Griffin Institutional Access Real Estate Fund, a closed-end interval fund managed by Griffin Capital, has reportedly surpassed $5 billion in assets under management, following its “best calendar year of performance” since inception.
The company said that, in addition to the record annual performance, posting a total return of 23.71 percent (NASDAQ: GRIFX) in 2021, the fund produced its best quarter of performance since inception in the fourth quarter of 2021, and concluded the year by delivering its best month of performance since inception in December 2021.
“We are pleased with the fund’s strong performance and asset growth in 2021,” said Dr. Randy Anderson, chief executive officer of Griffin Capital Asset Management Company. “We allocated a significant amount of capital to our high conviction themes…which contributed to the fund’s returns in 2021, and consequently bolstered exposure to sectors that we believe may benefit from secular growth trends.”
Anderson noted that the “high conviction themes” include multifamily, industrial, and specialty, i.e. life science and student housing.
Since inception, the fund has reportedly generated positive returns in 28 of 30 quarters with an annualized volatility (standard deviation) of 3.54 percent as of December 31, 2021.
Griffin Institutional Access Real Estate Fund Results (Class I shares as of December 31, 2021):
- 23.71 percent total return during 2021 (best calendar year since inception)
- 8.73 percent total return during the fourth quarter of 2021 (best quarter since inception)
- 3.82 percent total return during December 2021 (best month since inception)
- 77.74 percent cumulative total return and 7.97 percent annualized total return, since inception.
Griffin Capital is a privately held alternative investment asset manager headquartered in Los Angeles, California. Founded in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing more than $20 billion in assets.
The company’s alternative investments include three groups of products: non-traded real estate investment trusts (REITs), interval funds in the company’s Institutional Access fund family, and tax advantaged strategies, including Delaware statutory trusts and opportunity zone funds.