Buyout Fundraising Update - January 2014 For more information, please contact: [email protected] Or visit our website at: www.preqin.com Fig. 1: 10 Largest Funds Closed, All-Time (As at 10 January 2014)

Fund Manager Launch Date Final Close Date Target Size (mn) Final Size (mn) Geographic Focus Blackstone Capital Partners V Blackstone Group Jan-05 Jul-06 13,500 USD 21,700 USD Global GS Capital Partners VI Goldman Sachs Merchant Banking Division - Apr-07 19,000 USD 20,300 USD Global TPG Partners VI TPG Jan-08 Sep-08 18,000 USD 18,873 USD Global Apollo Investment Fund VIII Nov-12 Dec-13 12,000 USD 18,380 USD North America, Europe Apax Europe VII Nov-06 Mar-08 8,500 EUR 11,204 EUR Europe KKR Fund 2006 - Dec-07 18,000 USD 17,642 USD Global Blackstone Capital Partners VI Blackstone Group Dec-07 Jul-10 15,000 USD 16,200 USD Global TPG Partners V TPG - Jun-06 15,000 USD 15,372 USD Global Apollo Investment Fund VII Apollo Global Management May-07 Dec-08 15,000 USD 14,676 USD North America CVC European Equity Partners V CVC Capital Partners - Jan-09 11,000 EUR 10,750 EUR Europe Source: Preqin Funds in Market

Fig. 2: Annual Private Equity Buyout Fundraising, 2008 - 2013 Fig. 3: Annual Average Final Close Size of Private Equity Buyout Fig. 4: Annual Private Equity Buyout Fundraising by Fund Size*, Funds, 2008 - 2013 2008 - 2013

250 1,400 250 232 230 1,231 1,200 200 1,092 200

169 1,000 114 898 150 145 150 132 137 127 123 800 740 85 110 677 670 100 95 100 600 47 79 77 49 30 16 7 44 400 29 18 50 50 41 27 24 Average Fund Size ($mn) Average 32 Aggregate Capital Raised ($bn) 19 22 26 22 200 28 15 17 15 15 18 0 0 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 0 No. of Funds Closed Aggregate Capital Raised ($bn) 2008 2009 2010 2011 2012 2013 Small Mid-Market Large Mega

Source: Preqin Funds in Market Source: Preqin Funds in Market Source: Preqin Funds in Market

Fig. 5: 10 Largest Private Equity Buyout Funds in Market (As at 10 January 2014)

Fund Manager Launch Date Target Size (mn) Geographic Focus TPG Partners VII TPG - 12,000 USD Global KKR North American XI Fund Kohlberg Kravis Roberts Jan-11 10,000 USD North America Fund XI Bain Capital Jul-12 6,000 USD Global V Permira Sep-11 4,000 EUR Global Clayton Dubilier & Rice IX Clayton Dubilier & Rice Mar-13 5,000 USD North America, Europe Onex Partners IV Onex Corporation - 4,500 USD North America Trident Fund VI Stone Point Capital - 4,500 USD North America, Europe Russia-China Investment Fund Russian Direct Investment Fund Jun-12 4,000 USD Europe, Asia Carlyle Europe Partners IV Carlyle Group - 3,000 EUR Europe PAI Europe VI PAI Partners Jan-13 3,000 EUR Europe Source: Preqin Funds in Market * Buyout Fund Size Ranges: Vintage 2005-2014: Small Buyout ≤ $500mn, Mid Buyout $501mn-$1,500mn, Large Buyout $1,501mn-$4.5bn, Mega Buyout > $4.5bn