The volume of estimated global buyout dry powder increased significantly between 2004 and 2008 according to Preqin’s Fund Manager Profiles data, with $177.4bn available to buyout fund managers in December 2004 and $488.3bn available at the end of 2008. However, estimated dry powder for buyout fund managers has decreased since that period, with $485.9bn available in December 2009 and $378.9bn as of July 2012.
In terms of estimated dry powder by region, North America-focused buyout funds have the most available, with $203.1bn as of July 2012. This is a slight increase of 2.6% from the $197.9bn available in December 2011. Europe-focused buyout funds are sitting on $121.5bn of committed capital available for investment as of July 2012, down from a peak in December 2008 when this region’s buyout funds had an estimated $167bn available. Buyout funds focused on Asia and Rest of World have an estimated $54.4bn in dry powder to draw from as of July 2012, a small increase on the $47.1bn available as of December 2011.
Blackstone Group has the most dry powder currently available, with an estimated $14.2bn on hand. Kohlberg Kravis Roberts ranks second, with an estimated $12.3bn in committed capital available. Advent International has the next largest amount of estimated dry powder available, with $11.8bn.