Fewer private equity funds reached a final close in Q1 2020, as the asset class is affected by the COVID-19 pandemic.

According to Preqin, a total of 267 funds closed, marking a 27% drop vs. Q1 2019. But the total amount of capital raised was significant: at $133bn, it surpassed the Q1 2019 figure of $119bn by almost 12%.

Large funds helped to boost the total