North American Fundraising 2011 as of August

by Adam Counihan

  • 22 Aug 2011
  • PE

There are currently 798 North American-focused funds being raised, seeking an aggregate $329 billion in capital commitments. Real estate funds account for the largest number of funds on the road, with 262 vehicles currently seeking capital, and are also targeting the largest aggregate amount of capital - $89 billion. Venture funds are the second most numerous, with 171 currently raising, followed by buyout funds with 106. Venture funds are targeting an aggregate $27 billion and buyout funds have an aggregate target of $83 billion.

In 2011 to date there have been 168 final closes achieved by North American-focused funds, with a total of $95 billion in capital commitments collected. The largest amount of capital has been raised by buyout funds: 28 such funds have closed during the year with a total of $21 billion in commitments. 27 venture funds have raised $9 billion and 29 real estate funds have closed with $14 billion in commitments.

The largest fund currently on the road is Blackstone Real Estate Partners VII, which has a target of $10 billion. This buyout fund, launched in April 2011, is expected to invest globally, making opportunistic investments, acquiring high quality assets by taking large, complicated situations where competition is limited and its ability to move quickly is an advantage.

The largest fund to close so far this year is Lexington Capital Partners VII, which achieved a final close of $7 billion in June. This secondaries fund will looks to purchase LP stakes, primarily in established global buyout, venture capital and mezzanine funds. The fund is also interested in purchasing co-investments and has the ability to acquire direct investments in operating companies through secondary market purchases, facilitate the spin-out of established private equity teams from banks and corporations, and invest in newly formed private equity funds.

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