Fundraising Takes Longer But More Firms are Going to Market
Preqin came out with its first quarter fundraising numbers and there weren’t any surprises. Globally, there were 92 funds that reached a final close in first quarter, raising $42.3 billion. The totals are the lowest amounts since 2003, according to data from Preqin. U.S. funds raised the most capital during the time period. Forty-five U.S. funds collected $25.9 billion in first quarter, while 24 European-focused pools totaled $6.5 billion. Another 24 funds, focused on Asia and the rest of the world, gathered $9.9 billion. Fundraising in the U.S. is going up, according to Buyouts, our sister publication. In first quarter, 43 funds raised $18.3 billion. This compares to 49 funds that collected $10.2 billion in first quarter 2010. However the Buyouts data covers only U.S. buyout and mezzanine funds, both interim and final closings.
