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Laxman Pai, Opalesque Asia:

The accumulation of global private equity (PE) and venture capital (VC) dry powder accelerated in the first half of the year, pushing further into record territory, said a study.

According to S&P Global Market Intelligence data global PEVC dry powder hovered around $2.62 trillion as of July 10, with funds adding $49.44 billion to their collective stockpile since the start of the year.

That six-month increase in dry powder easily outpaced growth through all of 2023, when dry powder levels increased just $27.97 billion in 12 months, it said.

Capital inflows for private equity funds have slowed in recent years - fundraising sank to a six-year low in 2023 - but a sluggish M&A environment has limited dry powder spend, with fewer opportunities for private equity to invest in buyouts and other deals.

The dynamic could be changing. Although global private equity entry value fell year over year in January, it ended the first quarter up more than 5% over the same three-month period in 2023. The upward trend continued in April and May.

The 25 private equity and venture capital firms with the largest stores of dry powder collectively reported $556.19 billion of uncommitted capital, or more than 21% of all private equity dry powder globally, according to Market Intelligence data. Topping the list as of July 1 was US-listed alternative asset manager KKR & Co. Inc., with $43.86 billion available for private equity investments.

The conce......................

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