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Alternative Market Briefing

Private equity funds secure $163bn in Q3 2019, surpassing the $138bn of previous quarter

Monday, October 14, 2019

Laxman Pai, Opalesque Asia:

Appetite for private equity remains strong, despite escalating US-China trade tensions and an impending Brexit.

The third quarter of 2019 saw private equity funds securing $163bn in aggregate capital, far surpassing the $138bn raised in Q2 2019, said Preqin in its quarterly update of private equity.

The number of funds closed has declined significantly though: 260 funds closed compared to 319 in Q2 2019, marking a five-year low in the quarterly number of funds closed.

The concentration of capital among a small number of large funds continues its trend.

Asia-focused funds have rebounded from a fundraising lull in the first half of 2019; 59 funds secured $40bn in investor commitments, surpassing the $38bn raised collectively in Q1 and Q2 2019.

In contrast, 31 Europe-focused funds raised a modest $14bn in Q3 2019, less than half the capital secured in Q2 2019.

Private equity vehicles globally have had successful fundraising for the first three quarters this year.

Among funds closed in Q1-Q3, 34% were in the market for six months or less, and more than half were on the road for less than a year. With more investors committing to experienced fund managers, the larger funds are becoming oversubscribed, allowing the more established GPs to complete their fundraising speedily.

3,637 funds seek an aggregate $751bn as of October 2019

As of October 2019, 3,637 funds are seeking an aggregate of $751bn, compared with 3,7......................

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