| 15 | — | Rockwood Capital | San Francisco | United States | 10,689.7 |
| 16 | — | LaSalle Investment Management | Chicago | United States | 9,784.8 |
| 17 | — | La Française Global Investment Solutions | Paris | France | 7,620.0 |
| 18 | ▴1 | Sagard Holdings Manager LP | Toronto | Canada | 6,418.1 |
| 19 | ▾1 | Avenue Capital Group | New York | United States | 6,405.8 |
| 20 | — | Contrarian Capital Management | Greenwich | United States | 4,039.2 |
| 21 | — | Avanath Capital Management, LLC | Irvine | United States | 3,636.6 |
| 22 | ▴2 | Emmes Asset Management | New York | United States | 2,236.7 |
| 23 | ▾1 | Dune Real Estate Partners | New York | United States | 2,115.6 |
| 24 | ▴1 | Blue Vista Capital Partners | Chicago | United States | 1,640.7 |
| 25 | NEW | Equity Resource Investments | Cambridge | United States | 1,330.5 |
Top 10 Funds — AUM Comparison ($B)
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🔺 Biggest AUM Gainers
| Fund | $ Change | % Change |
| Angelo Gordon & Co. | +$18.0B | +21.9% |
| Farallon Capital Management | +$5.6B | +13.2% |
| GoldenTree Asset Management | +$4.7B | +12.2% |
| Gordian Capital | +$3.4B | +29.2% |
| Sagard Holdings Manager LP | +$1.0B | +18.9% |
🆕 New Entrants
| Rank | Fund | AUM |
| #25 | Equity Resource Investments | $1,331M |
📉 Dropped from List
| Toscafund Asset Management |
📊 Fastest Growing (%)
| Gordian Capital | +29.2% |
| Angelo Gordon & Co. | +21.9% |
| Sagard Holdings Manager LP | +18.9% |
| Blue Vista Capital Partners | +15.3% |
| Farallon Capital Management | +13.2% |
Key Statistics
- 19 of the top 25 are based in United States (76%)
- 2 of the top 25 are based in United Kingdom (8%)
- 1 of the top 25 are based in China (4%)
- 1 of the top 25 are based in Singapore (4%)
- 1 of the top 25 are based in France (4%)
- The top 25 funds manage $542 billion in combined AUM
- The top 10 funds alone manage $429.8 billion — 79% of the total
- Average AUM of the top 25 is $21.7 billion
- Median AUM is $13.9 billion
- Combined AUM increased 3.7% from 2025
Geographic Distribution Trends
| Country | 2024 | 2025 | 2026 | YoY Δ |
|---|---|---|---|---|
| United States | 20 | 18 | 19 | +1 |
| United Kingdom | 2 | 3 | 2 | -1 |
| Canada | 1 | 1 | 1 | — |
| China | 0 | 1 | 1 | — |
| France | 1 | 1 | 1 | — |
| Singapore | 1 | 1 | 1 | — |
Frequently Asked Questions
What is the largest Real Estate Hedge Fund?
As of 2026, Angelo Gordon & Co. is the largest with approximately $100B in assets under management, based in New York.
How much do the top 25 Real Estate Hedge Funds manage?
The 25 largest collectively manage approximately $541.6 billion in AUM as of 2026, an increase of 3.7% from the prior year.
Which location has the most Real Estate Hedge Funds?
United States is home to 76% of the top 25 Real Estate Hedge Funds, making it the most represented location.
