Private Equity News & Analysis

DOWNLOAD: Flight to familiarity intensifies with fewer funds

Private equity fundraising reached $348.5bn in the year to the end of September, on par with previous periods, through a much lower number of funds.

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Private Equity International’s Q3 fundraising report is now available for download.

Managers raised a total $348.5 billion in final closes in the first nine months of the year, almost in line with the amount of capital raised in the equivalent period in prior years and the third-highest since 2015, PEI data show.

This capital was amassed by 583 funds, a drop from the 1,135 recorded throughout 2019, signifying that LPs are focusing on managers they know and have backed previously, as covid-19 restrictions make it more challenging to commit to new relationships.

The 10 largest funds to close in the year through end-September raked in almost 30 percent of the total capital raised during the period. The largest fund was CVC Capital Partners’eighth flagship vehicle, which gathered €22 billion in July.

Check out our interactive fundraising report for the other trends and highlights that shaped fundraising activity in Q3. You can also download the report as a PDF here and download the data here.