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Private equity funds gathered $535.2 billion in the 12 months ending December 2020, reflecting a decline in capital raising year-on-year amid the economic downturn resulting from the covid-19 pandemic.
The aggregate fundraising volume last year dropped 19 percent from 2019. Compared with 2018, however, fundraising jumped 11 percent from the $483.6 billion raised that year.
The number of funds closed last year dipped to its lowest level since 2015 at 906, as LPs favoured more established names and existing relationships.
Secondaries funds made up 15 percent of the total capital raise for the year, up 9 percentage points from the prior year. In fact, four secondaries vehicles raised by Ardian, Lexington Partners, Goldman Sachs Asset Management and AlpInvest Partners featured in the top 10 largest funds.
Check out our interactive fundraising report above for the other trends and highlights that shaped fundraising activity in 2020.
Download the report as a PDF HERE and download the data HERE.