Preqin’s research reveals that there are 1517 private equity vehicles fundraising at present. They are targeting aggregate capital commitments of USD 563 billion. 32% of these funds have already had at least one interim close attracting an aggregate USD 171 billion.
In terms of the number of vehicles currently on the road nearly half (46%) targets North American market, 30% focuses mainly on investments in Asia and Rest of World region, whilst almost a quarter of the funds seeks investment opportunities primarily in Europe.
The most numerous funds are the venture vehicles. There are currently 450 venture funds in the road seeking an aggregate USD78 billion in capital commitments. Nonetheless, in terms of the capital being sought, real estate funds take the lead with nearly USD 134 billion being targeted by 380 vehicles.
The average size of private equity fund on the road at present is USD 371 million. The largest fund currently in market is Blackstone Capital Partners VI, a buyout vehicle seeking USD15 billion. It is followed by another buyout fund, Morgan Stanley Capital Partners V. The fund is aiming to raise USD6 billion and is expected to invest globally with primary focus on North America, Europe and Asia. The third biggest vehicle currently in market is Real Estate Turnaround Investment Program managed by Brookfield Asset Management. The fund targets investments in equity and debt in under-valued real estate companies or real estate portfolios where value can be created for stakeholders in a variety of ways, including financial and operational restructuring, strategic direction or sponsorship, portfolio repositioning, redevelopment or other active asset management.
For more information on private equity fundraising, please see Preqin’s Funds in Market