The market share of debt funds compared to all private equity real estate funds launched in Europe in terms of target equity rose from 15% in 2011 to 20% in the first three quarters of 2012, according to an analysis by Swisslake Capital. However, the allocation for Europe remains far from adequate at just $3.7 bn (EUR 2.3 bn) so far this year. A year ago, the figure was $3.8 bn. In 2011, a total of $12.1 bn of equity was targeted globally.