Preqin research shows that there are over 500 first time private equity funds currently fundraising globally. Of this number, 6% are targeting capital commitments of over USD 1 billion. Approximately 11% of these private equity funds are targeting commitments of between USD 500 million and USD 1 billion.
The top five first time private equity funds in terms of targeted capital are comprised of LoanCore Capital fund, GP Capital fund, NN Advanced Property fund, Marguerite Fund and Blackstone Infrastructure Fund.
LoanCore Capital fund is a private equity real estate fund targeting USD 3 billion in commitments, jointly managed by US-based firm LoanCore Capital and DicoWest Properties. With distressed debt as its main strategy, it is aiming to provide liquidity in US private equity markets lacking capital, by acquiring debt or providing finance for the acquisition and development of new or existing properties. GP Capital fund is a Chinese government-backed private equity buyout fund. Targeting approximately USD 2.9 billion in commitments, its investments will focus on the financial services sector in China. NN Advanced Property fund is currently being raised by German-based Nauerz & Noell and its primary geographical focus is the Gulf region. Targeting USD 2.7 billion, the private equity real estate fund will also consider other emerging markets on an opportunistic basis.
Marguerite Fund and Blackstone Infrastructure Fund are both private equity infrastructure funds. Targeting capital commitments of USD 2 billion each, both are currently on their first interim close. Marguerite Fund is officially the 2020 European Fund for energy, climate change and infrastructure and has capital commitments from major European investors such as European Investment Bank, Caisse de Depots et Consignations, Cassa Depositi e Prestiti, KfW - Bankengruppe, Instituto de Credito Official and PKO Bank Polski, as well as the European Commission. Blackstone Infrastructure Fund is being raised by the infrastructure fund management arm of Blackstone Group, which has a long history of private equity investments in the infrastructure sector. Blackstone Infrastructure Fund, however, is the first dedicated infrastructure fund managed solely by Blackstone.
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