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Growth Funds in Market – October 2012

by Stuart Hunter

  • 15 Oct 2012
  • PE

There are currently 210 growth investment vehicles on the road collectively seeking $65.7bn in capital commitments, according to Preqin’s Funds in Market database. Of these funds, 25 mainly focus on investments in companies located within Europe, 22 primarily invest in North American opportunities, and the remaining 163 funds target investments across Asia and Rest of World. Twenty-one percent of all growth funds in market are being raised by China-based fund managers, representing 27% of the overall targeted capital.

Of these 210 growth funds in market, 83 have already held at least one interim close, raising an aggregate of $9.1bn in capital commitments. Thirty-three of these growth funds have had an interim close since the beginning of 2012. The average target size of all growth funds currently in market is approximately $312.7mn.

The three largest growth funds in market are Actis 4, CDH China Fund V, and Pine Brook Road Partners II. Actis 4 is targeting $3.5bn in capital commitments and seeks investment opportunities in Africa, ASEAN, Central America, South America, China, and India. CDH China Fund V aims to raise $2bn in commitments for investment primarily in China-based companies, while Pine Brook Road Partners II also seeking $2bn focuses exclusively on investments in North America.

Over the past 12 months, 44 growth funds have held a final close, collecting an aggregate $11.3bn in capital commitments. The average final close size of the 44 vehicles is $290.4mn, with 13 of these funds being raised by China-based fund managers, which account for 33% of capital commitments collected by growth funds closed so far 2012. 

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