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Warburg Pincus this week appointed senior advisor Thomas
Horton to its industrials and business services group, to support the firm’s growth
in the aviation sector, as
reported in Private Equity
International. PEI’s Research & Analytics team have taken this
opportunity to analyse the post-crisis development of closed-ended private
equity fundraising targeting industrials.
Aggregate capital specifically targeting industrials
increased year on year from $531.13 million in 2009 to $2.59 billion in 2012
before declining to $386.83 billion in 2014. In the first three quarters of 2015,
$3.45 billion has been gathered, already more than eight times that collected
Industrials vehicles targeting North America account for 98
percent of aggregate capital raised so far this year. The two largest funds to close
were American Industrial Partners Capital
Fund VI, which had collected $1.8 billion by final close in September, and Sterling
Group Partners IV, which closed at $1.25 billion in July. Prior to 2015, Europe
had dominated as the region of focus for industrial vehicles with $3.92 billion
raised in total between 2009 and 2014, 39 percent higher than North American
There are currently 13 industrial
focused closed-ended private equity funds in market or coming to market
targeting $2.74 billion. Vehicles with a global remit, investing into two or
more regions, are targeting the most capital at $758.01 million.
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