More than half of the capital raised from Europe's top five countries is from the UK in the first three quarters of 2014. The UK is home to managers with a strong reputation and a clear track record, two factors that LPs are increasingly looking at when deciding on who to invest with. Permira V is the largest fund to close so far, collecting $6.68 billion from many investors including Portfolio Advisors and Canada Pension Plan Investment Board.
French GPs have also had a strong year raising $17.85 billion from 21 funds. Much of this capital comes from the $9 billion AXA Secondary Fund VI, which is the largest private equity fund for secondary strategies ever raised.