Chart of the week: The cooling of closed-ended private equity fundraising

Global closed-ended private equity fundraising continues to cool while average fund sizes rise.

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A total of $383.4 billion was raised from the close of 622 private equity funds in 2015. Since 2013’s bumper fundraising year, aggregate capital gathered for vehicles has fallen by $48.2 billion. Despite this, the figure remains considerably higher than at the same point in 2010, suggesting that fundraising may follow a cyclical trend.

As total capital raised has fallen over the past three years, the number of vehicle closes year-on-year has also declined. However, there has been an increase in the average size of private equity vehicles globally as the number of funds has fallen to a lesser degree than aggregate capital raised. In 2015 the average size of private equity funds closed was $616.37 million, compared with $549.72 million in 2014.

Blackstone Capital Partners VII was the largest fund to close in 2015 and the second largest private equity fund to have closed since 2010. At final close in December, the buyout vehicle had gathered $18 billion.