Charts of the year: a struggle for European debut managers

PEI's look back at the trends of 2015 finds that if raising capital wasn't hard already enough, try being a newcomer in Europe.


This Christmas may see some of Europe’s rookie managers wondering if they have made a big mistake after 2015 proved a painful year for newcomers.

If recent years had not been hard enough, the past 12 months saw just $2.8 billion raised across 16 funds as the heady days of 2013 look more and more like an anomaly (see chart below).

Only four European debut funds closed in Q1, all raising less than $100 million (see chart above), and they year struggled to improve from there as investors stuck with what they know.

A study by Montana Capital Partners confirmed what many feared when 62 percent of family office respondents said they didn’t plan to invest in a first-time fund in 2015.

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