David Rubenstein, The Carlyle Group. | Photo courtesy of Monika Flueckiger
The Carlyle Group’s sixth flagship fund, which closed at $13 billion on Monday, became the fifth U.S.-based buyout fund of $5 billion or greater to close in 2013 and the second-largest overall this year, according to data from the PitchBook Platform. Carlyle Partners VI continues what should be one of the strongest years for mega-fund closes in recent memory, as the period between 2010 and 2012 only saw three buyout funds of that size close.
Other mega-buyout-funds to close this year include Warburg Pincus’ $11.2 billion 11th flagship fund, Silver Lake Partners’ $10.3 billion fund IV, Riverstone Global Energy and Power Fund V ($7.7 billion) and Providence Equity Partners’ $5 billion fund VII. And this doesn’t include the possibility of an additional three large private equity funds closing before the end of the year—Apollo Investment Fund VIII, KKR North America Fund XI and Bain Capital Fund XI, Bain’s first flagship fund since the financial crisis. Even if they don’t close before the end of the year, those three open funds, which currently represent more than $25 billion in commitments, should close by early 2014 and get next year off to a big start.
For more on how the PitchBook Platform can help with private equity fundraising, clickhere. Here’s a list of 2013’s 10 largest U.S.-based buyout funds through Nov. 26: