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Fundraising for closed-ended buyout vehicles in the first
half of 2015 has collected just $61 billion from the close of 58 funds. In
comparison to H1 2014, there is a 39 percent decrease in aggregate capital
raised and a 38 percent drop compared with H2 2014. Between 2010 and H1 2015,
the most successful fundraising year in terms of total value of capital
gathered was 2013. In this year $218.35 billion was raised overall from the
close of 160 funds. This aggregate figure then decreased in 2014 to $199.25
billion, and looks set to fall even lower at 2015 year end.
So far in 2015 the largest buyout vehicle to hold a final
close is American Securities’ North America-focused fund, American Securities
Partners VII, which collected $5 billion from investors. Of the 58 funds closed
in H1 2015, 22 raised over $1 billion each. In the first half of the previous
year 27 vehicles each gathered over $1 billon, the largest of which was the
$7.3 billion Bain Capital Fund XI - Bain Capital’s Globally-focused vehicle.
Although buyout fundraising has been decreasing from half year
to half year since H2 2013 there are a number of large buyout vehicles on the
road, revealing the potential for a renewal of interest in the strategy going
forward. The largest buyout fund currently in market is Blackstone Capital
Partners VII. With a target size of $16 billion, the vehicle has already
collected $17.5 billion from investors and will be one of the largest funds
raised by Blackstone since the firm’s inception.
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