PitchBook：2025年第一季度全球不动产报告（英文版）

With $106.8 billion raised by 105 vehicles, 2024 was a slow year for real assets fundraising, but not its slowest in the past decade. The asset class fared better than others, such as real estate and VC, when comparing the magnitude of the drop in commitments each experienced in 2024. Still, fundraising was negatively affected by the limited distributions coming back to allocators due to the low-liquidity environment—which tamped down allocator appetite for private funds in general— and the p