The data from Preqin shows money raised globally by all types of private equity funds rose from the same quarter a year ago and from the depressed levels of the first quarter. However, industry consolidation continues with the number of funds holding a final close falling both from the second quarter of last year and sequentially.
According to Preqin, new funds with a final close during the second quarter raised $122 billion globally. That figure could rise 10% to 20% as additional data becomes available, Preqin said.
However, only 154 funds received commitments, the fewest in a quarter in 10 years. Another 155 funds had an interim close during the second quarter, securing an additional $24 billion.
The top 10 largest funds, including ones from Warburg Pincus and Silver Lake Capital, raised 55% of the total, again showing the concentration of capital.
Buyout funds raised $49 billion, more than double the $23 billion of the first quarter. Twenty-nine venture funds in the United States raised $6 billion, Preqin found.
According to an April report from the National Venture Capital Association and Thomson Reuters, publisher of this blog, 35 venture funds raised $4.1 billion in the first quarter. Venture firms raised $6.3 billion in the year-ago second quarter, the April survey found.
Fundraising activity across the private equity industry remains high. As many as 1,958 funds are on the road seeking $770 billion, Preqin says.
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