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Private Equity Buyout Dry Powder – January 2013

by Louise Maddy

  • 09 Jan 2013
  • PE

According to Preqin's Fund Manager Profiles product, the amount of estimated global private equity buyout dry powder increased dramatically between 2004 and 2008. There was $176.9bn available to buyout fund managers in December 2004, and $487.2bn at GP’s disposal at the end of 2008, representing a 175% increase. Since the end of 2008, estimated uncalled capital for buyout fund managers has decreased year on year, with $486.7bn available in December 2009 and $360.1bn in January 2013.

North America-focused private equity buyout funds have the most available dry powder, with $189.4m as of January 2013. This represents a decrease of 12% from the $215.7bn available in December 2011. Europe-focused private equity buyout funds are sitting on $117.4bn of committed capital available for investment as of January 2013, a marginal decrease from the $122.5bn in December 2011.  Asia and Rest of World-focused private equity buyout funds have an estimated $53.3bn in uncalled capital as of January 2013, $0.6bn less than the dry powder available to the region as of December 2011.

The fund manager with the largest amount of dry powder currently available is Advent International, with an estimated $13.34bn, which can largely be attributed to the second largest private equity fund closure of 2012 - Advent Global Private Equity VII, which closed on €8,500mn ($10,803mn), €1.5bn above target. Blackstone Group follow with $13.30bn available in estimated uncalled capital and Kohlberg Kravis Roberts is third with $12.15bn available in estimated dry powder.

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