TLDR:
Private market funds raised $295bn in Q1 2024, with 521 funds contributing to this total. Fundraising was similar to the previous year, but fund counts dropped significantly. Private equity funds dominated fundraising, while venture capital saw a slowdown. European capital was on the rise, while North America’s share fell.
Article Summary:
PitchBook released its Q1 2024 Global Private Markets Fundraising Report, highlighting fundraising trends across different private market strategies. Key points from the report include:
- 521 private market funds raised a total of $295.0 billion in Q1 2024.
- Private equity funds accounted for the largest share of capital raised, at 52.9%.
- Despite a challenging exit environment, PE deal activity remained strong.
- Private debt and real estate fundraising was below historical levels due to large funds closing in 2023.
- Venture capital fundraising experienced a significant slowdown, dropping 44.2% YoY.
- Europe’s share of capital raised increased to 33.6%, while North America’s share fell to 53.2%.
The report also noted that the fundraising environment in Q1 2024 represented a natural lull in the cycle, with certain strategies seeing slower growth. Overall, the private market fundraising landscape showed resilience and adaptability to changing market conditions.
