Based on the data collected by Pensions & Investments on private fund closings, total private investing fundraising was $293.73 billion in the first half of 2022, up 138.09% from $123.37 billion in the first half of 2018. Private investing saw fewer capital inflows in 2020 during the onset of the COVID pandemic, with aggregate assets of closed private funds dropping 12.16% to $325.82 billion from the year before. However, fundraising rebounded to $504.23 billion in 2021, a 54.76% jump from the previous year, continuing the long-term fundraising growth trend.
The number of closed funds increased by 56.1% from 2018 to 2021. The average size of closed private funds across strategies was $3.97 billion over the previous five year period. The average fund size stands at $3.93 billion in 2021, a slight increase from $3.46 billion, with the highest average fund size of $4.21 billion in 2019. The median fund size was $2.2 billion over the same period, 31.8% below 2019’s peak average of $2.9 billion. There were 42 $10 billion-plus megafunds raised from 2018 to 2022.
Pensions & Investments collects data on closed private funds with more than $1 billion in commitments.