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Laxman Pai, Opalesque Asia: Globally, private equity funds raised $444.65 billion in the first half, down 20.5% year over year from $559.02 billion in the first half of 2022, said a report.
According to S&P Global Market Intelligence and Preqin data, private equity fundraising appears set to take a big step back in 2023, with both investor commitments and the number of funds in market pacing for full-year totals not seen since the middle of the last decade.
More recent data shows this year's global fundraising total nudged up to $450.56 billion as of July 13, putting the asset class on track for a projected annual total that would be private equity's weakest fundraising performance since 2015.
Even brand-name funds are falling short of expectations in what Blackstone Inc. President Jonathan Gray described as a "very challenging fundraising environment" on his firm's second-quarter earnings call.
The 489 private equity funds actively raising investor capital in the first quarter fell to just 456 funds in the market as of the second quarter, the lowest quarterly total since September 2014, according to S&P Global Market Intelligence and Preqin data. The first half was also marked by a steep year-over-year decline in new fund launches.
That the number of funds in the market is down even more dramatically than overall private equity fundraising may be the sign of a flight-to-quality phenomenon among LPs, suggested Bart Molloy, a partner at placement agen...................... To view our full article Click here
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