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Fundraising for Fund of Funds Vehicles in H1 2011

by Patrick Adefuye

  • 14 Jul 2011
  • PE

A total of 26 funds of funds held a final close in the first half of 2011, raising a total of EUR 3.9 billion. This is compared to the 31 vehicles that closed in the first half of 2010, raising a total of EUR 4.1 billion. 13 vehicles held a final close in the second quarter of 2011, the same number that closed in the first quarter of the year; however EUR 2.1 billion was raised in Q1, compared with a slightly lower total of EUR 1.7 billion in Q2. Of the funds of funds that closed in H1 2011, 14 have a primary focus on the US, while nine have a primary focus on Europe and three have a primary focus on Asia and ROW. The largest fund of funds vehicle to hold a final close in the first half of the year was Portfolio Advisors Private Equity Fund VI, which raised a total of EUR 763 million.

There are currently 146 fund of funds vehicles in the market seeking EUR 30 billion, with just under a third (32%) of these having held an interim close. The largest fund of funds vehicle currently in market seeking capital is HarbourVest International VI Partnership, which is looking to raise a total of EUR 2.1 billion.

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