Over the course of 2009, 136 funds primarily targeting Europe raised an aggregate $74 billion. This represents less than half, in terms of both the number of funds and total capital raised, of the 2008 figures, when 294 Europe focused private equity funds reached a final close, raising an aggregate $157 billion. During 2009, Europe focused funds accounted for slightly over 30% of the capital of all private equity funds raised worldwide.
European buyout funds raised $37 billion, half of the total raised by European funds in 2009. Real estate vehicles accounted for nearly 18% of the capital raised. Venture capital vehicles raised more than $5 billion, or 7% of the aggregate capital primarily targeting this region.
The average size of funds targeting Europe that closed in 2009 was $542 million, a slight increase on the average size in 2008 of $535 million. Over the course of 2009, there were eight Europe focused funds that recorded a final close on $1 billion or more. The largest was CVC European Equity Partners V, managed by CVC Capital Partners, which closed at over €10bn and accounted for over 19% of the capital raised by all Europe focused funds in 2009. It was followed by KKR European Fund III, which closed on €6 billion, and Charterhouse Capital Partners IX, which secured commitments totalling €4 billion.
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