Is the fundraising boom over?
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It isn’t news that US private equity fundraising has been on a tear in recent years. The flood began in 2013, which saw $195 billion raised across 290 vehicles. At the time, both figures were head-and-shoulders above 2012 totals, but it turned out to be the start of an extended boom in PE fundraising, which topped out last year at $243 billion raised. Much of the enthusiasm for PE funds was out of necessity, as a reverse denominator effect roiled asset allocations across much of the institutional landscape.