Chart of the Week: Hit or Miss

 Secondaries and buyouts were best able to exceed targets in 2013   

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Private equity funds that collected exactly their targets or above raised $296 billion in 2013 – $40 billion more than expected.  Only 20 percent of all funds that closed in 2013 missed their targets.

 

Secondary funds exceeded targets 63 percent of the time, indicating a high level of interest in the secondary market among limited partners.

 

Buyout funds also did extremely well in 2013 with 80 percent of funds at least reaching targets or exceeding them.  Apollo Investment Fund VIII, CVC European Equity Partners VI and Carlyle Partners VI all exceeded their stated expectations. Warburg Pincus Private Equity XI, one of the mega funds unable to reach its target of $12 billion, closed at $11.2 billion.

 

Note: Only funds that published a target are included in the data.