Friday, 25 July 2014
Last updated 2 hours ago
Jul 9 2008 | 9:31am ET
Despite woes in the buyout market, private equity fundraising continues apace. In the first six months of 2008, U.S. p.e. firms raised $132.7 billion across 185 funds, just 3% less than the $137.2 billion raised by 199 funds during the first half of 2007, according to Dow Jones Private Equity Analyst.
Leveraged buyout fundraising declined 20% compared to the same period last year, as such firms raised only $85.5 billion across 75 funds, down from $107.6 billion raised in 91 funds. Seven “mega firms,” defined as firms raising funds of $6 billion or larger, raised $36.6 billion, only a bit below the $37.4 billion raised by eight mega firms last year.
According to Dow Jones, mezzanine fundraising set a new first half record with $24 billion raised by seven firms, thanks almost entirely to Goldman Sachs Capital Partners' record $20 billion GS Mezzanine Partners V, which includes $7 billion of leverage. Meanwhile, venture capital fundraising increased by 15% to $11.5 billion raised by 72 funds from $10 billion raised by 62 funds last year.
Warburg Pincus closed the largest buyout fund of the first half with its $15 billion Warburg Pincus Private Equity X. The largest venture capital fund belonged to Lightspeed Venture Partners, which raised $800 million for its Lightspeed Venture Partners VIII.
European p.e. firms saw an upswing in investment in the first half of 2008, the newsletter reported, with nearly $61.1 billion invested in 80 funds, a 16% increase over the $52.5 billion invested in 81 funds during the same period last year. Buyout funds accounted for $54.8 billion, or nearly 90% of Europe's fund-raising total.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…