Europe’s share of global private capital fundraising hit an all-time high this year, with funds focused on secondaries and real assets recording some of the continent’s largest closes.
As of the end of September, European private market funds collected $310.5 billion, representing 34.2% of the total global capital raised this year, according to PitchBook’s Q3 2025 Global Private Market Fundraising Report.
Europe is the only major region to increase its share of global fundraising in 2025. North America still holds the largest share of private capital raised, although its portion fell from 61.5% in 2024 to 57.4% in 2025.
Europe’s share of fundraising has grown since 2022, but certain asset classes have outperformed others.
One area experiencing strong growth is real assets—mainly infrastructure funds—as the Russia-Ukraine war has spurred investment in assets related to energy security. EQT raised a record €21.5 billion (around $23.3 billion) for EQT Infrastructure VI in March, beating its original €20 billion target.
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The maturing secondaries market has also attracted more commitments, with four out of the 10 largest funds raised this year pursuing secondaries strategies. The largest fund close so far this year was Ardian’s ASF IX, which reached its $30 billion hard cap in January.
Despite capturing a record share, the total value raised remains below the 2021 record of $457.7 billion due to lower overall fundraising levels.
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