• Total real estate AUM at US$4.1 trillion in 2023, marking a second year of contraction from 2021 peak.
• The top 10 managers by size represents 51% of the total AUM·and grew by 8.1% year on year.
• Debt products increased in importance, now representing 13% of non-listed real estate allocations.

At the end of 2023, the total global real estate assets under management (AUM) reached a record of US$4.1 trillion. The total AUM of the top 10 managers exceeded US$2.1 trillion.

With over US$520 billion of real estate AUM, Blackstone tops the overall list, followed by Brookfield and Prologis.
 
ESR takes the first spot in the top 10 in APAC, followed by GLP and CapitaLand.