U.S. private equity firms’ fundraising volume rose to $US42 billion last quarter, a 147% jump from the first quarter of 2013.
The level was the highest since March 2009.
After a slow first quarter, portfolio company sales (or “exits”) doubled from Q1 to Q2, to $US42 billion as well.
Last month, a report from Preqin summed up the Q2 results:
Private equity fundraising was very strong in Q2 2013, with the highest quarterly value raised since the onset of the financial crisis in late 2008. The fact that the average size of private equity funds closed in Q2 2013 was $US800mn and experienced managers dominated the fundraising environment, shows that investors are increasingly looking to back fund managers with a demonstrable track record.