Preqin research shows that the top five private equity funds currently being raised in 2010 are Blackstone Capital Partners VI Fund, Madison Dearborn Capital Partners VI Fund, Morgan Stanley Capital Partners V Fund, Real Estate Turnaround Investment Program and Lexington Capital Partners VII Fund. Three of these private equity funds are buyout funds.
Blackstone Capital Partners VI Fund is the sixth private equity buyout fund in the series managed by corporate giant Blackstone Group, and its seventeenth private equity fund to date. Targeting $15bn and a final close in June this year, the fund has raised $9bn so far from a range of private equity investors including the top five public pension funds in the US. Madison Dearborn Capital Partners VI Fund, another buyout fund, is aiming for a balance between structured equity investments and buyouts, and is currently on its second close, with a target size of $7.5bn. This fund is currently the second largest private equity fund on the road.
Large and middle-market investor Morgan Stanley Private Equity is marking $6bn for its latest buyout fund, the third largest private equity fund currently being raised. Presently at 42% of its target, the fund is expected to invest globally with a primary focus on North America, Europe and Asia.
The fourth largest private equity fund currently being raised is Real Estate Turnaround Investment Program, which is being raised by a consortium led by Toronto-based global asset manager Brookfield. The private equity real estate fund will aim to invest a minimum of $500mn in equity commitments, and via debt, in undervalued real estate portfolios in North America, Europe, Australasia and Brazil. The fund is seeking $5.5bn in capital.
Lexington Capital Partners VII Fund is the fifth largest fund currently raising capital in the private equity fundraising market. The secondaries fund is seeking $5bn to purchase LP stakes primarily in established global buyout and venture capital funds and is using the services of the placement agent Park Hill Group.
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