North American capital consolidation is punishing first-time funds, according to Preqin.
The first-time funds are often managed by new or emerging managers and lag their peers in both fundraising and performance, according to Preqin. Series one funds are often three times, about $900 million, behind funds at the second series or later.
The fundraising gap between series one funds and series two and later funds has grown more over the past decade. "For some first-time managers, this fundraising gap may seem insurmountable,' according to Preqin.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
