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Chart of the Week: Fundraising by Strategy

Opportunity outpaces all other strategies for the quarter

 COW 4-29 411x

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Data from PERE Research & Analytics reveals that, in Q1 2015, a total of $38 billion was raised from 49 funds, closing on the highest amount of capital in the first quarter of any other post-crisis year. This represents a growth of: 21 percent from Q1 2014, 85 percent from Q1 2013 and 206 percent from Q1 2012. 

Opportunistic funds led fundraising in Q1 2015, with an aggregate of $27.9 billion, or 73 percent, of capital raised. Blackstone Real Estate Partners VIII singlehandedly accounted for 52 percent of this opportunistic volume. In Q1 2015, opportunistic fund totals jumped 168 percent from a year ago and 258 percent from two years ago. In fact, opportunistic fundraising was the only strategy that saw an increase in capital in the first quarter compared to a year ago. 

Value added funds, which came in second for the quarter, saw a decrease of 16 percent from Q1 2014 when the strategy raised $4.4 billion, while debt funds saw the largest deficit between this quarter and a year ago. In Q1 2014, debt led fundraising with $10.6 billion whereas this quarter the strategy collected a total of $2.6 billion to come in third, a dip of 75 percent. The DeAWM Senior Loan Fund was the largest debt fund closing, raising €500 million. With such an uptick in opportunistic fundraising and a decrease in all other strategies, it may be indicative of a shift in investor preference for risker assets.