Alternative Asset Research

In this report we provide a detailed analysis of private equity performance data for Q3 2012, including horizon IRRs, changes in NAV, performance by vintage year, and a look at Preqin's Private Equity Quarterly Index (PrEQIn).

Preqin Private Equity Performance Benchmarks, Q3 2012 provides the latest performance data for the private equity industry, including median net IRRs, weighted IRRs and horizon IRRs across fund type, as well as preliminary benchmarks for Q4 2012.

The Preqin PECC Index aims to represent the returns on committed capital by including the actual amount of money invested in private equity partnerships as well as returns that the outstanding commitments will generate if invested on a risk-free basis.

This report analyzes the latest figures for the Private Equity Quarterly Index (PrEQIn). We look at the performance of different private equity strategies since December 2000 in comparison to the public markets, as well as a detailed analysis of buyout funds and a look at the difference in the returns of funds ranked in each of the four performance quartiles.

An update on the latest private equity fundraising figures as of Q1 2013.

The latest stats for private equity buyout deals in Q1 2013.

The most recent real estate fundraising data for Q1 2013.

Venture capital deals data from Q1 2013.

Infrastructure fundraising statistics as of Q1 2013.

This report features analysis of data from Preqin’s Secondary Market Monitor service, which analyzes secondaries transactions, pricing, and buyer and seller appetite, as well as fundraising conditions. The report also contains the results of interviews with over 40 institutional investors worldwide in March 2013, exploring their motivations for utilizing the secondary market, current appetite for buying and selling fund interests and views on the secondary market.

A look at the proportion of women holding senior roles at private equity firms around the world.

In this report we examine the latest figures for the Preqin Private Equity Quarterly Index (PrEQIn). We reveal the PrEQIn Index performance of each of the main private equity strategies since 31st December 2000, how the private equity industry’s performance as a whole compares to that of the public markets, including a separate comparison of buyout and venture, and the difference in the returns of funds ranked in each of the four performance quartiles.

Private equity in Latin America has grown in prominence over the last few years, with fundraising levels in 2011 reaching an all-time high, both in terms of the aggregate capital raised and the number of funds closed. The Preqin Special Report: Latin America draws on a Preqin survey of over 40 global investors with an interest in Latin America and provides an exclusive insight into the region, looking at: investor appetite, key fundraising data, deals and performance.

The opening weeks of 2013 saw the two largest private equity-backed public-to-private transactions announced since the buyout boom period of 2006-2007, indicating a potential return of the mega buyout: the $24.4bn Silver Lake-backed privatization of Dell Inc. and the $28bn Berkshire Hathaway and 3G Capital-backed buyout of H.J. Heinz Company.

The past year has been tough for the cleantech market, with fundraising levels and deal activity notably lower in 2012 compared to 2011. Despite some positive signs, 2013 looks set to remain challenging for cleantech fund managers seeking to raise new funds. This report provides an overview of the private equity cleantech market, looking at trends and developments in fundraising, deal activity and investor attitudes towards the sector. The report draws exclusively from many of Preqin’s online products and services, which provide over 10,000 industry professionals with data on all aspects of alternative assets.

The Preqin PECC Index aims to represent the returns on committed capital by including the actual amount of money invested in private equity partnerships as well as returns that the outstanding commitments will generate if invested on a risk-free basis.

Preqin Private Equity Performance Benchmarks, Q2 2012 provides the latest performance data for the private equity industry, including median net IRRs, weighted IRRs and horizon IRRs across fund type, geography and vintage.

Research report showing the latest movement in private equity performance as of Q2 2012, including trends over time, comparisons with public markets, and more. Features analysis according to fund type, size and vintage.

The latest stats on private equity-backed venture capital deals, as of Q4 2012.

Fundraising and deals stats from the infrastructure market in Q4 2012.

Q4 2012 real estate fundraising data.

The latest stats from the private equity fundraising market, as of Q4 2012.

The latest stats on private equity-backed buyout deals and exits, as of Q4 2012.

Research report showing the latest movement in private equity performance as of Q1 2012, including trends over time, comparisons with public markets, and more. Features analysis according to fund type, size and vintage.

The Preqin PECC Index aims to represent the returns on committed capital by including the actual amount of money invested in private equity partnerships as well as returns that the outstanding commitments will generate if invested on a risk-free basis.

Since its inception, the hedge fund industry has been constantly evolving in order to take advantage of the ever changing financial environment and growing hedge fund investor base. In this report, we explore some of the key topics in the hedge fund industry today, including the latest data on hedge fund launches and management and performance fees, overall hedge fund performance, including the top performing hedge funds by structure, and institutional investor preferences.

In this report we examine Preqin's exclusive data on private real estate investors' future fund searches and mandates. How are investors planning to commit to the asset class in the future? Which strategies and regions are most attractive to them? As we answer these questions, we explore the impact investor plans might have on the immediate and long-term future of the private real estate market.

The global private equity fundraising market remains competitive, with a large number of fund managers looking to secure commitments from investors. With this in mind, we examine Preqin's latest data on private equity investors' future fund searches and mandates. Which strategies and regions are investors planning to make their next commitments to? When will they look to make their next investment, and how much capital are they planning to commit? As we answer these questions, we explore the impact investor plans might have on the immediate and long-term future of the private equity market.

Q3 2012 real estate fundraising data.

The latest stats on private equity-backed venture capital deals, as of Q3 2012.

The latest stats from the private equity fundraising market, as of Q3 2012.

With interest in infrastructure investments on the rise among and the fundraising market continuing to grow, we examine Preqin's latest data on infrastructure investors' future searches and mandates. Which strategies and regions are investors planning to make their next commitments to? When will they look to make their next investment, and how much capital are they planning to commit? As we answer these questions, we explore the impact investor plans might have on the immediate and long-term future of the infrastructure market.

Fundraising and deals stats from the infrastructure market in Q3 2012.

The latest stats on private equity-backed buyout deals and exits, as of Q3 2012.

The rapid growth of the Asian private equity market in recent years has seen the region, along with other emerging markets, challenge the traditional private equity hubs of North America and Europe for a stronger foothold in the asset class. Investors are increasingly showing an interest in Asia as an alternative to these established markets. In this special report, we explore the growth of the private equity industry in Asia and reveal the findings of our survey of over 100 institutional investors with an appetite for investment in Asia.

The Preqin PECC Index aims to represent the returns on committed capital by including the actual amount of money invested in private equity partnerships as well as returns that the outstanding commitments will generate if invested on a risk-free basis.

Research report showing the latest movement in private equity performance as of Q4 2011, including trends over time, comparisons with public markets, and more. Features analysis according to fund type, size and vintage.

The special Preqin Investor Network Research Report examines the challenges facing LPs investing in private equity, private real estate and infrastructure and investigates: Can private equity offer outperformance? How do you find the best funds and tap the top quartile? Is it worth still investing in private equity? What are the best opportunities in a crowded market?

Preqin Hedge Fund Special Report: Future Fund Searches and Mandates provides a unique look into hedge fund investors’ plans for the future and the outlook for fund managers.

The latest stats from the private equity fundraising market.

The latest stats on private equity-backed buyout deals and exits.

The latest stats on private equity-backed venture capital deals.

Fundraising and deals stats from the infrastructure market in Q2 2012.

Q2 2012 real estate fundraising data.

The report examines wealth managers’ current views and opinions on private equity, private real estate, infrastructure and hedge fund markets for the year ahead.

Endowments currently account for a significant proportion of capital within the private equity industry and their average allocations to the asset class have increased significantly over the last five years. The Preqin Special Report examines endowments that invest in private equity based in North America.

A closer look at institutional investors in hedge funds across the globe; examining the latest key topics. Conducted using in-depth interviews with over 100 institutional investors to ascertain more details on their entire investment process.

This special report, produced in partnership with LPX Group, explores the high level of correlation between listed private equity and traditional closed-end private equity limited partnerships. Though traditional limited partnerships are set to remain the predominant route into private equity for institutions, this research means that even the biggest investors in private equity can use listed private equity as a valuable addition to their portfolio strategies, including the ability to better manage cash flows.

In order to assess the impact of Solvency II and other regulatory changes on insurance companies’ private equity portfolios, Preqin interviewed a representative sample of more than 50 insurance companies, also asking them about their general views on the asset class and their plans for future investment.

Research report showing latest movement in private equity performance as of Q3 2011. Shows trends over time, comparisons with public markets and more. Includes analysis according to fund type, size and vintage.

Private equity funds of funds remain an important link between institutional investors and private equity fund managers. In the present overcrowded fundraising market, such firms can be a vital source of capital for GPs worldwide. In this report, we explore how fund of funds managers' allocations are shifting, how they view the market and their future investment plans.

European institutional investors have faced unprecedented pressure resulting from the volatility, fat tail risks and uncertainty in the current economic environment. Despite this, however, the region is home to a large proportion of the hedge fund institutional investor universe and hedge funds can play an important role for institutions looking to actively manage risk. For hedge fund managers globally it is more important than ever to understand this key investor space and their investment preferences.

Banks are important investors in private equity; however many such institutions are now facing regulatory and legislative changes. This special report examines the challenges facing banks, their future investment plans, their appetite for the asset class and more.

What are the latest trends in the real estate fund of funds space? Preqin's latest special report covers the main aspects of this important part of the industry, including: funds of funds as investors, the current fundraising market, performance, the investor universe and more.

Venture capital has formed an important part of the private equity industry over the past few decades. More recently, the performance of venture capital funds has come under increasing scrutiny, with some questioning the industry’s ability to still provide the outsized returns seen in prior years. However, venture capital has continued to attract considerable attention from institutional investors. In this Preqin Special Report, we look into why venture capital is still seen as attractive by investors, as well as assessing trends in deal activity, fund performance and fundraising.

Preqin is pleased to announce our new Asian Private Equity Benchmarks – the first ever benchmark information made available to the private equity industry on Asian private equity funds. A complimentary service for private equity industry professionals, these benchmarks demonstrate how private equity in the region has outperformed the MSCI Pacific and MSCI EMF indices over the one-, three- and five-year periods.

The US represents the largest private equity market in the world. Despite the growth of the industry in Asia-Pacific and developing regions, the industry’s traditional home has remained the largest market in the world for private equity deals and is home to large numbers of institutional investors and fund managers alike. This report aims to analyze US-focused private equity from the perspectives of current fundraising conditions, investor attitudes, and the latest fund performance, framing this vital and most well established part of the industry in its historical context.

A round-up of private equity deals and exits activity in Q1 2012

The latest stats from the private equity fundraising market

In a much-changed global economic environment, measuring the performance of private equity relative to other investment classes is more important than ever. Preqin has created the first ever private equity index covering the entire industry – the Preqin Private Equity Quarterly Index (PrEQIn). This research report reveals the PrEQIn Index performance of each of the main private strategies since 31st December 2000, how the private equity industry’s performance as a whole compares to that of the public markets, including a separate comparison of buyout and venture, and the difference in the returns of funds ranked in each of the four performance quartiles.

Institutional investors are increasingly seeking new ways to extract value from their private equity portfolios and a growing number are setting aside capital for private equity co-investments. This report draws on the results of detailed interviews conducted with over 100 institutional investors from around the world with an interest in co-investment, examining their appetite for this method of investing, their current opinions of the co-investment market, and the outlook for co-investments going forward.

Research report showing latest movement in private equity performance as of Q2 2011. Shows trends over time, comparisons with public markets and more. Includes analysis according to fund type, size and vintage.

The last year has proven to be particularly significant for private equity as a whole for numerous reasons, not least due to the ongoing eurozone sovereign debt crisis, which saw the largely positive and encouraging fundraising conditions seen at the start of 2011 fall away as renewed fears of financial crisis and recession took grip. This Preqin Special Report aims to analyze Europe-focused private equity from the perspectives of current fundraising conditions, investor attitudes, and the latest fund performance, framing this important part of the industry in its historical context.

Asia-Pacific represents a rapidly maturing region home to a growing number of highly sophisticated investors in hedge funds and other alternative assets. Preqin and Global ARC present an in-depth study of Asia-Pacific institutional investors in hedge funds in order to assess this important group and their attitudes towards the asset class.

A look at the proportion of women holding senior roles at private equity firms around the world.

A summary of private real estate fundraising in 2011.

A round up of private equity deals and exits that took place in 2011.

A look at global private equity fundraising activity in 2011.

A round up of infrastructure fundraising and deals in 2011.

A survey of over 180 leading private equity firms into their compensation practices and levels of remuneration, as well as an overview of the number of firms and employment levels in the industry.

The toxic blend of the sovereign debt crisis and slow economic growth impacted some of the biggest and best known hedge funds in 2011. However, even in times of heightened global market volatility institutional investors remain committed to investing in hedge funds.

The opinions of 70 leading alternatives investment consultants on the private equity, private real estate, infrastructure and hedge fund markets and their plans for the coming year.

Based on the results of joint research conducted by Dechert LLP and Preqin, this report investigates how the levels of both transaction and monitoring fees charged by private equity firms have fluctuated from 2005 to 2010, and also assesses any trends witnessed in the post-2008 recovery period.

A round up of private equity fundraising during the third quarter of 2011.

Fundraising and deals stats from the infrastructure market in Q3 2011.

Q3 2011 real estate fundraising and deals data

Research report showing latest movement in private equity performance as of Q1 2011. Shows trends over time, comparisons with public markets and more. Includes analysis according to fund type, size and vintage.

Asia-Pacific’s emergence as a globally significant region for private equity is no longer a prediction; it is a reality. Fund managers from around the world see the benefit of investing in Asia-Pacific companies, and financial institutions in the region are increasingly aware of how they can put privately raised capital to work. Institutional investors from around the world also see the opportunities available from India to Australasia and are seeking exposure to private equity funds targeting these regions. Nearly a year since opening our Asia office, Preqin Special Report: Asia-Pacific Private Equity represents the collective efforts of our dedicated Asia-Pacific team and provides insight into this growing market.

Investor appetite for distressed private equity funds has increased significantly over the past few years, with these funds now accounting for 10% of all private equity fundraising, compared to 3% in 2006. Preqin's latest special report draws on extensive data held by Preqin on the fund managers active in distressed private equity, the funds they manage and current fundraising trends, as well as the results of in-depth interviews conducted with over 50 institutional investors actively investing in distressed private equity.

Private equity buyout deal flow has picked up significantly in recent months, but competition for deals remains intense. In these competitive times, it has become more important than ever that fund managers are able to effectively source, manage and execute deals. In order to better understand how these conditions are affecting the market and the ways in which firms are operating, LexisNexis Enterprise Solutions teamed up with Preqin to produce CRM Systems and Deal Sourcing, a special report drawing on the results of a survey of buyout fund managers.

Research report showing latest movement in private equity performance as of Q4 2010. Shows trends over time, comparisons with public markets and more. Includes analysis according to fund type, size and vintage.

The fundraising environment of the past few years has been difficult and hedge fund managers have had to show great flexibility in adapting to a more demanding institutional investor. In this study we analyze the types of funds that are more likely to be successful in institutional fundraising, as well as taking a closer look at the management groups that institutional investors are seeking.

A round-up of Q2 2011 real estate fundraising and deals activity.

End of Quarter fundraising and deals data from the unlisted infrastructure market.

Q2 2011 fundraising statistics.

A round-up of Q2 2011 private equity deals and exit activity.

Funds of funds have traditionally been a significant source of capital for private equity real estate fund managers, as well as providing access to the asset class for investors that lack the resources, finance, knowledge or experience required for manager selection and committing to funds directly. This special report calls upon some of the key content from the 2011 Preqin Private Equity Real Estate Fund of Funds Review to provide an overview of the latest industry developments.

In recent years, mezzanine funds – like most fund types in the private equity industry – have suffered from a depressed fundraising environment. This report examines mezzanine fundraising in these difficult times.

The private equity cleantech market continues to grow in importance, with fundraising holding up well and exciting new markets opening up in emerging regions. Our latest special report examines the latest industry developments.

Research Report showing latest movement in private equity performance as of Q3 2010. Shows trends over time, comparisons with public markets and more. Includes analysis according to fund type, size and vintage.

The 2011 Preqin Global Hedge Funds Investor Report reveals all the most important trends in the institutional investor universe, including attitudes by region, type and an investigation into appetite for emerging managers.

Drawing on data from Performance Analyst, Preqin has analyzed the performance of private equity funds of funds, their underlying investments and the relationship between predecessor and successor fund performance.

Using data from Deals Analyst and Performance Analyst, Preqin has
examined trends and performance of the various exit strategies used
by private equity buyout firms to realize gains for their investors.

With the assistance of The Australian Private Equity and Venture Capital Association (AVCAL), Preqin has undertaken in-depth analysis of the opinions of Australian institutional investors regarding private equity and their future plans in the asset class.

Preqin Australian Investor Outlook draws on the results of detailed interviews conducted with institutions from across Australia, carried out during February and March 2011.

Two unlisted infrastructure funds reached a final close in Q1 2011 raising an aggregate $0.6bn; the lowest quarterly total since Q2 2004. However, infrastructure fund managers were still able to attract capital, with eight funds holding an interim close during the quarter raising a further $2.2bn, equaling the total capital raised by funds holding a final close in Q4 2010.

Preqin’s quarterly deal flow data shows Q1 2011 exit activity matched record levels set in Q4 2010, while the number and value of new deals fell; 623 PE-backed deals worth $49.9bn were announced.

Private equity real estate fundraising remains slow in Q1 2011. With $5.8 billion raised by funds holding a final close; fundraising remains at slowest pace since 2003.

Full breakdown of fundraising stats in Q1 2011, including splits by fund type and regional focus, tables showing largest funds closed and more...

AB-1743 came into play in California in 2011, introducing new requirements for fund marketing professionals seeking to gather commitments from certain public pension plans including CalPERS and CalSTRS. Placement agents will now have to register as lobbyists, undergo ethics training in Sacramento and adhere to certain other regulations.

In order to ascertain the effect that changes will have on the third party marketing community, and in light of similar proposals in other US states, Preqin undertook a survey of placement agents to measure the expected impact of the new requirements.

With buyer and seller pricing expectations moving into closer alignment, 2011 is set to be a bumper year for Secondaries. Preqin's latest research report reveals the potential market for buying and selling in 2011.

Special Report showing the importance of early performance for buyout and venture capital funds. By analyzing the quartile rankings of funds between their fourth and sixth year and maturity, we show just how important relative performance can be even at an early stage.

With the fundraising market remaining congested and competitive, we turn to leading placement agent Capstone Partners for an insider’s view of fund positioning, how to approach LPs and market trends.

Research Report showing latest movement in private equity performance as of Q2 2010. Shows trends over time, comparisons with public markets and more. Includes analysis according to fund type, size, vintage and regional focus.

IPOs have become increasingly prevalent towards the end of 2010 and into 2011. Our factsheet highlights some of the key trends.

Private equity commitments have proved successful investments for public pension plans, generating positive returns throughout their lifespan. The latest Preqin Research Report looks at this issue in more detail.

The HF market has undergone many changes in recent years, including shifts in investor make-up, evolving terms and increased attention to investor concerns. In order to quantify past and likely future evolution, Preqin interviewed 60 hedge fund managers on a variety of topics.

A round up of the latest infrastructure fundraising stats.

A factsheet showing some key stats and trends in the Egyptian private equity market - covers fundraising, fund managers and investor data.

A round up of infrastructure deals stats 2011 YTD

A Preqin Special Report featuring an overview of activity in the private equity fund of funds market. Topics covered include fundraising, performance, institutional investors, listed funds and more.

Factsheet showing PERE fundraising in 2010.

Infrastructure fundraising and deals in 2010

A factsheet showing all the key statistics for private equity-backed deals and exits taking place in 2010.

A factsheet showing all the fundraising statistics for private equity in Q4 2010 and the year as a whole.

The AIFM Directive is set to have a profound effect on the alternatives industry in Europe, with managers around the world seeking to gain commitments from European investors also being affected. Our latest survey investigates how the European alternatives industry feels about the legislation and what the key effects of its introduction are going to be.

Despite being less popular than traditional hedge fund strategies, credit hedge funds have been gaining in popularity faster than their counterparts in the last two years. In this research report we take an in-depth look at the investors seeking opportunities to invest in credit funds.

A round up of the latest deal activity in the unlisted infrastructure market.

The period 2003 – 2008 saw unprecedented growth within the Asian private equity industry. Fig. 1 shows the increase in total capital raised annually by funds focusing on the region between the period 2003 and 2008, when a record $91bn was raised by 194 funds achieving a final close.

Investment consultants have always represented a vital sector within the alternatives arena, but in recent years their influence has grown significantly. With investors placing additional focus on evaluating existing manager relationships and exercising increased caution when making new investments, the role of their investment consultants has never been more important.

Cleantech investment prospects are global and it is estimated that of the $95 billion to be invested in the sector in 2010, 45% will be  deployed outside of the US and Europe. In emerging markets in particular, a plethora of opportunities to invest privately in cleantech have transpired.

Solvency II is a fundamental review of the capital adequacy regime for the European insurance industry. It aims to establish a revised set of EU-wide capital requirements and risk management standards that will replace the current Solvency requirements.

Infrastructure fundraising has improved significantly in 2010, with 20 funds reaching a final close so far this year raising an aggregate $24bn. This is more than three times the $7.8bn raised by unlisted infrastructure funds in the whole of 2009. The fundraising market remains challenging, but investors are clearly growing more confident in the wake of the financial crisis, and fund managers are once again beginning to attract capital.

A summary of private equity real estate fundraising by India-based fund managers in the last decade.

This Special Report takes exclusive intelligence from the 2010 Preqin PERE Review in order to investigate the scale of the current issues. It also uncovers some key facts and statistics relating to the global PERE market

There are currently 109 unlisted infrastructure funds on the road targeting an aggregate $76.3bn. In terms of target capital, this is significantly lower than the $107.8bn being sought by 107 funds in market in Q3 2009 and is also considerably down on the $88.8bn being sought by 100 funds in market in Q1 2010.

Despite the positive growth in the fundraising market, infrastructure deal volume remains restricted by the contracted credit markets and inflexible asset valuations.

The landscape of the institutional market has changed rapidly during this time. The effect of a changing financial climate in the wake of the credit crisis and global financial difficulties has had far reaching consequences in the hedge fund market.

Preqin’s latest complimentary research report investigates current institutional investor attitudes towards private equity funds and their plans for the future. The report is based on a survey of 100 significant institutional investors in private equity located across the globe.

In a recent Preqin survey, 70% of institutional investors stated plans to make further unlisted infrastructure fund commitments in the coming 12 months, up from 40% in October 2009. This increased investor confidence is shown in recent fundraising figures, with 15 infrastructure funds reaching a final close so far in 2010, raising an aggregate $18.7bn. This is already more than double the $7.8bn raised in the whole of 2009.

There was an increase in aggregate capital raised in Q3 2010 from the previous quarter of 14%, with 19 funds closing with aggregate commitments of $8.7 billion.

An examination of the venture capital industry, including how the industry has performed, the size and scope of active firms worldwide, latest fundraising statistics and the views of institutional investors on venture capital allocations.

In September 2010, the Atlandes consortium was named as the preferred bidder for the A63 Highway concession, a 105-mile toll road stretching between Salles and Saint-Geours-de-Maremne in Southwest France.

Asia is a burgeoning region for institutional investors with an appetite for hedge funds. Many investors in hedge funds from Asia have diversified into the asset class only recently, following turbulence in equity markets and a growing number of opportunities in this segment of the market.

The number of funds raised by European-based firms peaked in 2007, when 44 funds were raised by managers in the region. Aggregate commitments peaked at €6.7 billion in the same year.

Market neutral hedge funds are a preference of 11.7% of the institutional investors on Preqin’s Hedge Fund Investor Profiles database. There has been a drop in their popularity amongst institutional investors over the past year as investors have rebalanced their portfolios, moving away from market neutral strategies into other hedge fund strategies such as global macro.

The latest information on private equity performance as of March 31st 2010. Includes one year, three year and five year returns; plus data showing change in fund NAVs.

The unlisted infrastructure industry is going through a period of transition.

Over 60% of respondents in the latest Preqin hedge fund investor survey stated that fund terms and conditions had become more favourable for the investor in the last 12 months.

An update of real estate fundraising in August.

An update of infrastructure fundraising in September.

An examination of private equity performance for buyout funds based on size. We look at measuring and comparing returns generated by mega, large, mid-market and small vehicles.

Preqin recently surveyed over 160 institutional investors in order to uncover the key issues currently affecting the private real estate asset class.

An in-depth look at European banks and why they are an important source of capital for hedge funds throughout the world.

An update on unlisted infrastructure deals occuring around the world.

An in-depth look at investors in FX/currency funds as the strategy has become increasingly attractive to institutional investors.

A look at real estate fund managers based in Asia Pacific.

We interview over 60 institutional investors in infrastructure to uncover the biggest issues facing the industry at present.

Using Preqin’s extensive data on terms and conditions taken from the newly released 2010 Preqin Fund Terms Advisor publication, it is possible to assess the level to which new funds are adhering to a selection of quantifi able ILPA ‘best practices’.

Preqin surveyed 50 leading institutional investors from around the world in order to ascertain their plans for hedge fund investments in the next twelve months.

Approximately 54% of all hedge fund investors on Preqin's database are US-based.

While the African private equity market is yet to achieve landmark status on the global alternatives map, evidence suggests that the sector is expanding and new funds are rapidly increasing in both size and reach.

Fundraising hit a new five-year low in  Q2 2010, when 20 private equity real estate funds closed having raised an aggregate $7.3 billion.

There have been significant changes in the hedge fund industry over the last two years. Institutional investors now constitute a significant proportion of the investors in hedge funds and their demands for transparency, liquidity and better fee terms are shaping the industry as it emerges from the financial crisis.

There has been a significant fall in the number and aggregate value of funds successfully raised in the private equity real estate market since the onset of the global economic downturn.

A look at the latest real estate fundraising statistics.

An overview of private equity backed deal-flow in Q2 2010, including splits by industry, size, region plus details on biggest deals and exits.

Research report showing all the key statistics on private equity fundraising in Q2 2010.

The latest information on private equity performance as of December 31st 2009. Includes one year, three year and five year returns; plus data showing change in fund NAVs.

According to Preqin’s database, there has been an upsurge of interest in event-driven hedge funds in 2009, which has carried over into 2010.

In this survey we set out to better understand how institutional investors are selecting hedge funds, and what their preferences are for finding out about new opportunities.

A look at US-based real estate fund managers.

Real estate funds of funds play an important role in the private real estate market as a whole, acting as key investors for fund managers and allowing smaller institutions, which lack the capital or resources to construct their own fund portfolios, to gain real estate exposure diversified by strategy, geography and property type. This Special Report investigates the latest industry trends.

Following the onset of the financial crisis, late 2008 and early 2009 saw a number of institutional investment portfolios enter a state of disharmony and distress.

Since the emergence of unlisted infrastructure funds in the 1990s, private investment in infrastructure has grown rapidly with a variety of institutional investors and fund managers entering the marketplace. Infrastructure is now by a majority of investors viewed as a separate independent asset class, but the evolution of the sector is far from complete.

Infrastructure fundraising in May 2010

An update of private equity real estate fundraising.

Research report exploring investor attitudes towards private equity secondaries.

Real estate funds of funds play an important role in the private real estate market as a whole, acting as key investors for fund managers and allowing smaller institutions, which lack the capital or resources to construct their own fund portfolios, to gain real estate exposure diversified by strategy, geography and property type.

This month we examined investors in multi-strategy hedge funds. Only a relatively small proportion of the institutional investors on the Preqin database,16%, state a preference for such vehicles, with most investors either investing in funds of funds in order to diversify their portfolios or preferring to invest in a range of strategy-specific funds instead.

There are over 2,600 private equity firms headquartered in the US and over two-thirds of these are located within six states. New York, California, Massachusetts, Texas, Illinois and Connecticut are the biggest states in terms of number of private equity firms and the amount of capital raised by such firms over the last 10 years.

In May 2010, Zachry Hastings Infrastructure Fund, Utilities Trust of Australia and The Infrastructure Fund purchased a combined 55% stake in the Freeport LNG Terminal, a liquified natural gas (LNG) receiving and regasification terminal located in Texas. 30% was bought from Cheniere Energy and the remaining 25% from an unidentified seller. Venable acted as the legal advisor to the purchasing consortium.

Preqin has recently introduced a new performance benchmark for secondaries funds, aiming to bring increased transparency to the private equity market. With about 200 funds raised historically, secondaries is a relatively small but growing sector within the private equity industry. Holding performance data for 120 secondaries funds, accounting for 79% of the aggregate capital raised by such funds, we have been able to calculate comprehensive benchmarks for the sector.

The number of funds raised by value added fund managers peaked in 2007, when 115 funds raised aggregate commitments of USD 49 billion.

Despite the recent growth in the infrastructure fundraising market, infrastructure deal volume continues to be restricted by the effects of the financial crisis.

There was a significant increase in the proportion of UK public pension schemes investing in hedge funds over the course of 2009 a trend that continued into the first half of 2010. Today 53% of all UK public pension funds invest in hedge funds, a significant increase from Q1 2009 when only 38% had exposure to the asset class.

The boom in private equity real estate fundraising prior to Q4 2008 saw increasing amounts of capital committed to the asset class. However, following the global financial crisis and severe declines in property prices, the number of completed deals has fallen significantly. With a median investment period for real estate funds of three years, many fund managers are now approaching the end of their investment periods with large amounts of capital yet to be invested. For example, vintage 2007 funds have $67 billion in uncalled capital available for investment.

Preqin's latest complimentary Research Report provides an overview of trends in sovereign wealth fund activity, along with key statistics and a league table showing the top 25 institutions by assets under management.

The first quarter of 2010 was another slow quarter for private equity real estate fundraisin, with 12 funds reaching a final close, receiving aggregate commitments of $9.8 billion. 

Preqin's latest complimentary research report provides an overview of market conditions, along with vital research on secondaries pricing, buyers, sellers and intermediaries.

This report examines how the levels of fundraising fell as many investors were either unable or unwilling to make new investments in private equity, as the denominator effect left significant numbers of LPs over-allocated to the asset class and a lack of distributions from portfolio holdings exacerbated this situation.

Since 2005, the number of private equity funds that include cleantech investments as part or all of their strategy scope has grown significantly. Preqin examines this growing sector.

This report examines the returns of distressed debt, turnaround and special situations funds.

This report features an in-depth look at Q1 2010 private equity fundraising and also first quarter deal-flow for buyout funds.

2010 Infrastructure Fundraising Eclipses 2009 Levels: $11.7 billion raised by April 2010 already surpasses the total capital raised in 2009 ($7bn). However, fundraising remains challenging and infrastructure deal volume is limited.

Global private equity real estate fundraising increased slightly for funds closed in Q1 2010 compared to the previous quarter. This research report looks at the number and type of funds closed in the quarter.

Preqin research report looking at distressed and debt real estate funds and fundraising.

Preqin carried out a survey of hedge fund managers and fund of hedge funds managers to assess how the market crisis had resulted in a shift of power from managers to investors and how this in turn affected the terms and conditions of hedge funds and funds of hedge funds.

Since the onset of the financial crisis, distressed and debt strategies have grown in importance within the private real estate industry. Preqin research reveals a growth in the proportion of funds employing debt and debt strategies, and also in the number of investors seeking to add funds of this type to their portfolio.

Private equity fundraising shows slight improvement in Q1 2010: $50.4bn raised in Q1 2010 represents a 5% improvement from Q4 2009.

There are currently 382 private equity real estate funds in market, targeting aggregate commitments of $154 billion.

Global private equity-backed deals at $26.6bn for Q1 2010 with a total of 307 PE backed deals announced in Q1 2010.

Preqin surveys 34 family offices from around the world in order to ascertain their feelings towards the private equity market.

Core-plus funds provide investors with the opportunity to invest in moderate-risk real estate vehicles that provide moderate returns. In this fact sheet we examine the current core-plus fundraising market.

The latest information on private equity performance as of September 30th 2009. Includes one year, three year and five year returns; plus data showing change in fund NAVs.

2010 is set to see many private equity real estate fund managers that held off making new deals last year resume investment activity. We look at the key areas they will be investing in.

UCITS III compliant funds have seen a a growth in interest from both investors and fund managers in recent times. We conducted a survey of both of these groups in order to see what the future holds for this market.

Market Recovery in 2009 Helps Some Funds to Increase AUM - Preqin’s latest report, the 2010 Preqin Sovereign Wealth Fund Review, reveals that the aggregate total assets of all sovereign wealth funds (SWFs) has continued to increase over the past year.

Our complimentary Research Report shows information on benchmarks based upon data for 4,808 funds of all types from around the world.

Our complimentary Research Report shows information on benchmarks based upon data for 636 global buyout funds of vintages 1990 to 2008 as of 31st December 2008.

The latest private equity real estate fundraising figures, with a special focus on Asia and Rest of World-based vehicles currently on the road.

Figures from Preqin’s database indicate a 33% growth in the number of investors interested in distressed securities from 2008, making it one of the fastest growing strategies in terms of institutional investor interest. This fact sheet examines how the once-niche investment style of distressed securities is increasingly attracting mainstream investors.

As the hub of the hedge fund industry, the US provides diverse investment options for investors. As a result, 29% of all European hedge fund investors on the Preqin database state US-based hedge funds as a preference.

In Q4 2009, Preqin carried out a survey of 90 institutional private equity real estate investors to investigate their attitudes towards private equity real estate and their intentions for the asset class in 2010.

In January 2010 Preqin carried out a survey of 50 institutional investors to determine current demand for managed accounts. Concurrently, Preqin surveyed 60 fund of funds managers to ascertain the present supply of managed accounts in the hedge fund industry.

Results on private equity real estate fundraising in 2009 and results from Preqin's survey on investor appetite for real estate in 2010.

In order to assess LP appetite for private equity in the year ahead, we surveyed 106 significant institutional investors selected from Preqin’s industry-leading Investor Intelligence database of 4,000 LPs.

First drop in annual deal volume since emergence of unlisted infrastructure asset class as unlisted infrastructure fund managers across the globe completed 130 deals in 2009, the lowest annual total since 2005.

The effects of the changing credit market and global economic downturn on different areas of the buyout industry can now be seen through examining the performance of different sized vehicles since the onset of the financial crisis in the third quarter of 2008.

Private equity fundraising has had its worst year since 2004, with only $246bn raised by 482 funds worldwide. This is 61% down on the $636bn raised in 2008, and 62% down on the record $646bn raised in 2007. Q4 2009 represents a low point for the year, with only $35bn raised by 75 funds – the lowest quarterly total since Q3 2003.

Preqin examines how the secondary market has grown significantly in recent years, with transaction volume reaching a record high $20bn in 2008. However, this figure can still be considered relatively low, given that it represented less than 1% of the size of the entire private equity industry.

The number of firms active in private equity real estate has grown consistently year on year since the emergence of this specific sector of the private equity industry. Preqin's research report uses data on hundreds of employees actively employed by over 50 leading private equity real estate firms worldwide.

Preqin’s online database, Hedge Investor Profiles, currently holds information on 2,500 institutional investors worldwide that are either actively investing, or considering investment, in hedge funds. Preqin examines the breakdown of investor universe by investor type and by region.

Using data from Performance Analyst, Preqin has analysed the returns generated by private equity partnerships as at 30th June 2009 in order to provide an independent and unbiased description of the industry performance.

The number of active private equity firms has grown steadily year on year since the emergence of the industry. Preqin's research report uses data on hundreds of employees actively employed by over 50 leading private equity firms worldwide. It also includes the results of our detailed survey on all different aspects of compensation practices.

Using data from Performance Analyst, Preqin has analysed the returns generated by private equity partnerships as at 31 March 2009 in order to provide an independent and unbiased description of the industry performance.

Endowments are a prominent type of investor in private equity, typically allocating over 11% of their assets under management to the asset class. In order to understand their current sentiment towards the private equity market Preqin has undertaken a detailed survey and analysis of the investor type.

The past year has seen a dramatic turnaround in the fortunes of the private equity real estate market. Our latest complimentary research report investigates the scale of this change, and examines whether recent poor fundraising performance represents a short term hiatus or long term shift in investor attitudes towards the asset class.

In October 2009 Preqin surveyed 42 leading institutional investors in infrastructure from around the world as to their opinions towards the current unlisted fund market.

Preqin's investor survey on various issues key to the hedge fund industry today.

Results on private equity real estate fundraising over Q3 2009.

Insurance companies are an important institutional investor group within the private equity industry, and are amongst the biggest and most important backers of funds.

In order to understand their current sentiment towards the private equity market Preqin has undertaken a detailed survey and analysis of the investor type.

Preliminary results on private equity fundraising over Q3 2009.

Preqin is today releasing a short research report looking at trends in private equity fundraising activity in the life science market. We uncover how much capital has been raised, who the big players are, and which institutional investors have been committing to new funds.

How much dry powder is there available for investment in real estate projects and where it will be invested?

Preqin has produced this research report in order to assess the potential impact of the proposed changes in the private equity industry that would be brought about by the introduction of SEC proposed rule release IA-2910 relating to the introduction of Advisers Act Rule 206(4)-5.

We surveyed 50 leading US institutional investors to gauge their opinions on the banning of political contributions from investment advisors and the banning of placement agent use by investment funds seeking support from public pension plans.

The private infrastructure market has grown dramatically in recent years, with fundraising recently reaching record levels following a surge in interest from institutional investors. However, in the first half of 2009, fundraising has collapsed. What has caused this dramatic change, and what is the outlook for the asset class?

Scandinavian-based private equity real estate is a significant part of the global market, with a number of large firms based in the region. This fact sheet will highlight a few of the key players as well as some interesting trends and statistics.

Key stats and facts on Convertible Arbitrage including information on investor interest in the strategy.

As a result of the global economic downturn investors have had to review their investment portfolios in light of more testing circumstances. The viability, strengths and weaknesses of holdings within real estate private equity portfolios have come under scrutiny from investors looking to circumvent, soften or even benefit from instability caused by the economic downturn. This has led to a dramatic increase in the number of investors seeking to both sell and also buy interests on the secondary private equity real estate market.

Our complimentary Research Report shows information on benchmarks based upon data for 756 global venture funds of vintages 1980 to 2008 as of 31st December 2008.

This special report reveals investor sentiment towards private equity at the midway point of 2009. Contains the results of a survey of 100 institutional investors in the asset class.

We examine the future of the mega fundraising market, and make some predictions for fundraising in the second half of 2009.

Our complimentary Research Report shows more information on the latest trends fees for hedge funds, all based upon an extensive survey carried out in April - June 2009 involving both single manager fund managers and funds of funds, across a wide variety of strategies, global regions and total AUM.

Using Preqin's Fund Manager Profiles product, we examine some of the key stats and facts for New York's buyout firms.

As the year has progressed, conditions have improved, and Q2 fundraising was 25% up on Q1, reaching an aggregate $80bn. However, with over 1,600 funds still on the road, competition remains intense. Our latest complimentary research report outlines the full details of the latest fundraising activity in Q2 2009.

The terms of private equity funds are a top consideration for investors currently in the market for new investments. Following the onset of the credit crunch there has been considerable pressure from investors demanding lower fees. In this complimentary research report, we outline the full details of how conditions have changed since September of 2008.

Over the course of 2009 Preqin has been building up its data and information on the PE cleantech industry, and is releasing a complimentary research report which outlines some of the key findings.

Our latest complimentary research report outlines the full details of the latest fundraising activity in Q1 2009, and outlines our predictions for the coming year.

The credit crunch had a negative effect on fundraising for the final quarter of the year, with capital raised during the final three months significantly down on the levels experienced in recent years. The Q4 fundraising update gives all the details, plus an overview of fundraising for the whole year.

On November 18th – 19th Preqin had the privilege of taking part in the 2008 Private Equity World MENA conference in Dubai, run by Terrapinn. Coming so soon after the market dislocations of October, and in the midst of the renewed turbulence in November, this was a great opportunity to gauge the sentiment of 281 leading institutional investors, private equity firms and advisors active in the MENA region. Together with Terrapinn we used the opportunity to conduct a series of participant polls to assess how these key players see the current situation and prospects for
private equity over the short and medium term.

Hedge Fund Special Research Report: Make-up of Institutional Investor Universe by Type and Institutional Investors Attitudes to Hedge Fund Investing.  This month’s research report is taken from our latest publication - the 2009 Preqin Global Hedge Fund Investor Review. In it we ask why institutional investors are investing in hedge funds and their attitude to the asset class in 2009 and beyond.

Advisors are an integral part of the private equity landscape, and maintaining a good relationship with these custodians of investor capital should be a major consideration for all professionals involved in fund marketing and IR. We undertook a study showing which types of investors are utilising their services and what advice has being given since the credit crunch.

Investors have seen all asset classes suffer during the recent market turmoil, and the long-term outlook remains highly uncertain. In order to assess the impact on institutions’ private equity programs, and their future intentions for the asset class, Preqin’s LP Survey team has undertaken a survey of current LP opinion and sentiment.

The credit crunch is beginning to have a serious effect on fundraising, with the number and value of vehicles raised in Q3 2008 falling significantly in comparison with recent times.

Despite continuing problems in the credit markets, private equity fundraising has continued at a strong pace in terms of capital commitments, with a total of $170 billion committed during Q2 2008. Although fundraising has maintained a strong pace in terms of aggregate commitments raised, the number of vehicles achieving a final close has fallen considerably from earlier quarters, and is still falling well short of the required level to bring stability and equilibrium to the fundraising market.

Hedge Fund Special Research Report: The Growing Appetite of Institutional Investors for Emerging Manager Hedge Funds. In this month’s Preqin Hedge research report we conducted a survey of over 50 institutional investors (excluding fund of hedge funds) in hedge funds to find out more about their appetite for emerging manager hedge funds.

Hedge Fund Special Research Report: The Growing Influence of Institutional Investors in Hedge Funds: Results of Hedge Fund Manager Survey. In this month’s Hedge Fund Research Report we have surveyed 50 hedge fund managers to find out about their institutional client bases and the changes this has led to in their firm. Managers were interviewed from across the spectrum of strategies and styles, varying in AUM, track record and location.

With the recent well-publicised turbulence in the global credit markets, many commentators have questioned whether the time is ripe for distressed debt and special situations funds to prosper. Whilst it is indeed true that the prospects for these investment strategies look better than ever, the reality is that these funds have already been enjoying great success for quite some time, with stellar returns for LPs and strong fundraising conditions for GPs.

Hedge Fund Special Research Report: Institutional Investors in Hedge Funds Remain Positive. Over recent years the levels of institutional investor interest in hedge fund vehicles has risen to previously unparalleled levels, with institutional capital now accounting for 40% of all commitments made to the hedge fund asset class. Traditionally more reliant on commitments from high-net-worth individuals, hedge fund managers are now having to adapt their products in order to appeal to this increasingly vital source of capital.

Hedge Fund Special Research Report: Institutional Investors set to Invest $85bn into Hedge Funds. Towards the end of the last century the majority of commitments made to hedge fund vehicles were coming from high-net-worth individuals. With institutional investors worldwide increasing their allocations to alternatives, the hedge fund industry is receiving greater levels of backing from investors of this type than at any other point in the history of the asset class. In order to maintain these levels of support, the industry must adapt in order to respond to the demands and requirements of these new investors.