Big funds are more visible in 2020
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Fundraising has been more difficult in 2020, more so for smaller funds but less difficult for larger ones. The funds that have closed this year have tended to be on the larger side, according to PitchBook’s just released Private Fund Strategies Report, causing a spike in the “top-quartile” fund size. Just going by dollar amount (and disregarding performance), the top-quartile fund size for the 2020 vintage topped $1 billion for the first time against the backdrop of a falling average fund size.