The first quarter of 2019 confirmed one of the most discussed trends in the private debt asset class – the concentration of fundraising power in the hands of a relatively small group of elite managers.
From 2014-17 the number of funds closed averaged comfortably more than 200 on an annual basis – before dropping significantly last year. In the first quarter of this year, only 20 funds were closed. Even though the rate of fund closes typically accelerates as the year goes on, this is still a strikingly low number.
However, those funds raised almost $33 billion between them, meaning that the fundraising total was comparable with the amount raised in previous first quarters since 2014. Moreover, the average fund size in Q1 2019 was very high – at more than $1.6 billion.
Click on the download above for a comprehensive and interactive presentation of all the key fundraising facts and figures from the opening quarter of the year. A PDF version may be downloaded HERE and the data HERE.