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Private Equity Buyout Funds in Market – October 2012

by Laura Duce

  • 01 Oct 2012
  • PE

There are currently 259 private equity buyout vehicles on the road, collectively seeking $219.8bn in capital commitments. Of these funds, 139 focus on North American investments, 63 funds predominantly focus on Europe, and 57 funds primarily invest in Asia and Rest of World regions. Fifty-eight percent of all private equity buyout funds in market are being raised by US-based fund managers, accounting for approximately 63% of the collective target size of the 259 buyout vehicles on the road. Twenty-two of these private equity buyout funds are being raised by UK-based fund managers, accounting for almost 17% of the collective target.

Of these 259 private equity buyout funds in market, 108 have already held at least one interim close, and their aggregate capital commitments currently stand at $54bn. Sixty of these private equity buyout vehicles have held an interim close this year. The average target size of all private equity buyout funds currently raising capital is $849mn.

The three largest private equity buyout funds in market are Apax VIII, Carlyle Partners VI, and KKR North American XI Fund, which are targeting €9bn, $10mn, and $10mn respectively. Apax VIII has a focus on Europe, and is split into two separate vehicles to allow investors to commit in either US dollars or euros to help alleviate currency fluctuations for non-euro investors. The fund has a diversified industry focus. Carlyle Partners VI focuses on investments in North America across a variety of industry sectors. KKR North American XI Fund also makes investments in North America, with a diversified industry sector focus. It makes investments of between $300mn and $800mn.

Over the past 12 months, 107 private equity buyout vehicles have held a final close, collecting aggregate capital commitments of approximately $88.1bn. The average final close size of these funds was $823mn, and 57% of these funds were focused on North America, accounting for 51% of aggregate capital raised.

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