Shifts in PE fund raising

We've noted that announced and completed deal volumes have declined precipitously. It's also important to point out, though, that fund raising has not taken a hit. According to the Financial Times, Apollo is closing in on a $15 billion fund, KKR is finishing up a $9 billion effort, and the Blackstone group has plans for a $20 billion fund. The composition of investors funds may be shifting. It seems as though pension funds, with a few exceptions, are scaling back. But the rise of sovereign wealth funds has been a real godsend for the private equity industry. They represent a powerful source of liquidity, though they come with some baggage.   

For more:
- here's the Financial Times article

Read more on: KKR | Blackstone Group | Apollo Management