Private equity managers worldwide raised $595 billion in 1,316 funds in 2019, down from $628 billion raised by 1,790 funds in 2018, Preqin data released Friday shows.
There are currently 3,524 private equity funds in the market attempting to raise a combined $926 billion, compared to 3,465 funds in the market with a total fundraising targets of $946 billion in December.
At the same time, buyout transactions were down, both in terms of aggregate deal value and number of deals in 2019 compared to a year earlier. Some 5,103 transactions closed with aggregate deal value of $393 billion in 2019, compared to 6,481 deals worth $493 billion in 2018.
In contrast, real estate fundraising hit a new high in 2019, amassing $151 billion in 295 funds, 39% fewer than in the prior year.
In 2018, real estate managers closed 486 funds with an aggregate value of $148 billion.
Even so, the number and aggregate value of real estate transactions in 2019 fell to 9,328 deals worth a combined $410 billion from 9,795 transactions with an aggregate value of $457 billion in 2018.