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Private equity fundraising climbs 13%

6 Jan 2014

dollar3_170sqPrivate equity firms raised more funds in 2013 than they did in the previous year, according to a recent report.

Global private equity fundraising climbed 13 per cent year on year to $431bn in 2013, driven by an increase in capital raised for investment in developed economies.

Funds closed last year secured the highest amount of capital in any year since the global financial crisis, Preqin said in its latest report.

The previous high was set in 2008 when private equity firms tapped LPs for $688bn.

Funds focused on Asia and other emerging economies saw a steep decline in fundraising levels, while vehicles focused on North America and Europe managed to attract more capital from LPs.

The report showed that 59 per cent of investors said that Europe offers the best private equity investment opportunities in the current financial climate, while 54 per cent and 22 per cent had a favourable view of North America and Asia, respectively.

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