Q3 Fundraising Drops 41% to $44.8 Billion
Third quarter has officially ended so it's time to tally up the damage. As expected, global fundraising slowed in Q3 with 97 PE funds reaching a final close. These funds raised an aggregate of $44.8 billion, according to Preqin (the numbers may increase by 10% to 20% as more data becomes available, Preqin said). The totals are roughly half of the $82.8 billion raised by 175 funds in second quarter earlier this year. What's more, the amount raised is off 41% from the $77.1 billion collected by 150 funds in third quarter 2010. “Private equity fundraising was extremely challenging in the third quarter of 2011, with September a particularly slow month for fundraising; just $8.9bn was raised by the 33 funds to close that month," said Helen Kenyon, a Preqin senior manager, in a statement.
