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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE European private equity funds raise €74.3bn in 2007, EVCA preliminary figures18/03/2008. Source: AltAssets. 
European private equity funds raised a total of €74.3bn in 2007, according to preliminary figures released by PEREP_Analytics, a new and independent data-gathering body endorsed by the European Private Equity and Venture Capital Association and 14 national associations in Europe. Funds raised during the first and the second halves of the year were nearly equivalent at 50.7 per cent and 49.3 per cent, respectively.
Approximately 120 independent funds reached final closing in 2007, with an average fund size of €560m. However, when the cumulative amount raised by the funds with a final closing above €1bn in 2007 is taken out, the average fund size for the year reduces by more than half to €246m. More than 50 per cent of the capital raised in 2007 was concentrated in 13 funds that closed above €1bn.
Last year saw pension funds continuing to be the largest source of funding for the industry, providing a total of 25.3 per cent of capital, slightly down from 27.1 per cent in 2006. Together, some €6.2bn in funds was raised from endowments and foundations, family offices and other asset managers.
The final figures for 2007 will be published in June.
Javier Echarri, EVCA secretary general, said, 'The establishment of PEREP as an independent body will ensure consistency and add credibility at a time when the industry is coming under increasing scrutiny from regulators and the public.'
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