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Chart of the week: North America gains while Europe falters

Concerns around the UK’s EU referendum look to have knocked first-half fundraising for the continent.

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As LPs shy away from the UK post-Brexit, PEI’s Research & Analytics team compares H1 fundraising in North America and Western Europe to see if a pre-Brexit effect is detectable.

After post-crisis lows, North America saw a gradual increase in fundraising from H1 2010 to H1 2014, hitting its peak in 2014 at $92.36 billion. Other than a dip in 2012, a generally low year for private equity fundraising, Western Europe also displayed a gradual increase in H1 until 2015.

Despite a slight drop in H1 2015, North America has had a strong first half of this year, with fundraising reaching a total of $88 billion, just short of the post-2008 peak. Western Europe, however, has had a weak start with a total of just $12 billion, just half of what it had raised by this point a year ago.

The low fundraising in Western Europe is likely to be due to Brexit uncertainty in the run up to the referendum, and it appears Europe’s loss in North America’s gain.