PJT Park Hill claimed Capital Advisory Firm of the Year, breaking Evercore's six-year run, while The Carlyle Group swept multiple awards including Firm of the Year and a record $9 billion fundraise for Carlyle Realty Partners X. FPA Multifamily won Residential Investor of the Year, raising $2.71 billion across two funds and making its first PERE Awards appearance. Texas Teachers' Retirement System took Institutional Investor of the Year, committing nearly $1.3 billion to residential funds and showcasing strong conviction in niche areas like student housing. Apollo Global Management secured Deal of the Year with its $1.5 billion acquisition of Bridge Investment Group, expanding its real estate assets under management by over 40%. These winners highlight the residential sector's resilience and growth, driven by supply shortages and its role as an inflation hedge. Carlyle's CRP X fund is the largest US-focused real estate vehicle closed last year, while FPA's Apartment Opportunity Fund IX was the largest US residential fund raised, demonstrating the sector's appeal to large institutional investors seeking higher returns through operational assets. The trend underscores a broader shift towards operationally intensive residential strategies.