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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE US private equity fundraising up 32 per cent on year in first quarter09/04/2008. Source: AltAssets. 
In the first quarter of 2008, US private equity firms raised $58.5bn in 81 funds, up nearly 32 per cent from the $44.3bn raised in 68 funds during the first quarter of 2007, according to Dow Jones Private Equity Analyst. However, LBO fundraising fell 22 per cent to $27.6bn raised by 33 funds in the first quarter from the $35.2bn raised by 34 funds a year ago. Those private equity strategies less dependent on the credit markets did better. Venture capital funds saw a big increase in activity in the first quarter of 2008, with 32 funds closing, ten more than in the same quarter last year. They raised 29 per cent more capital (just under $5bn) compared to the first quarter of 2007.
The largest fund raised in the quarter was Goldman Sachs Capital Partners’ $20bn GS Mezzanine Partners V. WL Ross & Co. closed the largest buy-out fund of the quarter with its $4bn WLR Recovery Fund IV.
The largest venture capital fund was raised by Essex Woodlands Health Ventures, which raised $800m for its Essex Woodlands Health Ventures VIII fund.
In Europe, private equity firms also saw an upswing in investment in the first quarter of 2008, with nearly $17.3bn invested in 38 funds, a 24 per cent increase over the nearly $14bn invested in 47 funds over the same period last year, according to the research.
Most of the increase in European buy-out fundraising came from one big fund, Bain Capital's new European fund, which closed on around $4.8bn.
Copyright © 2008 AltAssets
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