Chart of the Week: 2013 overtakes 2012 fundraising

Q1-Q3 2013 fundraising set the scene to overtake 2012 - but October’s numbers finish the job.  

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Fundraising for 2013 has already exceeded 2012’s $301.09 billion, with two months still left until the year end. October’s fundraising numbers reveal that 49 funds held final closes collecting $30.84 billion worth of capital. The largest fund to close was the Georgian Co-Investment Fund, which closed on $6 billion. This Venture Capital/Growth Equity fund is one of the biggest emerging market specific country funds ever to close. Many funds collected enough capital to surpass the target. AXA LBO Fund V had an initial target of €2 billion but continued to collect more capital holding a final close at €2.41 billion. NB Secondary Opportunities Fund III is another fund that beat its target of $1.6 billion, closing at $2 billion. Venture Capital/Growth Equity funds attracted the most capital in October, very much helped by the final closing of the Georgian Co-Investment Fund. Approximately 50 percent of capital that closed in October focused on the strategy.
 
 

The first three quarters of 2013 did significantly better with fundraising compared to the same period in 2012. Despite raising four fewer funds, Q1-Q3 2013 collected $52.72 billion more in capital. The top ten funds that held final closes in 2012 raised $66.27 billion. The largest fund to close that year was buyout fund Blackstone Capital Partners VI collecting a massive $16.27 billion. To date, 2013 has raised $79.46 billion from the top ten closed funds. CVC European Equity Partners VI, Warburg Pincus Private Equity XI and Silver Lake Partners IV all collected more than $10 billion worth of capital each.

 

With less than two months of the year left, fundraising will continue to rise. There are many funds on the road that are close to reaching a target and in some cases, exceeding them. Court Square Capital Partners III hit their target of $3 billion in May and will be looking to hold a final close by the end of the year. Also anticipated to hold a final close before the year end is the Riverside Capital Appreciation Fund VI, having already raised $180 million more than its original target of $1.3 billion.