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Is the fund raising environment thawing? Funds of funds certainly appear able to get new commitments from their LPs.
According to TheDeal.com, over the past two months fund-of-funds managers have closed on roughly $5.1 billion in fresh capital to invest in private equity, venture capital and real estate vehicles.
No surprise to see that much of the money is heading towards distressed asset or special situation PE funds!
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I think a far greater worry should be the amount of money overhang in private equity. Billions of dollars were raised in 2007 and 2008 without being put to work. As an LP, I'm scared to death about what competition may do once deal activity resumes.
Posted by: Mark | June 11, 2009 at 02:51 AM