Private equity fundraising activity slowed in the second quarter as COVID-19 began to fully take hold with sheltering in place and regional shutdowns, a Preqin report said.
According to the report, private equity funds raised $116 billion raised in the second quarter, the lowest amount raised since the first quarter of 2018 (when $110 billion was raised). During the quarter ended June 30, 225 funds closed, the lowest level in the years analyzed by Preqin.
There are currently 3,754 funds targeting a combined $884 billion in the market right now.
In a separate report, Preqin reported that a total of $34 billion was raised during the second quarter from 49 private debt funds closed, compared with $22 billion in capital raised in the first quarter. There are now a record 486 private debt funds currently seeking $239 billion in aggregate capital.