The world’s largest asset managers continue to attract the majority of investor dollars.
In H1 2024, over half of total capital raised across private equity funds globally came from only 12 new mega-funds, or those valued over $5 billion, acccording to PitchBook’s Q2 2024 Global Private Market Fundraising Report. The largest products to close included Vista Equity Partners’ $20-billion-plus eighth flagship fund in April, and Silver Lake‘s $20.5 billion seventh namesake vehicle in May.
A challenging fundraising environment has led to increased competition for a limited supply of investor capital. In this race, the largest players with the longest track records have come out on top: In 2023, experienced firms—those with four or more funds—attracted 86% of total PE capital raised, the largest recorded percentage.
In H1 2024, experienced firms’ share of total fundraising dollars continued to grow, and, by June, these managers had raised 88% of the total capital gathered so far this year.
Featured image of Vista Equity chairman and CEO Robert F. Smith, at left, by Riccardo Savi/Getty Images
