In this episode, the team looks at the preliminary findings of PERE's Q1 2026 fundraising report. Listen as host Lucy Scott discusses the trends behind these numbers with PERE senior reporter Christie Ou, Real Estate Capital Europe editor Daniel Cunningham, and PEI research manager Kristina Savcenkova, who worked on the data.

Among the headline themes is that fundraising is down, with managers raising just under $44 billion globally in Q1 2026, down from $81.4 billion a year earlier. While the drop partly reflects the absence of the mega-fundraisings seen in early 2025, it also points to a more selective market.

Another key shift this quarter was the resurgence of value‑add strategies, which accounted for more than half of all capital raised. Debt strategies also remain in favor.

However, despite subdued volumes, there were encouraging signs beneath the headline numbers. Funds are closing faster, and a growing proportion are meeting or exceeding their target sizes – suggesting that the market is finding its footing, even amid ongoing macro uncertainty.