Private Equity Funds of Funds in 2010

by Joe Childs

  • 08 Jul 2010
  • PE

As the overall level of fundraising in the private equity market continues to labour in its anticipated recovery, managers of funds of funds have also struggled under the difficult conditions. One-third of the number of funds of funds that had achieved a final close by the end of June 2009 have closed during the first half of this year. The $3.4 billion raised by funds of funds closing in the first six months of 2010 fell by 82% compared with the same period last year.

The number and value of interim closes held by private equity funds of funds provides a somewhat brighter picture for managers. 10 vehicles are known to have held interim closes during the second quarter of 2010, with managers of these funds having raised $2.1 billion so far. A total of 19 funds of funds held interim closes on an aggregate of $3.2 billion in the first six months of the year. Eight funds of funds that held interim closes totalling $754 million in the first half of 2009 are yet to report reaching a further interim close or a final close.

For further details of the private equity investment plans of all types of institutional investors, including fund of funds managers, please see how Investor Intelligence can help.

Continue browsing industry reports, publications, conferences, blogs and more on Preqin Insights