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Laxman Pai, Opalesque Asia: Global private equity remained subdued in the first three months of 2023 as the market was weighed down by economic uncertainty, tighter fiscal policy, and disruption in the banking system, said a study.
The latest data from Preqin Pro shows funds closed globally were worth a combined $147.7bn. There were 168 new vehicles. That compared favorably with the $150.1bn total in Q1 2022, although the volume was down, from 290. In the first quarter of 2021, $189.4bn was raised by 399 funds.
Cameron Joyce, SVP of Research Insights, at Preqin said: "Global public equity AUM climbed higher in Q1 2023 as receding recessionary risks outweighed emerging risks in the banking sector. Overall, private equity activity continued to slow compared to a high base of activity last year. That said, deal activity held up comparatively well as managers continued to deploy ample levels of dry powder."
According to Preqin, Quarterly Updates Q1 2023, North America-focused funds accounted for 71% of the total capital raised, and 112 vehicles, two-thirds of the total.
There were 62 buyout funds raised globally, worth $73.6bn. The five largest were Permira VIII (€16.7bn), TSG9 ($6.0bn), Arcline Capital Partners III ($4.5bn), Parthenon Investors VII ($4.5bn), and Accel-KKR Capital Partners VII ($4.4bn).
By early May, a total of $103.0bn had been raised by 83 buyout funds.
Meanwhile, despite prevailing uncertainty and market pressure, deal flow ...................... To view our full article Click here
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