The fundraising market for private fund managers is going to be so crowded in 2011 that the largest funds will have to scale back their ambitions, while first-time managers will need to work harder than ever to differentiate themselves.
This was the message delivered by Richard Anthony, head of the Evercore Partners Private Funds Group, the fundraising division of the New York-based investment bank, at a breakfast with reporters Wednesday morning.
Evercore: GPs face ‘severely congested’ fundraising market(2)
Richard Anthony, head of Evercore Partners Private Funds Group, said ‘there will not be enough capital to satisfy all the demand’ and as a result many big-ticket fund managers will have to slash their fundraising targets.
