Fundraising Report

Private equity funds in the first quarter gathered about $180bn between them, $22bn less than the equivalent period last year.

Buyout, growth equity, venture capital, secondaries and other private equity funds raised $501bn as of December 31, down 21% from $631bn secured in 2023.

Fundraising dropped 18% from 2023, driven by a quiet second half and muted activity in Asia-Pacific.

The size of the average buyout fund close soared to $1.45bn in Q1-Q3 2024 – the largest ever recorded by PEI.

Vitruvian Investment Partnership V is already 25% invested, according to details shared with Private Equity International.

Buyout, growth equity, venture capital, secondaries and other private equity funds raised $254bn in the first half, nearly matching the results of a year earlier.

While fundraising timelines have stretched, the percentage of funds to have exceeded their target at final close is at its highest level since 2008.

Funds collected $408.6bn during H1 2024, up from $374.6bn for the same period last year, according to PEI data.

Private equity funds raised $88bn by the end of March, down 34% from a year earlier. This marked the first time that quarterly inflows have fallen below $100bn since 2020. The number of fund closings declined even more significantly.

Private equity firms raised close to $177bn in January-March, with buyout funds accounting for the majority.