DOWNLOAD: Q1-Q3 fundraising defies market slowdown

Aggregate capital raised by private equity funds hit $516.9bn, the second-highest Q1-Q3 total on record, according to PEI data.

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Capital raising by private equity funds grew robustly in the first three quarters of the year, with $516.9 billion brought in by 1,051 funds, according to Private Equity International‘s Fundraising Report Q3 2022. Apart from the record-breaking haul seen in 2021, 2022’s Q1-Q3 total beat out all other years on record.

Last year was a bonanza for PE fundraising, largely due to the return of travel and investors tracking down diversification and growth. The figures served as further proof that PE funds are resilient in difficult times. The Q1-Q3 capital raising total for 2022 is the second-highest ever recorded, exceeding the previous records set in 2019 ($457.5 billion) and 2017 ($467.4 billion).

Buyouts continue to dominate fundraising, accounting for almost half of capital raised and about one-fifth of funds closed. Venture and growth also remain popular with investors, making up 25 percent and 14 percent of aggregate fundraising volume, respectively.

The 10 largest funds closed between Q1 and Q3 raised almost $150 billion between them, led by the $25 billion Advent International GPE X and the $19 billion KKR North America Fund XIII.

Fundraising will no doubt be more challenging in 2023: in an especially crowded PE market, 3,566 funds are seeking some $1.1 trillion between them as higher than expected inflation, especially in the US and major European economies, triggers a tightening of global financial conditions.

Download the full Q3 2022 fundraising data here and PDF here.