Top Open Buyout Funds Ranked by Prior Fund Performance
January 13, 2014
2013 was the best year for private equity fundraising since the financial crisis. More than 20 U.S.-based buyout funds with over $1 billion in committed capital closed last year, and with a large number of currently open funds, 2014 is shaping up to be another banner year for fundraising. But with so many open funds, large and small, how should limited partners decide where to allocate their scarce resources?
PitchBook has compiled a list of currently open funds ranked by their predecessor’s performance. The size of these top performing predecessor funds ranges from $77 million (Cotton Creek Capital’s second fund) to $3.6 billion (NGP Natural Resources XI). The $17.5 billion Apollo Investment Fund VIII was due to be included on this list, but closed just prior to publication. Its predecessor fund, Apollo Investment Fund VII has a 24.6% IRR.