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Laxman Pai, Opalesque Asia: Private equity buyout funds represented seven of the 10 largest fund launches in the first half, said a report.
The United States and Canada led the way with 160 fund launches in the first six months of the year, just over half the global total. Next came Asia-Pacific with 74 funds and Europe with 56 funds entering the market.
According to S&P Global Market Intelligence and Preqin data, the largest debut of the first half was middle-market PE firm AIP LLC's $5 billion American Industrial Capital Partners Fund VIII, which launched in April. New Jersey Division of Investment and Massachusetts' Pension Reserves Investment Management Board committed $150 million and $100 million to the fund, respectively.
"Global private equity and venture capital fund launches in the first half of 2023 lagged significantly behind the pace set last year as challenging fundraising dynamics and a slower tempo of investing gave managers reason to second-guess bringing new funds to market," said the report.
Fund launches are on track to register a steep decline this year after a weak first half when just 319 private equity and venture capital funds entered the market, said the report.
If the first-half number is duplicated in the second half of the year, fund launches will decline 67.2% from their full-year 2022 total. Fund managers would need to launch five times as many funds in the second half of 2023 to equal the 1,946 fund launches recorded g...................... To view our full article Click here
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