FACTBOX-Fundraising by private equity firms
LONDON, July 24 (Reuters) - Buyout firms have a record level of expiring funds this year, raising the prospect that many will have to ask investors for more time to do deals or not use the money at all.
Yet many continue to raise new funds, with the environment becoming increasingly polarised as some firms struggle to meet their targets while others have to turn away money.
Below is the current fundraising situation at some of the biggest private equity firms.
- In November last year Advent said it had raised 8.5 billion euros ($11.2 billion) for its latest fund, exceeding its 7 billion euro target.
- In June Apax said it had raised $7.5 billion for its global fund Apax VIII, two years after it approached investors with the goal of raising $11.8 billion.
- Said in November 2012 it was starting fundraising for its next buyout fund, with a target of $12 billion.
Bain Capital LLC
- In May last year sources said Bain aimed to raise $6 billion for its new global private equity fund.
- Said in February last year that it had raised 6.5 billion euros for its latest fund.
Blackstone Group LP
- Last year completed fundraising for a $16 billion private equity fund. It is the largest since the financial crisis but took four years to secure the money from investors.
- Said in February that its Carlyle Partners VI fund had reached 60 percent of its $10 billion target.
- Said in March that it had raised 5 billion euros for its Fifth European Buyout Fund, later upping this to to 5.3 billion euros.
CVC Capital Partners
- Said this month that it had raised 10.5 billion euros for its latest buyout fund. A source said it had to turn away money.
- Said in April it was still fundraising for its latest North American buyout fund and had reached $7.5 billion of its target of up to $8 billion.
- Has started fundraising for its latest fund and is seeking 3 billion euros, sources have said.
- In April said it had raised 2.2 billion euros towards its latest fund, half an already scaled back target.
- Sources said in November 2012 it was looking to raise $8-12 billion for its next global buyout fund.
- Said in May that it had secured $11.2 billion for its latest fund, falling short of a $12 billion target.
($1 = 0.7580 euros)
(Compiled by Kylie MacLellan and Tommy Wilkes; Editing by David Goodman)