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US Funds Stay Hefty In 2008
Study shows that PE funds raised are still strong.
July 8, 2008
While financing troubles have made PE buys increasingly difficult to complete, a study by Dow Jones Private Equity Analyst shows that, despite expectations, funds raised this year by PE firms have not substantially declined.
During the first half of 2008, $132.7 billion was raised by PE firms in the U.S., compared to $137.2 billion raised during the first months in 2007.
Recent mid-market funds raised include Advent International’s $10.4 billion mid-market buyout fund. The fund, which closed in April, made history as the largest mid-market buyout fund. In June, the UK Universities fund announced a $750 million mid-market private equity investment.
In addition, Silver Lake closed its middle-market technology buyout fund at $1.1 billion and Pfingsten Partners closed a $525 million middle market fund, both in May.
Meanwhile, European private equity investments rose 16% in 2008 from the first six months of 2007. European funds raised $61.1 billion, compared with $52.5 billion invested in 2007. In addition, the Dow Jones Private Equity Analyst report shows that LBO funds dropped 20% in 2008 from the same period of 2007.
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