The $38bn in aggregate capital raised by funds holding a final close in Q3 2009 represents a significant drop from earlier this year, with Q3 figures equivalent to just 45% of the $84bn raised in Q2 2009. In comparison with the recent record-breaking quarters seen in 2007, the drop is even more steep – with Q3 2009 figures equivalent to just 18% of the record $208bn raised in Q2 2007.
The number and aggregate fundraising target of funds in market has also dropped considerably over the course of 2009. The aggregate target has fallen by more than $130 billion from its $889 billion peak in January. This is due to a slowdown in new fundraising launches, and an increase in the number of fundraisings being put on hold or abandoned altogether. Preqin has data showing that up to 90 funds have abandoned their fundraisings so far in 2009.
For further details and statistics on Q3 2009 private equity fundraising, please see our latest research report.