North America Private Equity Fundraising in 2009

by Ben Formela Osborne

  • 15 Feb 2010
  • PE

In 2009, 228 North America focused private equity funds reached a final close raising an aggregate $144.7bn, a decrease from the $366.1bn committed to 519 funds in 2008. In spite of this, North America focused funds accounted for over 58% of all private equity capital raised globally during 2009.

North American focused buyout funds raised the most capital of all fund types targeting this region in 2009, with 42 funds raising an aggregate $57.8bn in capital commitments, half what was accumulated by 100 buyout funds in 2008. 75 venture funds targeting investments in North America raised approximately $15bn in 2009, 10.8% of total North America focused capital raised. Venture commitments were down significantly from 2008 when venture funds focused on North America raised over $24bn from 121 vehicles, just over 6.5 % of all private equity capital raised that year.

The average size of closed private equity funds targeting North America in 2009 was $634mn, a 10% decrease on the average fund size in 2008 of $705mn. In 2009, 35 North America focused funds raised $1bn or more, while in 2008 there were over 130 private equity funds that closed on or above the $1bn threshold. The largest of the funds that closed in 2009 was the $8.82bn First Reserve Fund XII, a natural resources vehicle which raised approximately 6% of all capital by funds targeting North America. This was almost matched by Hellman and Friedman’s seventh buyout fund, which measured $8.8bn in size closing well above its $7bn target.

For more information on private equity fundraising, please see Preqin’s Funds in Market online product.

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