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Private Equity Buyout Dry Powder – May 2013

by Stuart Hunter

  • 01 May 2013
  • PE

Preqin’s Fund Manager Profiles shows the amount of estimated global private equity buyout dry powder increased by 174% from $177bn in December 2004 to $485bn in December 2008. Since the end of 2008, estimated uncalled capital for buyout fund managers has fallen year on year to $355bn in December 2012, but has increased slightly to $366bn in available dry powder as of May 2013.

North America-focused private equity buyout funds have the highest amount of dry powder, with $187bn as of May 2013 and remains 31% below its peak of $270bn in December 2009. Europe-focused private equity buyout funds currently hold $124bn in dry powder as of May 2013, an increase of just fewer than 7% from $116bn of committed capital available to invest as of December 2012. Asia and Rest of World-focused private equity buyout funds have an estimated $55bn in dry powder as of May 2013, 6% more than the estimated dry powder available as of December 2012.

According to Preqin’s Fund Manager League Tables, the fund manager with the largest amount of buyout dry powder currently available is Kohlberg Kravis Roberts, with an estimated $15bn. Kohlberg Kravis Roberts has the following funds in market: KKR Special Situations Fund, KKR North American XI Fund and KKR Asia Fund II, which have all held at least one interim close. Blackstone Group follows with an estimated $13bn in committed capital available for investment, whilst Advent International has the third highest amount, with an estimated $12bn in available buyout dry powder.

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