Preqin’s Funds in Market product reveals that there are 856 North American-focused funds currently in market seeking an aggregate USD 332 billion in capital commitments. Real estate funds account for the largest number of funds on the road, with 271 vehicles currently seeking capital and are also targeting the largest aggregate amount of capital of over USD 90 billion. Venture capital funds are the second most numerous, with 186 currently raising, followed by buyout funds with 110 vehicles. Venture capital funds are targeting over USD 27 billion in aggregate capital commitments and buyout funds have an aggregate target of USD 86 billion.
Between January and December 2011, there have been 265 final closes achieved by North American-focused funds, with just under USD 139 billion raised in aggregate capital commitments. The largest amount of capital raised has been through buyout funds, collectively raising almost USD 33 billion in capital through 45 vehicles. There have been 49 venture capital funds closed raising over USD 13 billion and 53 real estate funds raising over USD 26 billion in capital commitments.
The largest fund currently on the road is Blackstone Real Estate Partners VII, a real estate fund targeting USD 10 billion. The fund began fundraising in April 2011 and aims to invest globally, acquiring high quality assets by taking large, complicated situations where competition is limited and its ability to move quickly is an advantage. Lexington Capital Partners VII is the largest fund to close so far this year by achieving their final close of USD 7 billion in capital commitments in June. Lexington Capital Partners VII is a secondaries fund looking to purchase LP stakes primarily in established global buyout, venture capital and mezzanine funds through secondary transactions.