Chart of the Week: Funds in market snapshot

 Snapshot comparing the funds in market in December 2013 and 2014.  

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As of 31 December 2014, Private Equity International recorded 2227 funds on the road with an aggregate target size of $747.1 billion. This is a 21 percentage increase from 31 December 2013. However, the average target size per fund has fallen by more than 10 percent in December 2014, perhaps indicating that GPs are less confident in putting capital to work in 2015.

Venture capital /growth equity funds were collectively targeting $269.8 billion at the end of December 2014, a percentage increase by nearly a third from December 2013.

The Growth Ladder Fund by KDB Asset Management is the largest fund on the road targeting $5.7 billion. Industrial Bank of Korea (IBK) and Korea Finance Corporation are some LPs that have committed to the fund.

The aggregate target size for distressed/turnaround funds doubled in December 2014 to $30.1 billion from $14.6 billion in December 2013, perhaps an indication that GPs envisage tough times for corporates in the future. The top three distressed/turnaround funds currently in market are managed by Oaktree Capital Management which account for more than 40 percent of the total capital targeted by GPs for the strategy.

Secondaries GPs are targeting 20 percent less capital compared to the previous 12 months, alluding to firms eying fewer opportunities within private equity secondaries going forward.

 

Click here to see the full list of funds currently on the road.