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Q1 2013 Private Equity Fundraising

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Q1 2013 Private Equity Fundraising Q1 2013 Private Equity Fundraising April 2013 Page 1 of 2 Fig. 3: Breakdown of Funds Closed in Q1 2013 by Primary Fig. 1: 10 Largest Funds to Hold a Final Close in Q1 2013 Geographic Focus Fund Firm Type Final Size (bn) GP Location Fund Focus 70 63 Cinven V Cinven Buyout 5.0 EUR UK Europe 60 EnCap Energy Capital Fund IX EnCap Investments Natural Resources 5.0 USD US US Highbridge Mezzanine Fund II Highbridge Mezzanine 4.4 USD US US 50 No. of RRJ Capital Master Fund II RRJ Capital Buyout 3.5 USD Hong Kong Asia Funds TowerBrook Investors IV TowerBrook Capital Partners Buyout 3.5 USD UK US 40 36.4 EQT Infrastructure II EQT Funds Management Infrastructure 1.9 EUR UK Europe 30 30 28 AEA Investors Fund V AEA Investors Buyout 2.0 USD US US Aggregate 22.0 Capital Equistone European Fund IV Equistone Partners Europe Buyout 1.5 EUR UK Europe 20 Raised Crown Global Secondaries III LGT Capital Partners Secondaries 2.0 USD Switzerland Europe ($bn) EnerVest Energy Institutional Fund XIII EnerVest Natural Resources 2.0 USD US US 10 6.6 8 2.1 0 Fig. 2: Breakdown of Q1 2013 Fundraising by Type and Geography North America Europe Asia Rest of World Geographic Focus Global North America Europe Asia Rest of World Fig. 4: Average Time Taken for Funds to Achieve a Final Close by Aggregate Aggregate Aggregate Aggregate Aggregate No. Of No. of No. of No. of No. of Type of Fund Capital Raised Capital Raised Capital Raised Capital Raised Capital Raised Year of Fund Close Funds Funds Funds Funds Funds ($bn) ($bn) ($bn) ($bn) $bn Buyout 27 26.3 15 10.8 7 10.5 2 3.5 3 1.5 25 Distressed 8 1.6 1 0.8 1 0.3 6 0.5 0 - Private Equity Fund of Funds 9 1.5 5 0.4 3 1 1 0.1 0 - 20 18.2 17.7 18.2 Growth 11 1.8 1 0.2 2 0.3 6 0.9 2 0.4 16.9 16.2 Infrastructure 7 6.8 1 0.8 4 5.6 2 0.4 0 - 15 14.5 Mezzanine 4 4.7 3 4.7 0 - 0 - 1 N/A Natural 11.1 11.7 6 9.7 5 9.6 0 - 0 - 1 0.1 Resources 10 Real Estate 20 5.3 12 3.7 3 0.8 5 0.8 0 - Secondaries 1 2 0 - 1 2 0 - 0 - 5 Venture Capital 29 4.9 16 3.3 8 1.3 4 0.2 1 0.1 (All Stages) Time Spent in Market (Months) Average Other 7 2.5 4 2.1 1 0.2 2 0.2 0 - 0 Grand Total 129 67.1 63 36.4 30 22 28 6.6 8 2.1 2006 2007 2008 2009 2010 2011 2012 Q1 2013 Year of Final Close Fundraising by Type Funds in Market First-time Funds Buyout funds raised $26bn in Q1 2013, with 29% of all buyout As of April 2013, there are 1,914 funds on the road targeting an First-time funds that closed in Q1 2013 secured just $4bn in capital that was raised in the quarter secured by Cinven V, which aggregate $797bn, an increase compared to January 2012 when aggregate capital, compared to $32bn in Q2 2008. Twenty-eight was the largest fund to close in Q1 2013, raising €5bn. Distressed 1,845 funds were seeking an aggregate $758bn. fi rst-time funds reached a fi nal close in the fi rst quarter of 2013, the private equity fundraising decreased signifi cantly in Q1 2013, with lowest number in any quarter in the period 2008-2013. eight funds closed raising an aggregate $1.6bn, compared to 13 funds that raised $14.2bn in Q1 2012. Q1 2013 Private Equity Fundraising April 2013 Page 2 of 2 Fig. 5: Quarterly Global Fundraising Q1 2007 - Q1 2013 Fig. 6: Funds on the Road over Time, January 2008 - April 2013 Fig. 7: Investor Attitudes Towards Different Fund Types at Present 450 2,500 39% 423 Small to Mid-Market Buyout 51% 400 17% Areas of the 376 Venture Capital 28% Market 2,000 1,949 1,914 350 1,845 Secondaries Funds 17% Investors View 315 23% 304 No. of as Presenting 296 293 1,624 No. of 300 287 1,619 Large to Mega Buyout 19% the Best Funds 1,561 Funds on 23% 250 1,500 Opportunities 250 the Road 26% 223 226 1,304 Distressed Private Equity 23% 213 211 219 203200 203 200 184 187 187 194 Growth 14% 172 169 179 14% Aggregate 1,000 888 Aggregate 16% 150 128 129 Capital 758 797 797 Target Funds of Funds 11% Areas of the 705 699 Capital Raised 607 Market 94 94 88 94 Mezzanine 9% 100 78 84 77 79 77 86 79 81 ($bn) ($bn) 7% Investors Are 59 65 65 58 67 500 Seeking to Natural Resources 6% 50 5% Invest in Over 16% 2013 0 Other 16% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 January January January January January January April 0% 20% 40% 60% 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 2013 Proportion of Respondents Fig. 8: Investor Attitudes towards Investing in First-Time Funds over the Fig. 9: Amount of Capital Investors Plan to Commit to Private Equity Next 12 Months, 2009-2012 Funds in 2013 Compared to 2012 Preqin provides information, products and services to private equity firms, funds of funds, investors, placement agents, law firms, advisors and other professionals across the following 100% areas: Did Not Invest in 2012 90% but Investing in 2013 6% 10% • Fund Performance 8% 80% 38% 37% Significantly More 9% • Fundraising 50% Will Not Invest in First- Capital in 2013 than 55% 70% Time Funds in 2012 • Buyout Deals Slightly More Capital • Venture Capital Deals 60% Will Invest in Spin-off 15% Funds in 2013 than in 2012 • Fund Manager Profiles 19% 21% 50% 4% Same Amount of • Investor Profiles 7% Will Consider First-Time Capital in 2013 than • Fund Terms and Conditions 40% 10% Funds in 2012 12% 14% 52% • Compensation and Employment 30% Slightly Less Capital 17% Will Invest in First-Time Funds in 2013 than in 2012 20% 39% Significantly Less Available as: 31% 28% 10% 18% Capital in 2013 than • Online Database Services in 2012 • Hard Copy Publications 0% Dec-09 Dec-10 Dec-11 Dec-12 • Tailored Data Downloads For more information and to register for a demo, please visit: Looking forwards www.preqin.com/privateequity The majority of investors still remain positive towards private equity, Preqin also regularly releases free research reports and with 76% of investors planning to commit either the same amount monthly Spotlight newsletters. For further information and to of capital or more to private equity funds in 2013 than 2012, and a signup, please visit: further 10% expect to return to the asset class in 2013, having made no new commitments in 2012. www.preqin.com/research alternative assets. intelligent data..
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