Private equity fundraising for the first three quarters of this year dropped to its lowest total since 2015, according to PEI data.
Firms raised more than $259 billion between Q1 and Q3, down from the $364 billion collected over the same period last year. It marks the lowest total since 2015 when firms raised $264 million over the three quarters.
Carlyle Group‘s $18.5 billion haul for its seventh flagship buyout fund in July is the largest of the year so far. The Washington DC-headquartered giant has two entries in the top 10, with the $6.55 billion raised for Carlyle Asia Partners V in June.
Europe is bracing for a raft of mega-funds that are due to return to market in the second half of this year and beyond. Cinven, Permira and Partners Group are among those in the process of launching new vehicles while Apax Partners is expected to return early next year.