Private Capital Secondaries Funds Break Records In Q3

Private Capital Secondaries Funds Break Records In Q3

Six funds raise $5bn, putting Q1-Q3 2017 ahead of previous full-year record

Six private capital secondaries funds reached a final close in Q3 2017, securing a combined $5.4bn. This is a decline in fund closures from Q2, which saw nine vehicles close, but an increase in aggregate capital from the $3.9bn raised last quarter. With robust fundraising in Q3 and record quarterly fundraising in Q1, 2017 has now seen 25 secondaries funds raise a total of $29bn. This matches the previous full-year fundraising record for secondaries funds, set in 2014, with a quarter of the year remaining. As well as seeing strong overall fundraising, the secondaries fundraising market is continuing to diversify and specialize. There are 44 funds in market at the start of Q4 seeking a total of $31bn: of these, 37 are private equity secondaries, five are real estate secondaries and two are infrastructure secondaries vehicles.

Get The Full Seth Klarman Series in PDF

Get the entire 10-part series on Seth Klarman in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.