In Q2 2009, 17 buyout funds raised a total of $30.1 billion in aggregate commitments; fewer funds than in the first quarter, but a larger aggregate total. Specifically, aggregate commitments of $30.1 billion represented an increase of almost 11% from the previous quarter. Still, the figure is 56% lower than the $68.3 billion raised in Q4 2008. These results show that the pace of economic recovery is still uncertain and the fundraising market for buyout vehicles is still very difficult.
Four of the 17 funds that reached a final close in Q2 2009 had an initial target above $3 billion. One of these funds was KKR European Fund III, which had been in the market since mid 2007 and managed to attract €6 billion in capital commitments. Other notable very large buyout funds to reach a final close were Charterhouse Capital Partners IX and Lindsay Goldberg - Fund III.
For more information on private equity fundraising, please see our Funds in Market service.