The Q1 2024 Global IRR Index release monitors 381 closed end funds across vintages from pre-2001 to 2022. All of these 381 funds follow a non-core strategy as defined by their managers and include 331 value added and 50 opportunistic funds. This release of the Global IRR Index features 72 Asia Pacific funds, 145 European and 164 funds focused on the USA.
Key highlights:
- The IRR of funds in the Post 2019 cohort declined further by 171 bps to -10.67%, from -8.96% in Q4 but at a slower pace compared to the previous quarter.
- The two strongest vintage groups are represented by funds launched before 2001 and between 2011 and 2013. They posted average IRRs of 14.73% and 14.17%, respectively.
- The best-performing vintage group continues to be the USA’s 2008-2010 cohort which has delivered an equally weighted IRR of 18.66%.
The Global Internal Rate of Return (IRR) Index is jointly produced by INREV, ANREV and NCREIF to measure the IRR performance of non-core strategy closed end non-listed real estate vehicles since inception on a global scale.
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Global Internal Rate of Return (IRR) Quarterly Index
Last updated on 02 Jul 2024
The first Global IRR Index provides data on the performance of value added and opportunity strategy closed end non-listed real estate funds in Asia Pacific, Europe and the US.