The APREA-Preqin Quarterly Monitor uses interactive infographics to showcase the performance of closed-end private real estate funds focused on Asia-Pacific (APAC). Benchmark your APAC- or global-focused funds against those of your peers, see how fund performance has evolved over the past decade and analyze fund returns based on different vintage years and strategies. 

Preqin captures performance data from a variety of sources including direct contributions from institutional investors and fund managers, as well as the latest financial reports, public filings and annual reports. The Index is updated as of Q3 2019, and will be refreshed every quarter (October, January, April and July) with a six-month lag to ensure figures are meaningful. Vintage analyses are based on the most up-to-date data collected by Preqin as of March 2020. 

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Preqin APAC Private Real Estate Quarterly Index

The Index (as of Q3 2019) captures the average returns earned by investors on their private capital portfolios, based on the actual amount of money invested in Asia-Pacific by private real estate fund managers. The index figures are derived from fund-level performance data provided to Preqin by both fund managers and LPs, and reported to us net of fees and costs.

Preqin indices are dynamic – when a new quarter is calculated, the percentage change over the preceding quarter is recalculated to include all of the additional data we have been able to obtain.

The Index is capital weighted, meaning larger funds have a larger bearing on the overall percentage changes.

Index Composition

232

Constituent Funds

10

Fund Manager Markets

7

Strategies

$146.5bn

Capitalisation of Index

BENCHMARK YOUR REAL ESTATE FUND

Use Preqin market benchmarks to see where a fund stands in a peer group. Select a geographic focus and vintage for comparison and enter net IRR (%) or net multiple (X) to view quartile ranking. For more granular performance data at a fund-level, contact us for a free demo of Preqin Pro.

Net IRR (%) Net Multiple (X)
This is a static quartile chart that does not take your input into consideration when calculating median and quartile boundaries. 

Preqin APAC Private Real Estate Quarterly Index

Methodology: % change=
6

Median Net IRR (%)

Funds that began investing following the Global Financial Crisis (vintages 2009 and onwards) have experienced significantly larger returns (both in terms of net IRRs and net multiples) than those preceding them. Funds of more recent vintages are still relatively early in their fund lives, and so figures for these vintages are subject to change as funds mature. To explore performance data at a fund-level, register for a free demo of Preqin Pro.

Risk/Return

The size of each bubble represents the capitalization of funds in this analysis, with the x- and y- axis illustrating return (median net IRR%) and risk (standard deviation of net IRR%) respectively. This chart is made up of funds of all vintages.

APAC-focused managers are finding the largest returns in distressed opportunities – with the strategy also exhibiting a lower risk profile than opportunistic funds (the most capitalized strategy). Meanwhile, debt and fund of funds vehicles have exhibited the lowest variation in returns.

League Table

Top performing funds by net IRR% (Most Up-to-Date data; includes funds of all vintages, closed and liquidated)
Filter by: Strategy
Core/Core-Plus
Fund Firm Vintage Status Fund Size (mn) Firm Location Net IRR (%)

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Established in 2005, the Asia Pacific Real Estate Association (APREA) is a leading pan-Asia industry association that promotes real estate as an asset class in the Asia Pacific region. The organization represents leading property investors, fund managers, financial institutions, developers and professional groups operating in Asia Pacific. APREA works with governments to open up new real estate markets and improve existing ground rules for doing business. It also champions a more transparent, respected and professional marketplace via its extensive research, industry standards and education programs. APREA’s networking and engagement programs help its members connect to business opportunities in Asia Pacific and beyond. Its members represent more than US$1 trillion of assets under management. APREA’s focus is cross- border investment – both inbound and outbound.

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Preqin is the home of alternative assets, providing industry-leading intelligence on the market and cutting-edge tools to support participants at every stage of the investment cycle. More than 73,000 industry participants in over 90 countries rely on Preqin as their indispensable source of data, solutions and insights. Preqin’s products and services span the following asset classes: private equity, venture capital, hedge funds, real estate, infrastructure, private debt, natural resources and secondaries. Preqin’s data and analysis is frequently presented at industry conferences, and is used in the global financial press and academic journals & white papers.