'A jumbo jet in turbulent skies': How Brookfield raised $16bn and counting

Brookfield Asset Management is nearing a final close on its largest real estate fundraise yet. The New York-based manager’s opportunistic Strategic Real Estate Partners V fund has raised $16 billion from institutional investors, and a further $2 billion is expected to come from private wealth investors and regional sidecars in the coming months, PERE understands.

This is the biggest real estate fundraise since Blackstone Real Estate Partners X was closed in 2023, for which US manager Blackstone collected $30.4 billion in capital commitments. Brookfield's success comes as difficult times persist for fund managers. The latest PERE fundraising report revealed total capital commitments to private real estate funds declined for the third consecutive year, reaching $131 billion in 2024 – a 50 percent drop from the $256 billion raised in 2021.

This episode delves into the details of Brookfield’s global fundraise. Listen as host Lucy Scott, PEI Group real estate editor-in-chief Jonathan Brasse and PERE EMEA editor Charlotte D’Souza discuss the significance of the fundraise and what it tells us about investor sentiment today.

Also hear from Lowell Baron, president and chief investment officer of Brookfield’s real estate group, who shares insights on the markets that the firm is eyeing at a time of continued macroeconomic and geopolitical uncertainty.

READ: The latest PERE fundraising report

Correction: A previous version of this episode erroneously cited a transaction between Brookfield and Harrison Street in Q1 2025 for a US residential portfolio. Brookfield purchased a US student housing portfolio in December 2024, according to PERE Deals data, for which the seller is unknown.