Data from PERE Research & Analytics reveals that, at the end of Q1 2015, 736 funds were in market or coming to market and looking to raise an aggregate of $265.9 billion. North America focused funds continues their dominance of funds in market at 357 funds with an aggregate target of $92.7 billion, representing 48 percent and 35 percent of the market respectively. Value added funds make the bulk of funds in market for the region, accounting for 52 percent of the aggregate target size from 185 funds. However, the opportunistic Carlyle Realty Partners VII is the largest fund in market for the region at a target of $4 billion. Europe once again comes in at second for aggregate target size and number of funds in market, accounting for 33 percent and 22 percent of the market respectively while global fundraising comes in at third. These funds are targeting the most capital through the least number of funds with the typical average per global fund being $1.1 billion while North America-focused funds target on average $250 million. This discrepancy in average fund size can be attributed to global funds having the highest percentage of funds targeting at least $1 billion (32 percent). While more capital was raised consistently each year in the post crisis years, more funds are coming to market than are being closed which may indicate a congested market. This is especially true of North American fundraising where in Q1 2015, 18 funds closed while an additional 35 funds came to market.