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The five largest fund managers
raised a collective $271.96 billion from closed-ended private equity funds
between 2008 and last year, led by The Blackstone Group.
The New York-based firm
collected $65.66 billion from the close of 25 vehicles during a period in which
it regularly bucked the industry trend.
In 2008, the big five fund
managers all closed private equity vehicles, with four raising in excess of $10
billion. Blackstone, in contrast, gathered just $2 billion, having held a final
close on one vehicle – GSO Capital Opportunities Fund.
As the market corrected itself
following the financial crisis, capital gathered generally increased. However,
in 2012, Blackstone collected more than $25 billion from the close of seven
funds, while Apollo Global Management, Bain Capital and The Carlyle Group each
raised less than $10 billion.
Meanwhile, as aggregate
capital gathered by the largest managers fell between 2013 and 2015, Blackstone
raised more. It collected $23.55 billion – $11.55 billion above the second largest
fund raise, by Warburg Pincus.
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