European private equity funds are looking to raise a total of more than $110.7bn, and despite macroeconomic uncertainty, investors have been largely successful in reaching their targets.
PitchBook data shows that, as of the end of Q2, there are 197 open PE funds in the market—65 of which have launched since the start of 2021. Around 55% of the European funds seeking commitments are buyout funds.
The largest fund currently raising capital is KKR’s sixth European buyout fund, which held its first close in April and exceeded €6 billion, beating its initial €5.8 billion target. A final close date is yet to be announced.
KKR is not alone in its success—so far, most funds are hitting their target, PitchBook data shows. Around 89% of funds that began to deploy in 2022 and set fundraising targets have reached them, as did 70% of funds in 2021—though the former comes with the caveat that not all funds disclose their targets and more vehicles could yet be added to this year’s count.
Read more: Pitchbook
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