Global Private Market Fundraising Report

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Private market fundraising trends even lower in 2023 

GPs working to raise capital for new funds in the private markets say fundraising became more difficult in the latter half of 2022. The data shows they're right, and the pace of capital commitments in Q1 suggests that 2023 is already tracking well behind last year. 

Venture capital showed one of the steepest declines in the 12 months through Q1, dropping 38% year-over-year to $202 billion in commitments. Only one strategy—secondaries—managed to boost fundraising, and that's thanks to one firm's mega-fund closures in January. 

Our latest Global Private Market Fundraising Report, sponsored by RSM, tallies closed capital commitments through Q1 across seven private market strategies.  
 

• Funds over $1 billion are growing in number, but there's a chance that's a reflection of inflation. 

• Taking a global view, funds in Asia have fallen precipitously in their share of total private fundraising. 

• In almost all strategies, emerging managers account for a smaller share of private capital now than they did between 2008 and 2021.