Private equity fundraising in the United States continues to rise from its depressed crisis-era levels, data released by PitchBook today show, but with a surprising focus on the road less-traveled—smaller PE funds.
The third quarter saw a strong jump in the number of funds raised over the same quarter last year, with 46 PE funds closing in 3Q 2013 compared to 29 in 3Q 2012. This marked increase in the number of PE funds closed points to a continued rebound in private equity fundraising, as highlighted in PitchBook’s 2H 2013 PE Fundraising and Capital Overhang Report.
But despite the large increase in fund count, a closer look at the total capital raised indicates a potential shift in the trajectory and structure of this rebound. PE firms raised $23.5 billion in 3Q 2013, only a slight increase over the $20 billion raised in 3Q 2012.
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