Big fund fatigue Download PitchBook’s Report here. Last week we mentioned the overall fundraising slowdown, which was highlighted in PitchBook’s US PE Breakdown. Much of that is due to fewer mega fund closings. Many are still on the market, but firms like Blackstone, TPG and Carlyle have acknowledged their latest flagships will be smaller than anticipated….
Fundraising slowdown Download PitchBook’s Report here. Fundraising is in a slowdown, according to PitchBook’s US PE Breakdown. Through H1 2023, about $153 billion has been raised across 160 funds. Compared to last year, those paces are about 25% slower and 15% slower, respectively…. Subscribe to Read MoreAlready a member? Log in here...
Another mixed quarter Download PitchBook’s Report here. US PE activity brought in mixed results in Q2, with deal volume up slightly and value down almost 16%, according to PitchBook’s US PE Breakdown. Dealmaking has declined in four of the past six quarters, making it difficult to ascertain any trends in a recovery. That said, deal volume…
A welcome bump in exits Download PitchBook’s Report here. Exit activity rose in Q2 and stopped a four-quarter slide, according to PitchBook’s just-released US PE Breakdown. It wasn’t exactly a resurgence, but was welcome news nonetheless. Exits came to a standstill in Q1, registering just $52.3 billion in total…. Subscribe to Read MoreAlready a member? Log
PE’s impending maturity wall Download PitchBook’s Report here. Private equity’s stunted exit market is now several quarters old, and it comes on the heels of a historic run of deal activity. A new PitchBook analyst note looks ahead to an “impending maturity wall” and the ripple effects it could have on the industry…. Subscribe to Read
MM fundraising is having its moment Download PitchBook’s Report here. Middle-market fundraising is having a moment in the sun. PitchBook’s latest US PE Middle Market Report recorded $49.9 billion raised in MM strategies in Q1, up 70% from Q1 2022. A historical look at fundraising seasonality bodes well for the middle market. Over the past decade,…
A decent start in the middle market Download PitchBook’s Report here. The middle market got off to a decent start in 2023, though quarterly activity has mostly stalled since the 2021 boom. PitchBook’s just-released US PE Middle Market Report registered $107 billion in Q1 investments, continuing a smooth trend of about ~$110B per quarter since Q4…
Strong fundraising among secondaries Download PitchBook’s Report here. Secondaries fundraising is off to a strong start in 2023, according to PitchBook’s Q1 2023 Global Private Market Fundraising Report. With $30.7 billion raised through Q1, secondaries fundraising is already two-thirds as high as all of 2022, which was a strong year itself…. Subscribe to Read MoreAlready a
Slowdown hits alt managers Download PitchBook’s Report here. Deal activity out of alternative asset managers is down—now, so is deal activity for alternative asset managers, according to PitchBook’s latest analyst note, Public PE and GP Deal Roundup. GPs investing in other GPs, whether they’re GP stake sales, industry acquisitions or public listings, is subdued this year….
Seeking Fund VII or greater Download PitchBook’s Report here. Yet another piece of evidence about today’s fundraising challenges—more than half of 2023 dollars have been committed to funds VII or greater. According to PitchBook’s Global Private Markets Fundraising Report, 56% of PE fund closings this year have gone to the seventh, eighth, ninth or tenth funds…