Private market fundraising kept a brisk pace in 2020, with total assets raised in excess of $315 billion. Pensions & Investments tracked more than 93 institutional funds that each raised more than $1 billion during the year, down slightly from 2019 but significantly up over the past decade. Demand was high: $1 billion-plus funds raised from 2017 through 2020 collected, on average, 26.5% more than their targets and were up more than 55% from their prior funds. Although the 20 managers closing the highest volume of funds between 2010 and 2020 received 48% of the capital raised — led by Blackstone’s 9.1% — medium and small managers also received plenty of commitments.
Managers ranked by private funds closed, 2010-2021* (dollars are in millions)